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

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

TC Energy Trading Up 1.7%

Shares of TC Energy stock opened at $64.01 on Thursday. The stock has a market cap of $66.69 billion, a P/E ratio of 27.54 and a beta of 0.69. The company has a quick ratio of 0.56, a current ratio of 0.63 and a debt-to-equity ratio of 1.66. TC Energy has a 12-month low of $46.29 and a 12-month high of $65.57. The business's 50 day moving average is $63.02 and its 200-day moving average is $57.69.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its earnings results on Friday, February 13th. The pipeline company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.05. TC Energy had a net margin of 23.04% and a return on equity of 10.52%. The business had revenue of $2.20 billion during the quarter, compared to analysts' expectations of $2.94 billion. During the same period last year, the business earned $1.05 earnings per share. Equities research analysts predict that TC Energy will post 2.78 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be given a $0.8775 dividend. This is a boost from TC Energy's previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.5%. TC Energy's payout ratio is 108.62%.

Wall Street Analyst Weigh In

TRP has been the subject of several research reports. Wall Street Zen raised shares of TC Energy from a "sell" rating to a "hold" rating in a research note on Saturday, February 14th. Wells Fargo & Company restated an "overweight" rating on shares of TC Energy in a report on Monday, February 16th. TD Securities downgraded shares of TC Energy from a "buy" rating to a "hold" rating in a research report on Tuesday, February 17th. Raymond James Financial upgraded shares of TC Energy to a "hold" rating in a research note on Tuesday, February 17th. Finally, Royal Bank Of Canada boosted their price target on shares of TC Energy from $84.00 to $92.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 17th. Eight equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $77.00.

Institutional Investors Weigh In On TC Energy

A number of institutional investors and hedge funds have recently modified their holdings of the company. Campbell & CO Investment Adviser LLC bought a new position in shares of TC Energy during the 3rd quarter worth approximately $1,391,000. Advisors Asset Management Inc. increased its holdings in shares of TC Energy by 38.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 88,140 shares of the pipeline company's stock worth $4,796,000 after acquiring an additional 24,617 shares during the last quarter. Citigroup Inc. raised its stake in TC Energy by 19.2% in the 3rd quarter. Citigroup Inc. now owns 378,086 shares of the pipeline company's stock valued at $20,562,000 after acquiring an additional 61,013 shares during the period. Vanguard Group Inc. raised its stake in TC Energy by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 46,821,474 shares of the pipeline company's stock valued at $2,545,777,000 after acquiring an additional 914,168 shares during the period. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its holdings in TC Energy by 9.2% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,365,500 shares of the pipeline company's stock valued at $74,297,000 after purchasing an additional 115,000 shares during the last quarter. 83.13% of the stock is owned by institutional investors.

About TC Energy

TC Energy NYSE: TRP is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company's principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.

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