Investors Purchase High Volume of TC Energy Put Options (NYSE:TRP)

TC Energy Co. (NYSE:TRP - Get Free Report) TSE: TRP saw unusually large options trading on Wednesday. Investors purchased 16,157 put options on the company. This represents an increase of approximately 1,446% compared to the average volume of 1,045 put options.

Analyst Ratings Changes

TRP has been the subject of several analyst reports. Citigroup initiated coverage on shares of TC Energy in a research note on Friday, April 4th. They issued a "neutral" rating for the company. Cibc World Mkts raised shares of TC Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 2nd. Veritas upgraded shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a research note on Tuesday, February 18th. TD Securities began coverage on shares of TC Energy in a research note on Wednesday, January 15th. They issued a "buy" rating for the company. Finally, StockNews.com cut TC Energy from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, TC Energy has an average rating of "Moderate Buy" and a consensus price target of $62.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC lifted its holdings in shares of TC Energy by 19.9% during the third quarter. Barclays PLC now owns 528,528 shares of the pipeline company's stock worth $25,132,000 after buying an additional 87,885 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in TC Energy by 7.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 18,264 shares of the pipeline company's stock worth $868,000 after acquiring an additional 1,231 shares during the period. Code Waechter LLC increased its position in TC Energy by 8.6% during the fourth quarter. Code Waechter LLC now owns 34,268 shares of the pipeline company's stock worth $1,594,000 after acquiring an additional 2,726 shares during the period. Assenagon Asset Management S.A. raised its stake in TC Energy by 3.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 33,445 shares of the pipeline company's stock worth $1,558,000 after purchasing an additional 1,133 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its holdings in TC Energy by 144.5% in the 4th quarter. Park Avenue Securities LLC now owns 18,275 shares of the pipeline company's stock valued at $851,000 after purchasing an additional 10,802 shares during the period. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Stock Performance

Shares of TRP stock opened at $48.90 on Thursday. TC Energy has a 52 week low of $37.07 and a 52 week high of $51.34. The company has a market capitalization of $50.84 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 4.34 and a beta of 0.78. The company has a 50-day simple moving average of $48.28 and a 200 day simple moving average of $47.42. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.04). TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The company had revenue of $1.78 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same quarter last year, the business earned $1.02 earnings per share. On average, sell-side analysts predict that TC Energy will post 2.63 earnings per share for the current year.

TC Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a $0.6142 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.46 annualized dividend and a yield of 5.02%. TC Energy's dividend payout ratio (DPR) is presently 77.89%.

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.

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