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

by · The Markets Daily

TC Energy Co. (NYSE:TRP – Get Free Report) (TSE:TRP) was the recipient of unusually large 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.

Hedge Funds Weigh In On TC Energy

Hedge funds have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC purchased a new position in TC Energy in the 2nd quarter worth about $742,000. Souders Financial Advisors grew its stake in shares of TC Energy by 3.3% in the second quarter. Souders Financial Advisors now owns 85,421 shares of the pipeline company’s stock worth $3,237,000 after acquiring an additional 2,721 shares during the period. Cetera Investment Advisers boosted its holdings in TC Energy by 5.2% in the second quarter. Cetera Investment Advisers now owns 103,894 shares of the pipeline company’s stock worth $3,938,000 after purchasing an additional 5,165 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of TC Energy by 9.5% during the 2nd quarter. NewEdge Advisors LLC now owns 46,687 shares of the pipeline company’s stock valued at $1,769,000 after buying an additional 4,068 shares during the period. Finally, Duff & Phelps Investment Management Co. boosted its stake in shares of TC Energy by 16.6% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,033,500 shares of the pipeline company’s stock worth $39,170,000 after buying an additional 147,500 shares during the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

TC Energy Trading Down 2.2 %

Shares of NYSE TRP opened at $45.01 on Friday. TC Energy has a 1 year low of $32.51 and a 1 year high of $47.38. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.68. The firm has a 50-day moving average of $43.88 and a 200 day moving average of $40.32. The stock has a market cap of $45.01 billion, a P/E ratio of 23.20, a price-to-earnings-growth ratio of 3.81 and a beta of 0.81.

TC Energy (NYSE:TRP – Get Free Report) (TSE:TRP) last posted its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.29. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same quarter last year, the company earned $0.71 EPS. As a group, sell-side analysts expect that TC Energy will post 3.06 EPS for the current fiscal year.

TC Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be issued a dividend of $0.702 per share. This represents a $2.81 dividend on an annualized basis and a dividend yield of 6.24%. The ex-dividend date is Friday, September 27th. TC Energy’s payout ratio is 146.39%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TRP. StockNews.com initiated coverage on TC Energy in a report on Thursday. They set a “hold” rating on the stock. Barclays upgraded shares of TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, TC Energy presently has an average rating of “Hold” and a consensus price target of $43.50.

Get Our Latest Analysis on TC Energy

TC Energy Company Profile

(Get Free Report)

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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