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

TC Energy Co. (NYSE:TRP - Get Free Report) TSE: TRP was the recipient of some unusual options trading on Wednesday. Stock traders bought 16,157 put options on the company. This represents an increase of 1,446% compared to the typical daily volume of 1,045 put options.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new position in shares of TC Energy during the third quarter worth $28,000. Blue Trust Inc. boosted its position in shares of TC Energy by 72.0% during the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company's stock worth $30,000 after acquiring an additional 267 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of TC Energy in the 4th quarter valued at about $31,000. Versant Capital Management Inc acquired a new stake in shares of TC Energy during the 4th quarter worth about $33,000. Finally, Synergy Investment Management LLC acquired a new stake in shares of TC Energy during the 4th quarter worth about $36,000. Institutional investors and hedge funds own 83.13% of the company's stock.

Analysts Set New Price Targets

TRP has been the subject of several analyst reports. Royal Bank of Canada increased their price objective on TC Energy from $71.00 to $74.00 and gave the stock an "outperform" rating in a research report on Tuesday. StockNews.com raised TC Energy from a "hold" rating to a "buy" rating in a research report on Wednesday. TD Securities assumed coverage on shares of TC Energy in a report on Wednesday, January 15th. They issued a "buy" rating on the stock. Veritas raised shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a research note on Tuesday. Finally, US Capital Advisors raised shares of TC Energy from a "hold" rating to a "moderate buy" rating in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $62.00.

TC Energy Stock Down 1.3 %

Shares of NYSE TRP traded down $0.60 during midday trading on Friday, hitting $44.94. The company's stock had a trading volume of 2,068,058 shares, compared to its average volume of 1,916,168. TC Energy has a 1 year low of $31.83 and a 1 year high of $50.37. The business's fifty day simple moving average is $46.48 and its two-hundred day simple moving average is $46.63. The firm has a market capitalization of $46.70 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 4.34 and a beta of 0.81. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.54. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate 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 in the prior year, the business earned $1.35 EPS. On average, equities analysts predict that TC Energy will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.85 dividend. This is a boost from TC Energy's previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.40 annualized dividend and a yield of 7.57%. TC Energy's dividend payout ratio (DPR) is 70.68%.

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.