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

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

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Scotiabank reissued an “outperform” rating on shares of TC Energy in a report on Tuesday, February 17th. Canadian Imperial Bank of Commerce downgraded shares of TC Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Raymond James Financial raised shares of TC Energy to a “hold” rating in a research report on Tuesday, February 17th. Royal Bank Of Canada lifted their target price on TC Energy from $84.00 to $92.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Finally, National Bank Financial lowered TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Seven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, TC Energy presently has a consensus rating of “Hold” and a consensus price target of $72.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of TC Energy in the 4th quarter valued at approximately $25,000. Trust Co. of Vermont bought a new position in shares of TC Energy during the 4th quarter worth approximately $28,000. McIlrath & Eck LLC bought a new position in shares of TC Energy during the 4th quarter worth approximately $32,000. Westside Investment Management Inc. boosted its stake in TC Energy by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 594 shares of the pipeline company’s stock valued at $32,000 after buying an additional 297 shares in the last quarter. Finally, SWAN Capital LLC acquired a new stake in TC Energy in the 3rd quarter valued at $40,000. Institutional investors own 83.13% of the company’s stock.

TC Energy Stock Up 1.8%

TRP opened at $63.34 on Friday. TC Energy has a fifty-two week low of $43.59 and a fifty-two week high of $65.57. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.63 and a quick ratio of 0.56. The firm’s fifty day moving average price is $62.14 and its two-hundred day moving average price is $56.52. The company has a market capitalization of $65.95 billion, a P/E ratio of 27.25 and a beta of 0.69.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. The company had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.94 billion. TC Energy had a net margin of 23.04% and a return on equity of 10.52%. During the same quarter in the prior year, the company posted $1.05 EPS. On average, analysts anticipate that TC Energy will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be given a $0.8775 dividend. This represents a $3.51 annualized dividend and a yield of 5.5%. This is a boost from TC Energy’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Tuesday, March 31st. TC Energy’s dividend payout ratio (DPR) is currently 110.78%.

About TC Energy

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.