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

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

Wall Street Analyst Weigh In

Separately, TheStreet raised TC Energy from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to data from, the company presently has a consensus rating of “Hold” and a consensus price target of $48.83.

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Hedge Funds Weigh In On TC Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. EdgeRock Capital LLC acquired a new position in TC Energy during the 4th quarter valued at about $25,000. Bruce G. Allen Investments LLC acquired a new position in shares of TC Energy during the fourth quarter valued at approximately $26,000. Creekmur Asset Management LLC bought a new stake in TC Energy during the fourth quarter worth approximately $27,000. Glassman Wealth Services lifted its position in TC Energy by 61.0% in the fourth quarter. Glassman Wealth Services now owns 726 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 275 shares during the period. Finally, OLD Point Trust & Financial Services N A bought a new position in TC Energy during the 4th quarter valued at $31,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Price Performance

Shares of NYSE TRP opened at $38.46 on Thursday. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.94 and a quick ratio of 0.85. The firm has a market capitalization of $38.46 billion, a PE ratio of 19.82, a P/E/G ratio of 3.11 and a beta of 0.79. TC Energy has a 1-year low of $32.51 and a 1-year high of $41.03. The business’s fifty day moving average price is $38.41 and its two-hundred day moving average price is $38.69.

TC Energy (NYSE:TRPGet Free Report) (TSE:TRP) last released its quarterly earnings results on Friday, May 3rd. The pipeline company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.83 by $0.09. The business had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.12 billion. TC Energy had a net margin of 17.23% and a return on equity of 17.94%. On average, research analysts expect that TC Energy will post 3.01 EPS for the current year.

TC Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid a $0.71 dividend. The ex-dividend date is Friday, June 28th. This represents a $2.84 annualized dividend and a dividend yield of 7.38%. TC Energy’s payout ratio is currently 144.85%.

TC Energy Company Profile

(Get Free Report)

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.

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