Stock traders buy large volume of TC Energy put options (NYSE:TRP)

TC Energy Co. (NYSE:TRP – Get Rating) (TSE:TRP) was the target of unusually large options trades on Wednesday. Equity investors bought 16,157 put options on the company. This represents an increase of approximately 1,446% from the typical volume of 1,045 put options.

Several institutional investors have recently changed their stake in the company. Capital World Investors increased its holdings of TC Energy shares by 66.3% in the first quarter. Capital World Investors now owns 56,475,561 shares of the pipeline company valued at $3,185,453,000 after buying an additional 22,507,712 shares in the last quarter. Capital Research Global Investors increased its holdings of TC Energy shares by 3.1% in the first quarter. Capital Research Global Investors now owns 40,904,876 shares of the pipeline company valued at $2,307,088,000 after buying an additional 1,225,016 shares in the last quarter. Capital International Investors increased its holdings of TC Energy shares by 14.0% in the fourth quarter. Capital International Investors now owns 33,803,122 shares of the pipeline company valued at $1,572,565,000 after buying an additional 4,155,520 shares last quarter. Vanguard Group Inc. increased its position in TC Energy shares by 3.1% in the first quarter. Vanguard Group Inc. now owns 33,256,822 shares of the pipeline company valued at $1,876,349,000 after acquiring 993,965 additional shares in the last quarter. Finally, the Bank of Nova Scotia increased its position in TC Energy shares by 32.9% in the first quarter. The Bank of Nova Scotia now owns 22,350,592 shares of the pipeline company valued at $1,260,463,000 after acquiring an additional 5,528,468 shares in the last quarter. Institutional investors hold 70.11% of the company’s shares.

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TC Energy stock opened at $50.91 on Thursday. The company has a 50-day simple moving average of $54.57 and a 200-day simple moving average of $53.78. TC Energy has a one-year low of $44.77 and a one-year high of $59.38. The company has a market capitalization of $50.07 billion, a PE ratio of 19.36, a growth price-earnings ratio of 3.87 and a beta of 0.73. The company has a debt ratio of 1.59, a current ratio of 0.61 and a quick ratio of 0.54.

TC Energy (NYSE:TRP – Get Rating) (TSE:TRP) last reported quarterly earnings data on Friday, April 29. The pipeline company reported EPS of $0.88 for the quarter, missing analyst consensus estimates of $0.89 per ($0.01). The company posted revenue of $3.50 billion for the quarter, versus analyst estimates of $3.60 billion. TC Energy had a return on equity of 14.61% and a net margin of 24.96%. The company’s revenue for the quarter increased 3.5% on an annual basis. During the same period last year, the company earned earnings per share of $0.89. Stock analysts expect TC Energy to post earnings per share of 3.35 for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 29. Shareholders of record on Thursday, June 30 will receive a dividend of $0.72. This represents a dividend of $2.88 on an annualized basis and a dividend yield of 5.66%. This is a positive change from TC Energy’s previous quarterly dividend of $0.71. The ex-dividend date is Wednesday, June 29. TC Energy’s payout ratio is 106.46%.

Several research companies have recently commented on TRP. Morgan Stanley downgraded TC Energy from an “equal weight” rating to an “underweight” rating and set a price target of $78.00 for the stock. in a research report on Tuesday, April 26. They noted that the move was a review call. CIBC upgraded TC Energy from a “neutral” rating to an “sector outperformer” rating in a Thursday, May 12 research report. US Capital Advisors reiterated a “hold” rating on TC Energy shares in a Wednesday, June 1 report. StockNews.com launched coverage on TC Energy in a report on Thursday, March 31. They issued a “hold” rating for the company. Finally, Wolfe Research downgraded TC Energy from a “peer performing” rating to an “underperforming” rating and raised its price target for the stock from $53.00 to $57.00 in a research note from Monday, April 11. Three investment analysts gave the stock a sell rating, six gave the company a hold rating and four gave the company a buy rating. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $68.00.

TC Energy Company Profile (Get a rating)

TC Energy Corporation is an energy infrastructure company in North America. It operates through five segments: Canadian Gas Pipelines; American gas pipelines; Mexican gas pipelines; Liquid pipelines; and power and storage. The company builds and operates a 93,300 km pipeline network, which transports natural gas from supply basins to local distribution companies, power plants, industrial facilities, interconnecting pipelines, export terminals LNG and other companies.

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