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

TC Energy Co. (NYSE:TRP) (TSE:TRP) was the recipient of 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 typical daily volume of 1,045 put options.

Institutional Trading of TC Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Centerstone Investors LLC increased its position in TC Energy by 3.4% in the third quarter. Centerstone Investors LLC now owns 328,440 shares of the pipeline company’s stock worth $14,550,000 after buying an additional 10,890 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of TC Energy in the third quarter worth about $186,000. TD Private Client Wealth LLC boosted its stake in shares of TC Energy by 2.6% in the third quarter. TD Private Client Wealth LLC now owns 65,595 shares of the pipeline company’s stock worth $3,122,000 after acquiring an additional 1,676 shares during the period. Geode Capital Management LLC boosted its stake in shares of TC Energy by 8.3% in the third quarter. Geode Capital Management LLC now owns 4,712,660 shares of the pipeline company’s stock worth $225,890,000 after acquiring an additional 360,548 shares during the period. Finally, Executive Wealth Management LLC bought a new position in shares of TC Energy in the third quarter worth about $443,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Stock Performance

Shares of TRP opened at $48.41 on Thursday. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. The business has a 50-day simple moving average of $47.36 and a two-hundred day simple moving average of $43.45. The stock has a market cap of $50.25 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 4.12 and a beta of 0.81. TC Energy has a 52 week low of $31.83 and a 52 week high of $50.37.

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

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.822 dividend. This is a boost from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a yield of 6.79%. TC Energy’s dividend payout ratio is presently 67.31%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TRP. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. The Goldman Sachs Group upped their price objective on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Monday, October 21st. StockNews.com began coverage on TC Energy in a research report on Tuesday. They set a “hold” rating for the company. Finally, BMO Capital Markets upped their price objective on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, TC Energy currently has an average rating of “Hold” and a consensus price target 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.