TC Energy Target of Unusually Large Options Trading (NYSE:TRP)

TC Energy Corporation (NYSE:TRP - Get Free Report) TSE: TRP was the recipient of unusually large options trading activity on Wednesday. Traders purchased 16,157 put options on the company. This is an increase of 1,446% compared to the average volume of 1,045 put options.

TC Energy Stock Down 0.7%

TRP stock traded down $0.33 during trading on Friday, hitting $47.24. 1,062,272 shares of the company's stock were exchanged, compared to its average volume of 2,450,120. The business has a 50-day moving average price of $48.84 and a two-hundred day moving average price of $47.85. TC Energy has a 52-week low of $37.41 and a 52-week high of $51.99. The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of 1.61. The stock has a market capitalization of $49.13 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 4.62 and a beta of 0.76.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its earnings results on Thursday, May 1st. The pipeline company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.04). TC Energy had a return on equity of 11.41% and a net margin of 29.17%. The firm had revenue of $1.78 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same quarter last year, the business posted $1.02 EPS. As a group, equities research 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. Stockholders of record on Monday, June 30th will be paid a dividend of $0.6142 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 5.20%. TC Energy's dividend payout ratio is currently 82.51%.

Wall Street Analyst Weigh In

Several research analysts recently commented on TRP shares. Citigroup assumed coverage on shares of TC Energy in a report on Friday, April 4th. They issued a "neutral" rating for the company. CIBC raised TC Energy from a "neutral" rating to a "sector outperform" rating in a research report on Friday, May 2nd. Finally, Cibc World Mkts raised shares of TC Energy from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $62.00.

Hedge Funds Weigh In On TC Energy

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in TC Energy by 1.6% in the first quarter. Vanguard Group Inc. now owns 44,397,978 shares of the pipeline company's stock worth $2,096,739,000 after acquiring an additional 710,837 shares in the last quarter. FIL Ltd raised its stake in shares of TC Energy by 10.3% in the fourth quarter. FIL Ltd now owns 28,443,403 shares of the pipeline company's stock valued at $1,325,558,000 after purchasing an additional 2,644,627 shares in the last quarter. Canada Pension Plan Investment Board grew its position in TC Energy by 34.2% in the first quarter. Canada Pension Plan Investment Board now owns 19,808,558 shares of the pipeline company's stock valued at $935,627,000 after acquiring an additional 5,053,228 shares during the period. TD Asset Management Inc grew its holdings in shares of TC Energy by 6.2% during the first quarter. TD Asset Management Inc now owns 17,455,740 shares of the pipeline company's stock worth $824,243,000 after purchasing an additional 1,018,590 shares during the last quarter. Finally, Bank of Nova Scotia increased its position in TC Energy by 80.3% in the first quarter. Bank of Nova Scotia now owns 16,983,443 shares of the pipeline company's stock worth $802,164,000 after purchasing an additional 7,562,887 shares during the period. Institutional investors and hedge funds 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.