Stock Traders Purchase High Volume of Put Options on TC Energy (NYSE:TRP)

TC Energy Co. (NYSE:TRP) (TSE:TRP) saw some unusual options trading on Wednesday. Investors 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 Up 0.7 %

TRP stock opened at $44.34 on Friday. The firm has a fifty day moving average price of $45.11 and a two-hundred day moving average price of $40.77. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.68. TC Energy has a 1-year low of $32.51 and a 1-year high of $48.42. The firm has a market cap of $44.34 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 3.80 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.29. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same quarter in the prior year, the business earned $0.71 earnings per share. Research analysts predict that TC Energy will post 3.08 EPS for the current year.

TC Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be issued a $0.702 dividend. This represents a $2.81 annualized dividend and a dividend yield of 6.33%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy’s dividend payout ratio (DPR) is 146.39%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. EdgeRock Capital LLC acquired a new position in shares of TC Energy during the second quarter valued at $25,000. Creekmur Asset Management LLC acquired a new position in TC Energy during the 4th quarter valued at about $27,000. Whittier Trust Co. of Nevada Inc. grew its position in TC Energy by 138.8% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 429 shares during the last quarter. OLD Point Trust & Financial Services N A acquired a new stake in shares of TC Energy in the fourth quarter valued at approximately $31,000. Finally, Mather Group LLC. bought a new stake in shares of TC Energy during the second quarter valued at approximately $33,000. 83.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on TRP shares. StockNews.com assumed coverage on shares of TC Energy in a research note on Friday, September 27th. They set a “hold” rating on the stock. UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday. Finally, Barclays upgraded TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $43.50.

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.