TC Energy Sees Unusually Large Options Volume (NYSE:TRP)

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

TC Energy Stock Performance

TRP opened at $46.09 on Friday. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. The business’s 50 day moving average is $47.72 and its 200-day moving average is $44.63. The stock has a market cap of $47.84 billion, a PE ratio of 12.77, a price-to-earnings-growth ratio of 3.88 and a beta of 0.82. TC Energy has a twelve month low of $31.83 and a twelve month high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.83 billion. On average, analysts predict that TC Energy will post 3 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.822 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $3.29 annualized dividend and a yield of 7.13%. This is an increase from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s dividend payout ratio is presently 67.31%.

Hedge Funds Weigh In On TC Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of 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 acquiring an additional 429 shares during the period. Fortitude Family Office LLC acquired a new stake in TC Energy in the third quarter worth approximately $28,000. Blue Trust Inc. boosted its stake in TC Energy by 72.0% during the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 267 shares in the last quarter. Point72 DIFC Ltd acquired a new position in shares of TC Energy during the 3rd quarter valued at $39,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of TC Energy in the 2nd quarter worth $51,000. Institutional investors own 83.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. BMO Capital Markets boosted their target price on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. The Goldman Sachs Group boosted their price objective on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Monday, October 21st. Veritas raised shares of TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. Finally, UBS Group upgraded TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $55.67.

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.