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

TC Energy Co. (NYSE:TRPGet Free Report) (TSE:TRP) saw unusually large options trading activity on Wednesday. Traders acquired 16,157 put options on the stock. This represents an increase of 1,446% compared to the average volume of 1,045 put options.

TC Energy Stock Performance

Shares of TRP opened at $40.07 on Thursday. The firm has a 50-day moving average of $39.32 and a 200-day moving average of $37.62. TC Energy has a one year low of $32.51 and a one year high of $42.76. The company has a market cap of $40.07 billion, a PE ratio of 19.74, a price-to-earnings-growth ratio of 3.37 and a beta of 0.75. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.96 and a quick ratio of 0.88.

TC Energy (NYSE:TRPGet Free Report) (TSE:TRP) last announced its quarterly earnings data on Friday, February 16th. The pipeline company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.20. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.93 billion. TC Energy had a net margin of 18.25% and a return on equity of 18.60%. As a group, equities analysts forecast that TC Energy will post 2.99 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a dividend of $0.714 per share. This is an increase from TC Energy’s previous quarterly dividend of $0.67. The ex-dividend date is Wednesday, March 27th. This represents a $2.86 annualized dividend and a dividend yield of 7.13%. TC Energy’s payout ratio is presently 138.42%.

Institutional Trading of TC Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. American Century Companies Inc. boosted its holdings in TC Energy by 4.4% in the 1st quarter. American Century Companies Inc. now owns 27,957 shares of the pipeline company’s stock valued at $1,577,000 after purchasing an additional 1,188 shares during the period. Cetera Advisor Networks LLC boosted its holdings in TC Energy by 6.0% in the 1st quarter. Cetera Advisor Networks LLC now owns 5,664 shares of the pipeline company’s stock valued at $320,000 after purchasing an additional 323 shares during the period. BlackRock Inc. boosted its holdings in TC Energy by 43.9% in the 1st quarter. BlackRock Inc. now owns 878,551 shares of the pipeline company’s stock valued at $49,567,000 after purchasing an additional 267,934 shares during the period. Sei Investments Co. boosted its holdings in TC Energy by 40.4% in the 1st quarter. Sei Investments Co. now owns 110,816 shares of the pipeline company’s stock valued at $6,252,000 after purchasing an additional 31,882 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in TC Energy by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 33,256,822 shares of the pipeline company’s stock valued at $1,876,349,000 after purchasing an additional 993,965 shares during the period. Institutional investors own 73.67% of the company’s stock.

Analyst Ratings Changes

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

Get Our Latest Research Report on TRP

About TC Energy

(Get Free Report)

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 93,600 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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