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

TC Energy Co. (NYSE:TRP) (TSE:TRP) was the target of some unusual options trading activity on Wednesday. Traders bought 16,157 put options on the stock. This is an increase of 1,446% compared to the average volume of 1,045 put options.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. StockNews.com assumed coverage on TC Energy in a report on Thursday. They set a “hold” rating for the company. Barclays upgraded TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, TC Energy currently has a consensus rating of “Hold” and an average price target of $43.50.

TC Energy Price Performance

TRP stock opened at $45.01 on Friday. The company has a market capitalization of $45.01 billion, a P/E ratio of 23.20, a PEG ratio of 3.81 and a beta of 0.81. TC Energy has a 52-week low of $32.51 and a 52-week high of $47.38. The company has a fifty day moving average price of $43.88 and a 200-day moving average price of $40.32. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.68 and a current ratio of 0.76.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Thursday, August 1st. The pipeline company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.29. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same period in the previous year, the company posted $0.71 EPS. As a group, equities analysts expect that TC Energy will post 3.06 EPS for the current year.

TC Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be issued a $0.702 dividend. This represents a $2.81 annualized dividend and a dividend yield of 6.24%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy’s dividend payout ratio is presently 146.39%.

Hedge Funds Weigh In On TC Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC purchased a new position in shares of TC Energy during the 2nd quarter valued at $742,000. Souders Financial Advisors raised its position in shares of TC Energy by 3.3% in the second quarter. Souders Financial Advisors now owns 85,421 shares of the pipeline company’s stock worth $3,237,000 after buying an additional 2,721 shares in the last quarter. Cetera Investment Advisers increased its position in shares of TC Energy by 5.2% in the second quarter. Cetera Investment Advisers now owns 103,894 shares of the pipeline company’s stock worth $3,938,000 after purchasing an additional 5,165 shares during the last quarter. NewEdge Advisors LLC lifted its position in TC Energy by 9.5% during the second quarter. NewEdge Advisors LLC now owns 46,687 shares of the pipeline company’s stock valued at $1,769,000 after purchasing an additional 4,068 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. raised its position in shares of TC Energy by 16.6% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,033,500 shares of the pipeline company’s stock valued at $39,170,000 after buying an additional 147,500 shares in the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

About TC Energy

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.