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

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. This represents an increase of 1,446% compared to the typical daily volume of 1,045 put options.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TRP. CIBC upgraded shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a research note on Friday, May 2nd. Cibc World Mkts raised TC Energy from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 2nd. Finally, Citigroup initiated coverage on shares of TC Energy in a research report on Friday, April 4th. They set a "neutral" rating for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, TC Energy has a consensus rating of "Moderate Buy" and a consensus target price of $62.00.

TC Energy Stock Up 1.4%

TRP traded up $0.68 during midday trading on Thursday, reaching $47.26. 3,520,803 shares of the company were exchanged, compared to its average volume of 2,463,683. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.63 and a current ratio of 0.70. The company's fifty day moving average price is $49.26 and its 200 day moving average price is $47.76. TC Energy has a one year low of $37.41 and a one year high of $51.99. The company has a market cap of $49.14 billion, a price-to-earnings ratio of 15.60, a price-to-earnings-growth ratio of 4.50 and a beta of 0.76.

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 for the quarter, missing the consensus estimate of $0.70 by ($0.04). TC Energy had a net margin of 29.17% and a return on equity of 11.41%. The company had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter last year, the business posted $1.02 earnings per share. As a group, analysts expect that TC Energy will post 2.63 EPS for the current year.

TC Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a $0.6142 dividend. This represents a $2.46 annualized dividend and a yield of 5.20%. The ex-dividend date of this dividend is Monday, June 30th. TC Energy's dividend payout ratio (DPR) is currently 82.18%.

Institutional Investors Weigh In On TC Energy

Several large investors have recently added to or reduced their stakes in the company. BROOKFIELD Corp ON boosted its stake in TC Energy by 31.6% in the 4th quarter. BROOKFIELD Corp ON now owns 1,890,168 shares of the pipeline company's stock worth $87,950,000 after purchasing an additional 454,011 shares during the period. O Shaughnessy Asset Management LLC lifted 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 worth $10,463,000 after buying an additional 16,334 shares during the last quarter. Farther Finance Advisors LLC lifted its position in TC Energy by 77.7% in the first quarter. Farther Finance Advisors LLC now owns 2,299 shares of the pipeline company's stock valued at $110,000 after purchasing an additional 1,005 shares during the last quarter. Wealthstar Advisors LLC purchased a new position in shares of TC Energy in the first quarter worth $432,000. Finally, Golden State Wealth Management LLC raised its holdings in TC Energy by 222.2% during the 1st quarter. Golden State Wealth Management LLC now owns 1,076 shares of the pipeline company's stock valued at $51,000 after buying an additional 742 shares during the last quarter. 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.