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

TC Energy Co. (NYSE:TRP) (TSE:TRP) was the target of some unusual options trading on Wednesday. Investors bought 16,157 put options on the stock. This is an increase of 1,446% compared to the typical volume of 1,045 put options.

Analysts Set New Price Targets

Several research analysts have commented on TRP shares. Barclays upgraded shares of TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th. StockNews.com began coverage on TC Energy in a research report on Friday, September 27th. They set a “hold” rating for the company. Finally, UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $43.50.

Hedge Funds Weigh In On TC Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC lifted its position in shares of TC Energy by 1.6% during the 2nd quarter. Signaturefd LLC now owns 16,373 shares of the pipeline company’s stock worth $621,000 after purchasing an additional 261 shares during the last quarter. New Hampshire Trust lifted its holdings in shares of TC Energy by 3.8% during the first quarter. New Hampshire Trust now owns 7,263 shares of the pipeline company’s stock worth $292,000 after buying an additional 269 shares during the last quarter. Windsor Advisory Group LLC lifted its holdings in shares of TC Energy by 2.5% during the first quarter. Windsor Advisory Group LLC now owns 12,831 shares of the pipeline company’s stock worth $516,000 after buying an additional 316 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of TC Energy by 2.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 15,005 shares of the pipeline company’s stock valued at $604,000 after acquiring an additional 332 shares during the period. Finally, Mount Yale Investment Advisors LLC grew its stake in shares of TC Energy by 1.9% in the first quarter. Mount Yale Investment Advisors LLC now owns 19,873 shares of the pipeline company’s stock worth $799,000 after acquiring an additional 364 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Stock Down 9.0 %

TRP stock opened at $44.04 on Thursday. The company has a current ratio of 0.76, a quick ratio of 0.68 and a debt-to-equity ratio of 1.57. The firm has a market cap of $44.04 billion, a PE ratio of 22.70, a PEG ratio of 3.80 and a beta of 0.81. TC Energy has a 1 year low of $32.51 and a 1 year high of $48.42. The company has a fifty day simple moving average of $45.05 and a 200 day simple moving average of $40.74.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.29. The company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.78 billion. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. During the same quarter in the previous year, the firm earned $0.71 earnings per share. Sell-side analysts anticipate that TC Energy will post 3.08 EPS for the current fiscal year.

TC Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be given a dividend of $0.702 per share. The ex-dividend date is Friday, September 27th. This represents a $2.81 dividend on an annualized basis and a yield of 6.38%. TC Energy’s 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.