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

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

Analyst Upgrades and Downgrades

TRP has been the subject of several research analyst reports. US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. Citigroup began coverage on TC Energy in a research note on Friday, April 4th. They issued a “neutral” rating for the company. TD Securities began coverage on shares of TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Royal Bank of Canada boosted their price objective on shares of TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Finally, Veritas raised shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $62.00.

Institutional Investors Weigh In On TC Energy

A number of large investors have recently made changes to their positions in TRP. NTV Asset Management LLC lifted its stake in TC Energy by 4.0% in the fourth quarter. NTV Asset Management LLC now owns 6,189 shares of the pipeline company’s stock worth $288,000 after acquiring an additional 239 shares during the period. Lee Financial Co raised its holdings in TC Energy by 3.1% in the 4th quarter. Lee Financial Co now owns 8,185 shares of the pipeline company’s stock worth $381,000 after purchasing an additional 246 shares in the last quarter. IFP Advisors Inc lifted its position in shares of TC Energy by 7.0% in the 4th quarter. IFP Advisors Inc now owns 3,809 shares of the pipeline company’s stock worth $177,000 after purchasing an additional 249 shares during the period. Benjamin Edwards Inc. boosted its stake in shares of TC Energy by 1.7% during the 4th quarter. Benjamin Edwards Inc. now owns 16,003 shares of the pipeline company’s stock valued at $745,000 after purchasing an additional 273 shares in the last quarter. Finally, Global Retirement Partners LLC increased its position in shares of TC Energy by 7.2% during the fourth quarter. Global Retirement Partners LLC now owns 4,099 shares of the pipeline company’s stock valued at $191,000 after buying an additional 274 shares during the period. 83.13% of the stock is currently owned by institutional investors.

TC Energy Stock Down 0.6 %

Shares of TC Energy stock opened at $50.12 on Friday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55. TC Energy has a 52-week low of $35.89 and a 52-week high of $51.25. The company’s 50 day moving average price is $47.44 and its 200-day moving average price is $47.27. The stock has a market capitalization of $52.11 billion, a price-to-earnings ratio of 15.47, a P/E/G ratio of 4.34 and a beta of 0.74.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.54. The firm had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.42 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same quarter in the previous year, the company earned $1.35 earnings per share. Equities research analysts forecast that TC Energy will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were given a dividend of $0.85 per share. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend was Monday, March 31st. This represents a $3.40 dividend on an annualized basis and a yield of 6.78%. TC Energy’s dividend payout ratio is presently 72.84%.

About TC Energy

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.