Investors Purchase High Volume of TC Energy Put Options (NYSE:TRP)

TC Energy Co. (NYSE:TRP - Get Free Report) TSE: TRP was the recipient of unusually large 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 Investors Weigh In On TC Energy

Institutional investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. purchased a new stake in TC Energy during the fourth quarter worth approximately $31,000. Versant Capital Management Inc acquired a new position in TC Energy during the fourth quarter worth approximately $33,000. Synergy Investment Management LLC acquired a new position in TC Energy during the fourth quarter worth approximately $36,000. Point72 DIFC Ltd acquired a new position in TC Energy during the third quarter worth approximately $39,000. Finally, Millstone Evans Group LLC acquired a new position in TC Energy during the fourth quarter worth approximately $41,000. Hedge funds and other institutional investors own 83.13% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. TD Securities initiated coverage on TC Energy in a research report on Wednesday, January 15th. They set a "buy" rating for the company. StockNews.com cut TC Energy from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Royal Bank of Canada raised their target price on TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. US Capital Advisors upgraded TC Energy from a "hold" rating to a "moderate buy" rating in a report on Monday, February 3rd. Finally, Veritas upgraded TC Energy from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $62.00.

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TC Energy Stock Down 1.5 %

Shares of TRP traded down $0.72 during midday trading on Friday, hitting $48.45. The company had a trading volume of 1,451,699 shares, compared to its average volume of 2,546,033. The company's 50-day simple moving average is $46.33 and its 200-day simple moving average is $46.87. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55. The firm has a market capitalization of $50.34 billion, a P/E ratio of 14.95, a P/E/G ratio of 4.34 and a beta of 0.83. TC Energy has a 1 year low of $34.95 and a 1 year high of $50.37.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.54. The business had revenue of $2.56 billion during the quarter, compared to analysts' expectations of $2.42 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same quarter last year, the business posted $1.35 EPS. As a group, sell-side analysts expect 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. Investors of record on Monday, March 31st will be paid a dividend of $0.85 per share. This is a boost from TC Energy's previous quarterly dividend of $0.82. The ex-dividend date is Monday, March 31st. This represents a $3.40 annualized dividend and a yield of 7.02%. TC Energy's payout ratio is presently 72.53%.

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.