TC Energy Sees Unusually High Options Volume (NYSE:TRP)

TC Energy Corporation (NYSE:TRP) (TSE:TRP) saw some unusual options trading on Wednesday. Investors bought 16,157 put options on the stock. This is an increase of approximately 1,446% compared to the typical daily volume of 1,045 put options.

Analysts Set New Price Targets

Several brokerages have commented on TRP. Wall Street Zen raised TC Energy from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Barclays reaffirmed an “overweight” rating on shares of TC Energy in a research report on Thursday, August 14th. Finally, US Capital Advisors downgraded TC Energy from a “moderate buy” rating to a “hold” rating in a research report on Thursday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $62.00.

Institutional Investors Weigh In On TC Energy

Institutional investors have recently added to or reduced their stakes in the stock. Hilltop National Bank bought a new stake in TC Energy during the second quarter valued at about $32,000. Harbor Asset Planning Inc. bought a new stake in TC Energy during the second quarter valued at about $43,000. Sagard Holdings Management Inc. bought a new stake in TC Energy during the second quarter valued at about $46,000. TruNorth Capital Management LLC bought a new stake in TC Energy during the first quarter valued at about $45,000. Finally, Truvestments Capital LLC bought a new stake in TC Energy during the first quarter valued at about $45,000. Institutional investors own 83.13% of the company’s stock.

TC Energy Price Performance

TRP opened at $54.25 on Friday. TC Energy has a 12-month low of $43.39 and a 12-month high of $54.90. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.54. The business’s fifty day simple moving average is $51.21 and its 200-day simple moving average is $49.56. The company has a market capitalization of $56.43 billion, a price-to-earnings ratio of 18.51, a PEG ratio of 5.17 and a beta of 0.75.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Thursday, July 31st. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the prior year, the company earned $0.79 EPS. On average, equities research analysts anticipate that TC Energy will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be given a dividend of $0.6148 per share. The ex-dividend date of this dividend is Monday, September 29th. This is an increase from TC Energy’s previous quarterly dividend of $0.61. This represents a $2.46 dividend on an annualized basis and a yield of 4.5%. TC Energy’s dividend payout ratio is 84.30%.

TC Energy Company Profile

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.