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

TC Energy Co. (NYSE:TRPGet Rating) (TSE:TRP) was the target of unusually large options trading on Wednesday. Investors acquired 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.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Retirement Planning Co of New England Inc. bought a new stake in shares of TC Energy in the 4th quarter valued at approximately $25,000. Prospera Financial Services Inc bought a new stake in TC Energy in the first quarter worth approximately $33,000. MUFG Americas Holdings Corp acquired a new position in shares of TC Energy during the 3rd quarter worth $29,000. UMB Bank N A MO bought a new stake in TC Energy in the fourth quarter worth $30,000. Finally, MV Capital Management Inc. raised its holdings in TC Energy by 38.1% during the fourth quarter. MV Capital Management Inc. now owns 725 shares of the pipeline company’s stock valued at $34,000 after buying an additional 200 shares in the last quarter. 70.11% of the stock is owned by institutional investors.

TRP has been the topic of a number of recent analyst reports. US Capital Advisors cut shares of TC Energy from an “overweight” rating to a “hold” rating in a research note on Friday, March 11th. Wolfe Research cut shares of TC Energy from a “peer perform” rating to an “underperform” rating and increased their price objective for the company from $53.00 to $57.00 in a report on Monday, April 11th. StockNews.com started coverage on TC Energy in a report on Thursday, March 31st. They set a “hold” rating on the stock. Raymond James cut TC Energy from a “strong-buy” rating to an “outperform” rating in a research report on Wednesday, February 16th. Finally, Credit Suisse Group restated a “neutral” rating on shares of TC Energy in a report on Tuesday, February 8th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, TC Energy presently has a consensus rating of “Hold” and a consensus target price of $67.17.

TRP stock opened at $56.00 on Thursday. The firm has a 50 day simple moving average of $56.07 and a 200 day simple moving average of $52.00. TC Energy has a 52 week low of $44.77 and a 52 week high of $59.06. The stock has a market cap of $54.95 billion, a P/E ratio of 21.29, a P/E/G ratio of 3.91 and a beta of 0.71. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.51 and a current ratio of 0.57.

TC Energy (NYSE:TRPGet Rating) (TSE:TRP) last issued its earnings results on Friday, April 29th. The pipeline company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.22. TC Energy had a net margin of 24.96% and a return on equity of 14.59%. The company had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.60 billion. During the same quarter last year, the business posted $0.89 EPS. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. Sell-side analysts predict that TC Energy will post 3.35 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 29th. Shareholders of record on Thursday, June 30th will be paid a $0.72 dividend. The ex-dividend date is Wednesday, June 29th. This represents a $2.88 dividend on an annualized basis and a yield of 5.14%. This is an increase from TC Energy’s previous quarterly dividend of $0.71. TC Energy’s payout ratio is 109.51%.

TC Energy Company Profile (Get Rating)

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 Storage. The company builds and operates 93,300 km network 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.

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