TC Energy Target of Unusually High Options Trading (NYSE:TRP)
by Jessica Moore · The Cerbat GemTC Energy Corporation (NYSE:TRP – Get Free Report) (TSE:TRP) was the recipient of unusually large options trading on Wednesday. Stock investors bought 16,157 put options on the stock. This is an increase of approximately 1,446% compared to the typical volume of 1,045 put options.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on the stock. Scotiabank reiterated an “outperform” rating on shares of TC Energy in a report on Tuesday, February 17th. Royal Bank Of Canada raised their price objective on TC Energy from $84.00 to $92.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. National Bank Financial lowered TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Canadian Imperial Bank of Commerce cut TC Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Finally, Wall Street Zen upgraded TC Energy from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Seven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, TC Energy currently has a consensus rating of “Hold” and an average price target of $72.50.
Check Out Our Latest Stock Analysis on TRP
Hedge Funds Weigh In On TC Energy
A number of hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC grew its holdings in TC Energy by 54.0% during the 1st quarter. AQR Capital Management LLC now owns 11,099 shares of the pipeline company’s stock worth $538,000 after acquiring an additional 3,892 shares during the period. Focus Partners Wealth lifted its stake in shares of TC Energy by 46.1% in the 1st quarter. Focus Partners Wealth now owns 12,446 shares of the pipeline company’s stock valued at $588,000 after purchasing an additional 3,929 shares during the period. Intech Investment Management LLC boosted its position in shares of TC Energy by 200.7% during the 1st quarter. Intech Investment Management LLC now owns 26,878 shares of the pipeline company’s stock valued at $1,269,000 after purchasing an additional 17,939 shares in the last quarter. Savant Capital LLC bought a new stake in shares of TC Energy during the 2nd quarter valued at about $271,000. Finally, Allworth Financial LP boosted its position in shares of TC Energy by 31.7% during the 2nd quarter. Allworth Financial LP now owns 1,848 shares of the pipeline company’s stock valued at $90,000 after purchasing an additional 445 shares in the last quarter. Institutional investors own 83.13% of the company’s stock.
TC Energy Price Performance
Shares of TRP opened at $64.18 on Friday. The business has a 50-day moving average of $60.34 and a 200-day moving average of $55.72. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.63 and a quick ratio of 0.56. The company has a market capitalization of $66.83 billion, a price-to-earnings ratio of 27.62 and a beta of 0.72. TC Energy has a 1 year low of $43.59 and a 1 year high of $65.57.
TC Energy (NYSE:TRP – Get Free Report) (TSE:TRP) last announced its earnings results on Friday, February 13th. The pipeline company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.65 by $0.05. TC Energy had a return on equity of 10.52% and a net margin of 23.04%.The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the prior year, the business posted $1.05 earnings per share. As a group, equities research analysts anticipate that TC Energy will post 2.63 earnings per share for the current 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 paid a $0.8775 dividend. 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%. This is an increase from TC Energy’s previous quarterly dividend of $0.85. TC Energy’s payout ratio is currently 106.90%.
TC Energy Company Profile
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.