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

TC Energy Co. (NYSE:TRPGet Free Report) (TSE:TRP) saw some unusual options trading activity on Wednesday. Stock traders acquired 16,157 put options on the company. This represents an increase of approximately 1,446% compared to the typical daily volume of 1,045 put options.

TC Energy Trading Up 0.3 %

TRP stock opened at $40.05 on Thursday. The firm has a fifty day moving average price of $39.15 and a 200 day moving average price of $37.31. TC Energy has a fifty-two week low of $32.51 and a fifty-two week high of $42.76. The firm has a market cap of $40.05 billion, a PE ratio of 19.73, a price-to-earnings-growth ratio of 3.33 and a beta of 0.75. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.88 and a current ratio of 0.96.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be paid a $0.714 dividend. This is a boost from TC Energy’s previous quarterly dividend of $0.67. This represents a $2.86 dividend on an annualized basis and a dividend yield of 7.13%. The ex-dividend date of this dividend is Wednesday, March 27th. TC Energy’s dividend payout ratio (DPR) is presently 138.42%.

Institutional Trading of TC Energy

Large investors have recently made changes to their positions in the business. Glassman Wealth Services grew its position in TC Energy by 61.0% in the fourth quarter. Glassman Wealth Services now owns 726 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 275 shares in the last quarter. ICA Group Wealth Management LLC increased its position in shares of TC Energy by 23.8% during the 1st quarter. ICA Group Wealth Management LLC now owns 1,450 shares of the pipeline company’s stock valued at $56,000 after purchasing an additional 279 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of TC Energy by 14.2% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,315 shares of the pipeline company’s stock valued at $80,000 after purchasing an additional 288 shares during the last quarter. Sourcerock Group LLC raised its holdings in TC Energy by 1.0% during the 2nd quarter. Sourcerock Group LLC now owns 31,537 shares of the pipeline company’s stock valued at $1,274,000 after buying an additional 300 shares during the period. Finally, Wealthspire Advisors LLC lifted its position in TC Energy by 2.1% in the fourth quarter. Wealthspire Advisors LLC now owns 14,383 shares of the pipeline company’s stock worth $562,000 after buying an additional 300 shares during the last quarter. 73.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TRP has been the subject of a number of analyst reports. Stifel Nicolaus began coverage on TC Energy in a research note on Thursday, January 18th. They issued a “buy” rating for the company. Barclays lifted their target price on TC Energy from $53.00 to $55.00 and gave the company an “equal weight” rating in a research note on Monday, January 29th. Jefferies Financial Group started coverage on TC Energy in a research note on Tuesday, February 27th. They issued a “hold” rating for the company. TheStreet upgraded shares of TC Energy from a “d+” rating to a “c+” rating in a research report on Friday, February 16th. Finally, The Goldman Sachs Group upped their target price on shares of TC Energy from $29.00 to $32.00 and gave the stock a “sell” rating in a research report on Friday, January 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, TC Energy has an average rating of “Hold” and an average target price of $48.83.

Get Our Latest Report on TRP

About TC Energy

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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 93,700 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.

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