TC Energy Target of Unusually High Options Trading (NYSE:TRP)

TC Energy Co. (NYSE:TRP) (TSE:TRP) was the recipient of some unusual options trading on Wednesday. Traders 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.

Analyst Ratings Changes

Several research analysts recently commented on TRP shares. Royal Bank of Canada increased their price objective on TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research note on Tuesday. Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. TD Securities assumed coverage on TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. StockNews.com raised TC Energy from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, BMO Capital Markets raised their target price on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, TC Energy presently has an average rating of “Hold” and an average target price of $62.00.

Hedge Funds Weigh In On TC Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Parr Mcknight Wealth Management Group LLC purchased a new position in TC Energy during the 4th quarter valued at about $2,510,000. Public Employees Retirement System of Ohio boosted its holdings in TC Energy by 343.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 351,705 shares of the pipeline company’s stock valued at $16,375,000 after acquiring an additional 272,457 shares during the period. Vise Technologies Inc. purchased a new position in TC Energy during the 4th quarter valued at about $222,000. USS Investment Management Ltd boosted its holdings in TC Energy by 16.7% during the 4th quarter. USS Investment Management Ltd now owns 187,438 shares of the pipeline company’s stock valued at $8,716,000 after acquiring an additional 26,768 shares during the period. Finally, Vident Advisory LLC purchased a new position in TC Energy during the 4th quarter valued at about $7,362,000. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

TC Energy Stock Performance

NYSE TRP opened at $45.89 on Thursday. The stock has a market cap of $47.68 billion, a PE ratio of 14.16, a P/E/G ratio of 4.35 and a beta of 0.81. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. TC Energy has a twelve month low of $31.83 and a twelve month high of $50.37. The stock has a fifty day simple moving average of $46.53 and a 200-day simple moving average of $46.62.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.54. The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.42 billion. TC Energy had a return on equity of 11.95% and a net margin of 29.40%. During the same period in the prior year, the business posted $1.35 EPS. Equities analysts anticipate that TC Energy will post 2.64 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 7.41%. This is a boost from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 31st. TC Energy’s dividend payout ratio (DPR) is 70.68%.

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.