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

TC Energy Co. (NYSE:TRP - Get Free Report) TSE: TRP saw unusually large options trading activity on Wednesday. Investors purchased 16,157 put options on the company. This represents an increase of 1,446% compared to the average volume of 1,045 put options.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TRP shares. US Capital Advisors raised TC Energy from a "hold" rating to a "moderate buy" rating in a research note on Monday, February 3rd. StockNews.com raised TC Energy from a "hold" rating to a "buy" rating in a report on Wednesday, February 19th. BMO Capital Markets raised their target price on shares of TC Energy from $66.00 to $70.00 and gave the company a "market perform" rating in a research note on Wednesday, November 20th. Royal Bank of Canada lifted their target price on shares of TC Energy from $71.00 to $74.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. Finally, TD Securities assumed coverage on TC Energy in a research note on Wednesday, January 15th. They issued a "buy" rating on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $62.00.

TC Energy Trading Down 1.7 %

Shares of TC Energy stock traded down $0.81 on Thursday, hitting $45.53. The stock had a trading volume of 3,321,199 shares, compared to its average volume of 2,192,218. The stock has a 50 day moving average of $46.30 and a 200 day moving average of $46.72. The firm has a market capitalization of $47.32 billion, a P/E ratio of 14.05, a PEG ratio of 4.34 and a beta of 0.83. TC Energy has a twelve month low of $31.83 and a twelve month high of $50.37. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.54. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same period last year, the company earned $1.35 earnings per share. Sell-side analysts expect that TC Energy will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a $0.85 dividend. This is an increase from TC Energy's previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a yield of 7.47%. The ex-dividend date of this dividend is Monday, March 31st. TC Energy's payout ratio is 72.53%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Addenda Capital Inc. boosted its position in shares of TC Energy by 4.4% during the fourth quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company's stock valued at $48,135,000 after buying an additional 43,639 shares during the last quarter. Captrust Financial Advisors grew its stake in shares of TC Energy by 1.3% in the 3rd quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company's stock worth $871,000 after acquiring an additional 242 shares in the last quarter. Ritholtz Wealth Management grew its stake in shares of TC Energy by 44.8% in the 4th quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company's stock worth $1,115,000 after acquiring an additional 7,412 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of TC Energy in the third quarter valued at about $3,771,000. Finally, Harvest Portfolios Group Inc. boosted its holdings in TC Energy by 107.7% during the third quarter. Harvest Portfolios Group Inc. now owns 226,007 shares of the pipeline company's stock worth $10,743,000 after purchasing an additional 117,176 shares during the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

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.