TC Energy Target of Unusually High Options Trading (NYSE:TRP)

TC Energy Co. (NYSE:TRP) (TSE:TRP) was the recipient of some unusual options trading on Wednesday. Stock investors purchased 16,157 put options on the company. This is an increase of 1,446% compared to the typical volume of 1,045 put options.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TRP. SBI Securities Co. Ltd. acquired a new stake in TC Energy during the 4th quarter worth about $31,000. Versant Capital Management Inc purchased a new stake in shares of TC Energy in the fourth quarter worth approximately $33,000. Synergy Investment Management LLC acquired a new stake in shares of TC Energy during the fourth quarter worth approximately $36,000. Point72 DIFC Ltd purchased a new position in TC Energy during the third quarter valued at approximately $39,000. Finally, Millstone Evans Group LLC acquired a new position in TC Energy in the 4th quarter valued at approximately $41,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Analysts Set New Price Targets

TRP has been the topic of a number of research reports. Veritas raised TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. BMO Capital Markets boosted their price target on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. TD Securities started coverage on shares of TC Energy in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Finally, Royal Bank of Canada increased their target price on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, TC Energy has an average rating of “Moderate Buy” and a consensus target price of $62.00.

TC Energy Price Performance

NYSE TRP opened at $46.37 on Thursday. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56. TC Energy has a 1 year low of $31.83 and a 1 year high of $50.37. The company has a market cap of $48.19 billion, a PE ratio of 14.31, a PEG ratio of 4.34 and a beta of 0.83. The stock’s 50-day moving average price is $46.30 and its two-hundred day moving average price is $46.72.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.54. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same quarter in the previous year, the business earned $1.35 earnings per share. On average, analysts predict that TC Energy will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.85 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.33%. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio is presently 72.53%.

About TC Energy

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,600 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.