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

TC Energy Co. (NYSE:TRP) (TSE:TRP) was the recipient of unusually large options trading activity on Wednesday. Investors purchased 16,157 put options on the company. This is an increase of 1,446% compared to the typical volume of 1,045 put options.

TC Energy Trading Up 0.6 %

Shares of NYSE:TRP traded up $0.29 during trading hours on Thursday, hitting $48.73. 150,311 shares of the company’s stock traded hands, compared to its average volume of 3,080,971. The business has a fifty day moving average price of $46.78 and a 200-day moving average price of $42.59. TC Energy has a 1 year low of $31.83 and a 1 year high of $50.22. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. The firm has a market capitalization of $50.57 billion, a P/E ratio of 13.42, a price-to-earnings-growth ratio of 4.06 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.06. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.83 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. Equities analysts expect that TC Energy will post 2.98 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.822 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 dividend on an annualized basis and a dividend yield of 6.75%. TC Energy’s dividend payout ratio (DPR) is 78.95%.

Institutional Trading of TC Energy

Several institutional investors and hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in TC Energy by 4.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 315,427 shares of the pipeline company’s stock worth $15,011,000 after purchasing an additional 13,832 shares during the period. BBR Partners LLC bought a new position in shares of TC Energy during the 3rd quarter worth $476,000. Bridgewater Associates LP bought a new stake in shares of TC Energy in the third quarter valued at about $2,634,000. Partners Group Holding AG lifted its stake in TC Energy by 25.8% in the third quarter. Partners Group Holding AG now owns 845,335 shares of the pipeline company’s stock worth $40,196,000 after acquiring an additional 173,250 shares during the period. Finally, FMR LLC grew its holdings in TC Energy by 2,821.8% during the 3rd quarter. FMR LLC now owns 574,427 shares of the pipeline company’s stock worth $27,311,000 after acquiring an additional 554,767 shares in the last quarter. Institutional investors own 83.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. StockNews.com started coverage on shares of TC Energy in a report on Saturday, October 5th. They issued a “hold” rating for the company. JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. Finally, The Goldman Sachs Group boosted their target price on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $48.50.

TC Energy Company Profile

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.