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

Key Points

• TC Energy experienced an **unprecedented increase** in options trading, with **16,157 put options bought**, marking a **1,446% rise** from the typical volume.
• The company declared a **quarterly dividend increase** to **$0.6148**, reflecting a **4.7% dividend yield** and an **85.32% payout ratio**.
• Analysts have given TC Energy an average rating of **"Moderate Buy"** with a price target of **$62.00**, amidst a mix of **ratings** ranging from Strong Buy to Sell.

TC Energy Corporation (NYSE:TRP - Get Free Report) TSE: TRP was the target of unusually large options trading activity on Wednesday. Stock investors bought 16,157 put options on the company. Thisrepresentsanincreaseof1,446% compared to the typical daily volume of 1,045 put options.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on TRP shares. Barclays reissued an "overweight" rating on shares of TC Energy in a research report on Thursday, August 14th. US Capital Advisors lowered TC Energy from a "moderate buy" rating to a "hold" rating in a research report on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, TC Energy currently has an average rating of "Moderate Buy" and an average price target of $62.00.

TC Energy Stock Performance

NYSE TRP opened at $52.10 on Thursday. TC Energy has a fifty-two week low of $40.76 and a fifty-two week high of $52.28. The firm has a market capitalization of $54.18 billion, a P/E ratio of 17.78, a PEG ratio of 4.98 and a beta of 0.77. The stock has a 50-day simple moving average of $49.18 and a two-hundred day simple moving average of $48.53. 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 (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings data on Thursday, July 31st. The pipeline company reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.03. The business had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $2.56 billion. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. During the same quarter last year, the company earned $0.79 EPS. On average, equities analysts forecast that TC Energy will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be paid a $0.6148 dividend. The ex-dividend date is Monday, September 29th. This represents a $2.46 annualized dividend and a dividend yield of 4.7%. This is a boost from TC Energy's previous quarterly dividend of $0.61. TC Energy's dividend payout ratio (DPR) is presently 85.32%.

Hedge Funds Weigh In On TC Energy

A number of hedge funds have recently bought and sold shares of TRP. Lowe Wealth Advisors LLC purchased a new position in TC Energy during the first quarter valued at $30,000. Hilltop National Bank purchased a new position in shares of TC Energy in the second quarter valued at approximately $32,000. Harbor Asset Planning Inc. acquired a new stake in shares of TC Energy in the second quarter worth approximately $43,000. TruNorth Capital Management LLC purchased a new stake in shares of TC Energy during the first quarter worth approximately $45,000. Finally, Truvestments Capital LLC acquired a new position in TC Energy in the 1st quarter valued at $45,000. Hedge funds and other 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.

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