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

TC Energy Co. (NYSE:TRP) (TSE:TRP) saw unusually large options trading on Wednesday. Traders bought 16,157 put options on the company. This is an increase of 1,446% compared to the average volume of 1,045 put options.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TRP shares. TD Securities started coverage on TC Energy in a report on Wednesday, January 15th. They set a “buy” rating for the company. BMO Capital Markets upped their price target on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. Finally, StockNews.com upgraded shares of TC Energy from a “hold” rating to a “buy” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, TC Energy has an average rating of “Moderate Buy” and a consensus price target of $62.00.

TC Energy Stock Down 0.8 %

NYSE:TRP opened at $45.52 on Friday. TC Energy has a fifty-two week low of $31.83 and a fifty-two week high of $50.37. The stock has a market capitalization of $47.30 billion, a P/E ratio of 14.05, a P/E/G ratio of 4.43 and a beta of 0.81. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. The company’s 50-day simple moving average is $46.51 and its 200-day simple moving average is $46.61.

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, beating analysts’ consensus estimates of $0.51 by $0.54. The business 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 11.95%. During the same period last year, the business earned $1.35 EPS. On average, equities analysts anticipate that TC Energy will post 2.62 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.85 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 dividend on an annualized basis and a yield of 7.47%. TC Energy’s dividend payout ratio (DPR) is 70.68%.

Institutional Trading of TC Energy

Institutional investors have recently bought and sold shares of the stock. Fortitude Family Office LLC acquired a new stake in TC Energy in the 3rd quarter worth approximately $28,000. Blue Trust Inc. boosted its stake in TC Energy by 72.0% in the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 267 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in TC Energy in the 4th quarter worth approximately $31,000. Versant Capital Management Inc acquired a new stake in TC Energy in the 4th quarter worth approximately $33,000. Finally, Synergy Investment Management LLC acquired a new stake in TC Energy in the 4th quarter worth approximately $36,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

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.