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

TC Energy Co. (NYSE:TRP) (TSE:TRP) was the recipient of some unusual options trading activity on Wednesday. Traders acquired 16,157 put options on the stock. This is an increase of approximately 1,446% compared to the average daily volume of 1,045 put options.

TC Energy Stock Up 0.6 %

Shares of TRP stock opened at $48.88 on Thursday. The stock’s fifty day moving average price is $46.69 and its 200 day moving average price is $46.97. 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 has a 1-year low of $34.95 and a 1-year high of $50.37. The company has a market cap of $50.80 billion, a price-to-earnings ratio of 15.09, a price-to-earnings-growth ratio of 4.34 and a beta of 0.74.

TC Energy (NYSE:TRP) (TSE:TRP) last posted 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 firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.42 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same quarter in the prior year, the company posted $1.35 earnings per share. On average, research 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 disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.85 per share. The ex-dividend date is Monday, March 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 dividend on an annualized basis and a dividend yield of 6.96%. TC Energy’s payout ratio is 72.84%.

Wall Street Analysts Forecast Growth

TRP has been the topic of several research reports. StockNews.com downgraded TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Veritas raised shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. TD Securities began coverage on shares of TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Citigroup began coverage on shares of TC Energy in a research report on Friday, April 4th. They issued a “neutral” rating for the company. 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, three have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, TC Energy has an average rating of “Moderate Buy” and a consensus price target of $62.00.

Hedge Funds Weigh In On TC Energy

Several hedge funds have recently made changes to their positions in the company. Lowe Wealth Advisors LLC acquired a new position in shares of TC Energy in the first quarter valued at about $30,000. SBI Securities Co. Ltd. purchased a new position in TC Energy during the 4th quarter worth approximately $31,000. Versant Capital Management Inc purchased a new position in TC Energy during the 4th quarter worth approximately $33,000. Synergy Investment Management LLC purchased a new stake in shares of TC Energy in the 4th quarter valued at $36,000. Finally, Millstone Evans Group LLC acquired a new stake in shares of TC Energy in the fourth quarter worth $41,000. 83.13% of the stock is owned by institutional investors and hedge funds.

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.