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

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

Analyst Upgrades and Downgrades

TRP has been the subject of several recent analyst reports. Canadian Imperial Bank of Commerce lowered TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Wells Fargo & Company reissued an “overweight” rating on shares of TC Energy in a research report on Monday, February 16th. Wall Street Zen raised TC Energy from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Weiss Ratings reissued a “buy (b-)” rating on shares of TC Energy in a research report on Monday, December 29th. Finally, National Bank Financial lowered TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Seven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, TC Energy has an average rating of “Hold” and a consensus price target of $72.50.

Institutional Investors Weigh In On TC Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of TC Energy by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 47,801,695 shares of the pipeline company’s stock valued at $2,632,200,000 after purchasing an additional 980,221 shares during the last quarter. Capital Research Global Investors increased its position in shares of TC Energy by 2.5% during the 3rd quarter. Capital Research Global Investors now owns 41,977,582 shares of the pipeline company’s stock valued at $2,282,469,000 after purchasing an additional 1,041,864 shares during the last quarter. FIL Ltd increased its position in shares of TC Energy by 3.9% during the 4th quarter. FIL Ltd now owns 28,305,789 shares of the pipeline company’s stock valued at $1,558,669,000 after purchasing an additional 1,052,166 shares during the last quarter. TD Asset Management Inc increased its position in shares of TC Energy by 6.3% during the 4th quarter. TD Asset Management Inc now owns 20,868,772 shares of the pipeline company’s stock valued at $1,150,656,000 after purchasing an additional 1,244,525 shares during the last quarter. Finally, GQG Partners LLC increased its position in shares of TC Energy by 586.5% during the 4th quarter. GQG Partners LLC now owns 16,154,469 shares of the pipeline company’s stock valued at $890,711,000 after purchasing an additional 13,801,371 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Price Performance

Shares of NYSE:TRP opened at $60.95 on Thursday. TC Energy has a fifty-two week low of $46.29 and a fifty-two week high of $65.57. The business has a 50-day simple moving average of $63.00 and a two-hundred day simple moving average of $57.18. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.56 and a current ratio of 0.63. The firm has a market cap of $63.49 billion, a price-to-earnings ratio of 26.23 and a beta of 0.69.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Friday, February 13th. The pipeline company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. TC Energy had a return on equity of 10.52% and a net margin of 23.04%.The business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the previous year, the firm earned $1.05 EPS. On average, analysts expect that TC Energy will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend is Tuesday, March 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.85. TC Energy’s payout ratio is currently 108.62%.

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.