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

Key Points

• TC Energy saw a remarkable increase in options trading, with a surge of 1,446% in purchased put options, totaling 16,157 contracts.
• The company recently raised its quarterly dividend to $0.6148, resulting in an annual yield of 4.6%, demonstrating a commitment to returning capital to shareholders.
• Despite a net margin of 28.98%, TC Energy reported earnings of $0.59 EPS, which was above estimates but below its previous year's performance of $0.79 EPS.

TC Energy Corporation (NYSE:TRP - Get Free Report) TSE: TRP was the target of unusually large options trading on Wednesday. Stock investors purchased 16,157 put options on the stock. This is an increase of 1,446% compared to the typical daily volume of 1,045 put options.

Hedge Funds Weigh In On TC Energy

Hedge funds have recently bought and sold shares of the business. Hilltop National Bank bought a new position in TC Energy in the 2nd quarter valued at $32,000. Harbor Asset Planning Inc. bought a new position in TC Energy in the 2nd quarter valued at $43,000. TruNorth Capital Management LLC bought a new position in TC Energy in the 1st quarter valued at $45,000. Truvestments Capital LLC bought a new position in TC Energy in the 1st quarter valued at $45,000. Finally, Sagard Holdings Management Inc. bought a new position in TC Energy in the 2nd quarter valued at $46,000. Institutional investors own 83.13% of the company's stock.

TC Energy Stock Performance

NYSE:TRP opened at $53.87 on Thursday. The stock's fifty day moving average is $51.08 and its 200 day moving average is $49.51. The firm has a market capitalization of $56.04 billion, a PE ratio of 18.39, a PEG ratio of 5.22 and a beta of 0.75. 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 $43.39 and a fifty-two week high of $54.90.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings data on Thursday, July 31st. The pipeline company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.56 by $0.03. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $2.56 billion. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.During the same quarter in the prior year, the company posted $0.79 EPS. On average, sell-side analysts anticipate that TC Energy will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be given a $0.6148 dividend. 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. This represents a $2.46 annualized dividend and a yield of 4.6%. TC Energy's dividend payout ratio is currently 84.30%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Barclays reaffirmed an "overweight" rating on shares of TC Energy in a report on Thursday, August 14th. US Capital Advisors cut TC Energy from a "moderate buy" rating to a "hold" rating in a report on Thursday, August 21st. Finally, Wall Street Zen raised TC Energy from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $62.00.

About TC Energy

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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