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

TC Energy Co. (NYSE:TRP) (TSE:TRP) was the recipient of unusually large options trading activity on Wednesday. Stock traders purchased 16,157 put options on the stock. This represents an increase of approximately 1,446% compared to the typical volume of 1,045 put options.

Analyst Upgrades and Downgrades

Separately, TheStreet raised shares of TC Energy from a “c+” rating to a “b-” rating in a research note on Wednesday, March 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $48.83.

TC Energy Trading Up 1.0 %

Shares of TC Energy stock opened at $38.84 on Friday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.85 and a current ratio of 0.94. TC Energy has a 52 week low of $32.51 and a 52 week high of $41.03. The stock has a 50 day moving average price of $38.46 and a two-hundred day moving average price of $38.69. The stock has a market capitalization of $38.84 billion, a PE ratio of 20.02, a price-to-earnings-growth ratio of 3.11 and a beta of 0.79.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.09. The firm had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.12 billion. TC Energy had a net margin of 17.23% and a return on equity of 17.94%. As a group, equities analysts anticipate that TC Energy will post 3.01 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.31%. TC Energy’s dividend payout ratio is presently 144.33%.

Institutional Investors Weigh In On TC Energy

Several institutional investors have recently bought and sold shares of TRP. New Hampshire Trust increased its position in shares of TC Energy by 3.8% during the first quarter. New Hampshire Trust now owns 7,263 shares of the pipeline company’s stock valued at $292,000 after acquiring an additional 269 shares during the last quarter. Glassman Wealth Services increased its position in shares of TC Energy by 61.0% during the 4th quarter. Glassman Wealth Services now owns 726 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 275 shares during the last quarter. Wealthspire Advisors LLC raised its stake in shares of TC Energy by 2.1% during the 4th quarter. Wealthspire Advisors LLC now owns 14,383 shares of the pipeline company’s stock worth $562,000 after purchasing an additional 300 shares during the period. AdvisorNet Financial Inc boosted its holdings in shares of TC Energy by 25.8% in the 4th quarter. AdvisorNet Financial Inc now owns 1,483 shares of the pipeline company’s stock worth $58,000 after buying an additional 304 shares during the last quarter. Finally, Wealth Alliance grew its position in TC Energy by 1.4% during the fourth quarter. Wealth Alliance now owns 22,531 shares of the pipeline company’s stock valued at $881,000 after buying an additional 304 shares during the period. Institutional investors own 83.13% of the company’s stock.

TC Energy Company Profile

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.