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

TC Energy Co. (NYSE:TRP) (TSE:TRP) saw unusually large options trading on Wednesday. Stock investors acquired 16,157 put options on the stock. This is an increase of 1,446% compared to the average volume of 1,045 put options.

TC Energy Price Performance

Shares of NYSE:TRP opened at $35.10 on Thursday. The business has a 50 day moving average price of $39.14 and a 200 day moving average price of $37.96. TC Energy has a twelve month low of $32.51 and a twelve month high of $42.49. The company has a market cap of $35.10 billion, a price-to-earnings ratio of 17.29, a PEG ratio of 3.01 and a beta of 0.75. The company has a quick ratio of 0.88, a current ratio of 0.96 and a debt-to-equity ratio of 1.65.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.20. TC Energy had a return on equity of 18.60% and a net margin of 18.25%. The firm had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.93 billion. Research analysts predict that TC Energy will post 2.99 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be paid a dividend of $0.714 per share. This is an increase from TC Energy’s previous quarterly dividend of $0.67. The ex-dividend date is Wednesday, March 27th. This represents a $2.86 annualized dividend and a yield of 8.14%. TC Energy’s dividend payout ratio is presently 139.41%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TRP. Stifel Nicolaus began coverage on TC Energy in a research report on Thursday, January 18th. They issued a “buy” rating on the stock. The Goldman Sachs Group upped their target price on TC Energy from $29.00 to $32.00 and gave the stock a “sell” rating in a research report on Friday, January 26th. Barclays increased their price objective on TC Energy from $53.00 to $55.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. TheStreet raised TC Energy from a “c+” rating to a “b-” rating in a report on Wednesday, March 20th. Finally, Jefferies Financial Group started coverage on TC Energy in a report on Tuesday, February 27th. They set a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, TC Energy currently has a consensus rating of “Hold” and a consensus target price of $48.83.

Institutional Trading of TC Energy

Several hedge funds have recently added to or reduced their stakes in TRP. American Century Companies Inc. boosted its stake in TC Energy by 4.4% during the 1st quarter. American Century Companies Inc. now owns 27,957 shares of the pipeline company’s stock valued at $1,577,000 after purchasing an additional 1,188 shares during the period. Cetera Advisor Networks LLC lifted its position in shares of TC Energy by 6.0% in the 1st quarter. Cetera Advisor Networks LLC now owns 5,664 shares of the pipeline company’s stock worth $320,000 after acquiring an additional 323 shares during the period. BlackRock Inc. lifted its position in shares of TC Energy by 43.9% in the 1st quarter. BlackRock Inc. now owns 878,551 shares of the pipeline company’s stock worth $49,567,000 after acquiring an additional 267,934 shares during the period. Sei Investments Co. lifted its position in shares of TC Energy by 40.4% in the 1st quarter. Sei Investments Co. now owns 110,816 shares of the pipeline company’s stock worth $6,252,000 after acquiring an additional 31,882 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of TC Energy by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 33,256,822 shares of the pipeline company’s stock worth $1,876,349,000 after acquiring an additional 993,965 shares during the period. Institutional investors own 83.13% of the company’s stock.

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.