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

TC Energy Corporation (NYSE:TRP) (TSE:TRP) was the target of some unusual options trading on Wednesday. Stock traders purchased 16,157 put options on the stock. This is an increase of approximately 1,446% compared to the typical volume of 1,045 put options.

Institutional Trading of TC Energy

Several hedge funds have recently modified their holdings of TRP. AQR Capital Management LLC raised its holdings in shares of TC Energy by 54.0% during the 1st quarter. AQR Capital Management LLC now owns 11,099 shares of the pipeline company’s stock worth $538,000 after acquiring an additional 3,892 shares in the last quarter. Focus Partners Wealth raised its holdings in shares of TC Energy by 46.1% during the 1st quarter. Focus Partners Wealth now owns 12,446 shares of the pipeline company’s stock worth $588,000 after acquiring an additional 3,929 shares in the last quarter. Intech Investment Management LLC raised its holdings in shares of TC Energy by 200.7% during the 1st quarter. Intech Investment Management LLC now owns 26,878 shares of the pipeline company’s stock worth $1,269,000 after acquiring an additional 17,939 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of TC Energy by 50.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,706 shares of the pipeline company’s stock worth $181,000 after acquiring an additional 1,243 shares in the last quarter. Finally, Guggenheim Capital LLC lifted its stake in shares of TC Energy by 9.9% in the 2nd quarter. Guggenheim Capital LLC now owns 16,758 shares of the pipeline company’s stock valued at $818,000 after purchasing an additional 1,511 shares during the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Morgan Stanley reissued an “overweight” rating on shares of TC Energy in a report on Wednesday, January 28th. Barclays reaffirmed an “overweight” rating on shares of TC Energy in a research note on Monday, May 4th. Citigroup reaffirmed a “neutral” rating on shares of TC Energy in a research note on Thursday, February 19th. TD Securities reaffirmed a “hold” rating on shares of TC Energy in a research note on Monday, May 4th. Finally, Canadian Imperial Bank of Commerce raised TC Energy from a “neutral” rating to a “sector outperform” rating in a research note on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $78.50.

TC Energy Stock Up 1.2%

Shares of TRP opened at $67.12 on Thursday. The stock has a market capitalization of $69.92 billion, a price-to-earnings ratio of 29.13 and a beta of 0.67. TC Energy has a 1 year low of $46.29 and a 1 year high of $67.32. The business’s 50 day simple moving average is $63.43 and its 200-day simple moving average is $58.54. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.65 and a quick ratio of 0.57.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Friday, May 1st. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.02. The business had revenue of $2.04 billion for 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 period in the prior year, the firm earned $0.95 EPS. As a group, equities analysts expect that TC Energy will post 2.75 earnings per share for the current fiscal year.

TC Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders 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 dividend yield of 5.2%. The ex-dividend date of this dividend is Tuesday, June 30th. TC Energy’s dividend payout ratio is 109.57%.

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.