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

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

Analyst Ratings Changes

TRP has been the topic of a number of research reports. Veritas raised TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. BMO Capital Markets raised their price objective on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, November 20th. TD Securities initiated coverage on TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. Finally, 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 report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, TC Energy currently has a consensus rating of “Hold” and a consensus price target of $55.67.

Get Our Latest Research Report on TRP

Hedge Funds Weigh In On TC Energy

Institutional investors have recently modified their holdings of the company. Foundations Investment Advisors LLC boosted its stake in TC Energy by 11.6% in the fourth quarter. Foundations Investment Advisors LLC now owns 8,844 shares of the pipeline company’s stock worth $411,000 after buying an additional 916 shares in the last quarter. Parsons Capital Management Inc. RI purchased a new stake in shares of TC Energy in the 4th quarter valued at $236,000. Mount Yale Investment Advisors LLC grew its holdings in shares of TC Energy by 3.7% during the 4th quarter. Mount Yale Investment Advisors LLC now owns 20,657 shares of the pipeline company’s stock valued at $961,000 after purchasing an additional 739 shares during the last quarter. Blue Trust Inc. raised its position in TC Energy by 111.1% in the 4th quarter. Blue Trust Inc. now owns 1,347 shares of the pipeline company’s stock worth $64,000 after purchasing an additional 709 shares during the period. Finally, Kingswood Wealth Advisors LLC purchased a new stake in TC Energy during the fourth quarter valued at about $389,000. 83.13% of the stock is currently owned by institutional investors.

TC Energy Stock Down 0.5 %

Shares of NYSE TRP opened at $47.19 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 business has a 50-day moving average of $47.52 and a 200-day moving average of $45.80. The firm has a market capitalization of $49.04 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 4.47 and a beta of 0.82. TC Energy has a 12 month low of $31.83 and a 12 month high of $50.37.

TC Energy (NYSE:TRPGet Free Report) (TSE:TRP) last released its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. Sell-side analysts expect that TC Energy will post 2.95 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.822 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.29 annualized dividend and a yield of 6.97%. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s payout ratio is 63.16%.

About TC Energy

(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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