TC Energy Target of Unusually High Options Trading (NYSE:TRP)

TC Energy Corporation (NYSE:TRP) (TSE:TRP) was the recipient of unusually large options trading on Wednesday. Traders acquired 16,157 put options on the stock. This represents an increase of approximately 1,446% compared to the typical volume of 1,045 put options.

Wall Street Analyst Weigh In

TRP has been the subject of several recent analyst reports. Wells Fargo & Company restated an “overweight” rating on shares of TC Energy in a research note on Monday, February 16th. BMO Capital Markets restated an “outperform” rating on shares of TC Energy in a research note on Monday, May 4th. Wall Street Zen upgraded TC Energy from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Royal Bank Of Canada upped their price objective on TC Energy from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Finally, TD Securities reiterated a “hold” rating on shares of TC Energy in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $78.50.

TC Energy Stock Up 1.2%

TC Energy stock opened at $67.12 on Thursday. The stock has a market cap of $69.92 billion, a PE ratio of 29.13 and a beta of 0.67. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.57 and a current ratio of 0.65. TC Energy has a one year low of $46.29 and a one year high of $67.32. The stock has a fifty day moving average of $63.43 and a 200 day moving average of $58.54.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Friday, May 1st. The pipeline company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. The company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.20 billion. TC Energy had a return on equity of 10.74% and a net margin of 22.22%.During the same quarter in the prior year, the business earned $0.95 earnings per share. As a group, sell-side analysts predict that TC Energy will post 2.75 EPS for the current year.

TC Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend is Tuesday, June 30th. TC Energy’s payout ratio is currently 109.57%.

Institutional Trading of TC Energy

Several hedge funds have recently bought and sold shares of the stock. Wealthstar Advisors LLC grew its holdings in TC Energy by 1.5% during the first quarter. Wealthstar Advisors LLC now owns 11,465 shares of the pipeline company’s stock valued at $718,000 after purchasing an additional 165 shares during the period. Mesirow Financial Investment Management Inc. grew its holdings in TC Energy by 2.0% during the third quarter. Mesirow Financial Investment Management Inc. now owns 9,991 shares of the pipeline company’s stock valued at $544,000 after purchasing an additional 200 shares during the period. Gold Investment Management Ltd. grew its holdings in TC Energy by 2.0% during the fourth quarter. Gold Investment Management Ltd. now owns 9,964 shares of the pipeline company’s stock valued at $549,000 after purchasing an additional 200 shares during the period. Kennebec Savings Bank grew its holdings in TC Energy by 2.1% during the fourth quarter. Kennebec Savings Bank now owns 9,854 shares of the pipeline company’s stock valued at $542,000 after purchasing an additional 203 shares during the period. Finally, Checchi Capital Advisers LLC grew its holdings in TC Energy by 3.4% during the third quarter. Checchi Capital Advisers LLC now owns 6,171 shares of the pipeline company’s stock valued at $336,000 after purchasing an additional 204 shares during the period. Institutional investors own 83.13% of the company’s stock.

TC Energy Company Profile

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long?distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.