Stock Traders Purchase High Volume of TC Energy Put Options (NYSE:TRP)

TC Energy Co. (NYSE:TRP) (TSE:TRP) was the recipient of some unusual options trading on Wednesday. Stock traders bought 16,157 put options on the company. This represents an increase of 1,446% compared to the typical daily volume of 1,045 put options.

Wall Street Analyst Weigh In

TRP has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. StockNews.com started coverage on shares of TC Energy in a research report on Wednesday, December 4th. They set a “hold” rating for the company. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. The Goldman Sachs Group lifted their target price on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Monday, October 21st. Finally, BMO Capital Markets increased their price target on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $55.67.

Hedge Funds Weigh In On TC Energy

Large investors have recently bought and sold shares of the company. Versant Capital Management Inc acquired a new stake in shares of TC Energy in the fourth quarter valued at about $33,000. B. Riley Wealth Advisors Inc. grew its holdings in shares of TC Energy by 58.0% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 8,769 shares of the pipeline company’s stock worth $409,000 after acquiring an additional 3,218 shares during the period. Centerstone Investors LLC increased its stake in TC Energy by 3.4% in the 3rd quarter. Centerstone Investors LLC now owns 328,440 shares of the pipeline company’s stock valued at $14,550,000 after purchasing an additional 10,890 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in TC Energy during the third quarter worth $186,000. Finally, TD Private Client Wealth LLC boosted its position in TC Energy by 2.6% during the third quarter. TD Private Client Wealth LLC now owns 65,595 shares of the pipeline company’s stock worth $3,122,000 after purchasing an additional 1,676 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Price Performance

TRP stock opened at $47.78 on Thursday. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. The company has a market capitalization of $49.63 billion, a P/E ratio of 13.24, a PEG ratio of 3.88 and a beta of 0.82. The business has a 50 day simple moving average of $47.72 and a 200-day simple moving average of $45.21. TC Energy has a twelve month low of $31.83 and a twelve month high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. As a group, equities analysts anticipate that TC Energy will post 3 EPS for the current year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a $0.822 dividend. This represents a $3.29 dividend on an annualized basis and a yield of 6.88%. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. TC Energy’s dividend payout ratio (DPR) is 67.31%.

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.