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

TC Energy Co. (NYSE:TRP) (TSE:TRP) was the recipient of some unusual 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 average volume of 1,045 put options.

Institutional Investors Weigh In On TC Energy

A number of large investors have recently made changes to their positions in TRP. Private Advisor Group LLC bought a new stake in shares of TC Energy during the fourth quarter valued at approximately $208,000. Dimensional Fund Advisors LP boosted its position in shares of TC Energy by 16.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,864,214 shares of the pipeline company’s stock valued at $111,964,000 after purchasing an additional 411,133 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in shares of TC Energy by 13.7% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 11,035 shares of the pipeline company’s stock valued at $431,000 after purchasing an additional 1,331 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of TC Energy by 6.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 73,182 shares of the pipeline company’s stock valued at $2,861,000 after purchasing an additional 4,222 shares in the last quarter. Finally, Beacon Pointe Advisors LLC boosted its position in shares of TC Energy by 30.9% during the fourth quarter. Beacon Pointe Advisors LLC now owns 24,288 shares of the pipeline company’s stock valued at $949,000 after purchasing an additional 5,733 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Barclays upgraded TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, TC Energy currently has a consensus rating of “Hold” and an average target price of $43.50.

TC Energy Stock Performance

NYSE:TRP opened at $46.02 on Thursday. The business’s 50-day moving average price is $43.75 and its two-hundred day moving average price is $40.29. TC Energy has a twelve month low of $32.51 and a twelve month high of $47.38. The stock has a market cap of $46.02 billion, a P/E ratio of 23.72, a PEG ratio of 3.81 and a beta of 0.81. The company has a quick ratio of 0.68, a current ratio of 0.76 and a debt-to-equity ratio of 1.57.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.29. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.78 billion. During the same period last year, the firm posted $0.71 EPS. As a group, equities analysts predict that TC Energy will post 3.06 EPS for the current fiscal year.

TC Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be given a $0.702 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.81 dividend on an annualized basis and a dividend yield of 6.10%. TC Energy’s dividend payout ratio is currently 146.39%.

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.