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

TC Energy Co. (NYSE:TRP) (TSE:TRP) saw 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 typical volume of 1,045 put options.

TC Energy Price Performance

Shares of NYSE:TRP opened at $47.34 on Thursday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.68 and a current ratio of 0.76. The business’s fifty day moving average price is $45.69 and its two-hundred day moving average price is $41.12. The stock has a market cap of $49.13 billion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 3.84 and a beta of 0.81. TC Energy has a one year low of $30.48 and a one year high of $47.69.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.29. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same quarter last year, the company earned $0.71 earnings per share. On average, analysts forecast that TC Energy will post 3.05 EPS for the current fiscal year.

TC Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be issued a dividend of $0.702 per share. The ex-dividend date is Friday, September 27th. This represents a $2.81 dividend on an annualized basis and a dividend yield of 5.93%. TC Energy’s dividend payout ratio (DPR) is presently 116.80%.

Analyst Ratings Changes

TRP has been the topic of a number of recent analyst reports. Veritas raised shares of TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday. Barclays upgraded TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th. Finally, StockNews.com started coverage on TC Energy in a report on Saturday, October 5th. They set a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, TC Energy has a consensus rating of “Hold” and an average price target of $43.50.

Hedge Funds Weigh In On TC Energy

Institutional investors and hedge funds have recently modified their holdings of the company. Signaturefd LLC grew its stake in TC Energy by 1.6% in the 2nd quarter. Signaturefd LLC now owns 16,373 shares of the pipeline company’s stock worth $621,000 after acquiring an additional 261 shares during the period. New Hampshire Trust grew its position in shares of TC Energy by 3.8% in the first quarter. New Hampshire Trust now owns 7,263 shares of the pipeline company’s stock valued at $292,000 after purchasing an additional 269 shares during the period. Windsor Advisory Group LLC increased its stake in TC Energy by 2.5% in the first quarter. Windsor Advisory Group LLC now owns 12,831 shares of the pipeline company’s stock valued at $516,000 after purchasing an additional 316 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in TC Energy by 2.3% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 15,005 shares of the pipeline company’s stock worth $604,000 after buying an additional 332 shares during the period. Finally, Mount Yale Investment Advisors LLC boosted its stake in TC Energy by 1.9% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 19,873 shares of the pipeline company’s stock worth $799,000 after buying an additional 364 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Company Profile

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.