TC Energy Corporation (NYSE:TRP - Get Free Report) TSE: TRP was the recipient of unusually large options trading activity on Wednesday. Investors purchased 16,157 put options on the company. Thisisanincreaseof1,446% compared to the average volume of 1,045 put options.
Hedge Funds Weigh In On TC Energy
Several hedge funds have recently made changes to their positions in TRP. Orion Portfolio Solutions LLC increased its stake in shares of TC Energy by 6.9% during the fourth quarter. Orion Portfolio Solutions LLC now owns 7,764 shares of the pipeline company's stock valued at $361,000 after buying an additional 502 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in TC Energy in the fourth quarter worth $4,841,000. World Investment Advisors purchased a new stake in TC Energy in the fourth quarter worth $247,000. Prudential PLC purchased a new stake in TC Energy in the fourth quarter worth $289,000. Finally, FIL Ltd grew its stake in TC Energy by 10.3% in the fourth quarter. FIL Ltd now owns 28,443,403 shares of the pipeline company's stock worth $1,325,558,000 after purchasing an additional 2,644,627 shares during the period. 83.13% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the stock. CIBC raised shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a report on Friday, May 2nd. Cibc World Mkts upgraded TC Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $62.00.
Read Our Latest Research Report on TC Energy
TC Energy Stock Performance
Shares of TRP stock opened at $49.79 on Thursday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.54 and a current ratio of 0.61. TC Energy has a fifty-two week low of $39.12 and a fifty-two week high of $51.99. The company has a market capitalization of $51.78 billion, a P/E ratio of 16.99, a PEG ratio of 4.71 and a beta of 0.75. The stock has a 50 day moving average price of $48.48 and a two-hundred day moving average price of $47.91.
TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its earnings results on Thursday, July 31st. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.03. TC Energy had a return on equity of 11.22% and a net margin of 28.98%. The firm had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $2.56 billion. During the same period in the previous year, the firm earned $0.79 earnings per share. Analysts expect that TC Energy will post 2.63 earnings per share for the current year.
TC Energy Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be paid a dividend of $0.6148 per share. This represents a $2.46 annualized dividend and a dividend yield of 4.9%. This is a boost from TC Energy's previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Monday, September 29th. TC Energy's payout ratio is presently 85.32%.
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.
Further Reading
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