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

TC Energy Corporation (NYSE:TRP) (TSE:TRP) was the recipient of unusually large options trading on Wednesday. Stock traders purchased 16,157 put options on the company. This represents an increase of approximately 1,446% compared to the typical volume of 1,045 put options.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TRP. The Goldman Sachs Group boosted their price target on TC Energy from $48.00 to $53.00 and gave the company a “sell” rating in a report on Wednesday, February 18th. Royal Bank Of Canada lifted their target price on TC Energy from $84.00 to $92.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. Scotiabank restated an “outperform” rating on shares of TC Energy in a research note on Tuesday, February 17th. BMO Capital Markets reaffirmed an “outperform” rating on shares of TC Energy in a research report on Tuesday, February 17th. Finally, Raymond James Financial raised shares of TC Energy to a “hold” rating in a research note on Tuesday, February 17th. Seven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $72.50.

Institutional Trading of TC Energy

Several institutional investors and hedge funds have recently bought and sold shares of the business. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of TC Energy during the 4th quarter worth approximately $25,000. Trust Co. of Vermont bought a new stake in TC Energy in the 4th quarter valued at $28,000. Westside Investment Management Inc. lifted its holdings in TC Energy by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 594 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 297 shares during the last quarter. McIlrath & Eck LLC bought a new position in TC Energy during the fourth quarter worth $32,000. Finally, SWAN Capital LLC bought a new position in TC Energy during the third quarter worth $40,000. Institutional investors own 83.13% of the company’s stock.

TC Energy Stock Performance

NYSE TRP opened at $63.84 on Thursday. The firm has a market capitalization of $66.47 billion, a P/E ratio of 27.47 and a beta of 0.72. The company has a current ratio of 0.63, a quick ratio of 0.56 and a debt-to-equity ratio of 1.66. The firm’s fifty day moving average price is $60.13 and its two-hundred day moving average price is $55.66. TC Energy has a 1 year low of $43.59 and a 1 year high of $65.57.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.94 billion. TC Energy had a net margin of 23.04% and a return on equity of 10.52%. During the same quarter last year, the firm posted $1.05 EPS. As a group, research analysts anticipate that TC Energy will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.8775 per share. The ex-dividend date is Tuesday, March 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.85. This represents a $3.51 dividend on an annualized basis and a yield of 5.5%. TC Energy’s dividend payout ratio is 106.90%.

TC Energy Company Profile

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.