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

TC Energy Co. (NYSE:TRP - Get Free Report) TSE: TRP was the recipient of some unusual options trading activity on Wednesday. Stock traders bought 16,157 put options on the stock. This is an increase of approximately 1,446% compared to the average daily volume of 1,045 put options.

TC Energy Price Performance

Shares of TC Energy stock traded up $0.75 on Friday, hitting $50.60. 3,120,790 shares of the company traded hands, compared to its average volume of 2,485,249. TC Energy has a 52 week low of $37.07 and a 52 week high of $51.34. The business has a 50-day simple moving average of $48.80 and a 200 day simple moving average of $47.61. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55. The stock has a market capitalization of $52.61 billion, a P/E ratio of 15.62, a price-to-earnings-growth ratio of 4.34 and a beta of 0.78.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings results on Thursday, May 1st. The pipeline company reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.70 by ($0.04). The firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $2.57 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same period in the previous year, the company posted $1.02 earnings per share. Research analysts expect that TC Energy will post 2.63 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a dividend of $0.6142 per share. The ex-dividend date is Monday, June 30th. This represents a $2.46 annualized dividend and a yield of 4.86%. TC Energy's payout ratio is presently 77.89%.

Institutional Investors Weigh In On TC Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BROOKFIELD Corp ON raised its holdings in shares of TC Energy by 31.6% in the fourth quarter. BROOKFIELD Corp ON now owns 1,890,168 shares of the pipeline company's stock worth $87,950,000 after buying an additional 454,011 shares during the period. O Shaughnessy Asset Management LLC grew its position in TC Energy by 7.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 224,829 shares of the pipeline company's stock valued at $10,463,000 after acquiring an additional 16,334 shares during the last quarter. AXA S.A. increased its stake in TC Energy by 28.4% in the fourth quarter. AXA S.A. now owns 142,095 shares of the pipeline company's stock worth $6,612,000 after purchasing an additional 31,441 shares during the period. Cinctive Capital Management LP lifted its position in shares of TC Energy by 12.3% during the fourth quarter. Cinctive Capital Management LP now owns 194,133 shares of the pipeline company's stock worth $9,042,000 after purchasing an additional 21,243 shares during the last quarter. Finally, Guardian Partners Inc. purchased a new stake in shares of TC Energy during the fourth quarter valued at $8,614,000. Hedge funds and other institutional investors own 83.13% of the company's stock.

Wall Street Analysts Forecast Growth

TRP has been the topic of a number of research reports. Cibc World Mkts raised shares of TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. CIBC upgraded shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a research report on Friday, May 2nd. Citigroup assumed coverage on shares of TC Energy in a research report on Friday, April 4th. They set a "neutral" rating for the company. Wall Street Zen lowered TC Energy from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Finally, US Capital Advisors upgraded TC Energy from a "hold" rating to a "moderate buy" rating in a research report on Monday, February 3rd. One research 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. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $62.00.

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.