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

TC Energy Co. (NYSE:TRP) (TSE:TRP) saw unusually large options trading activity on Wednesday. Stock investors acquired 16,157 put options on the stock. This represents an increase of approximately 1,446% compared to the typical daily volume of 1,045 put options.

TC Energy Trading Up 0.0 %

Shares of NYSE:TRP opened at $47.78 on Friday. TC Energy has a 1 year low of $31.83 and a 1 year high of $50.37. The firm has a market capitalization of $49.63 billion, a price-to-earnings ratio of 13.24, a price-to-earnings-growth ratio of 3.88 and a beta of 0.82. 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 business’s 50 day moving average price is $47.75 and its 200-day moving average price is $45.23.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $2.83 billion. On average, equities research analysts forecast that TC Energy will post 3 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm 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. This is a positive change 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 dividend yield of 6.88%. TC Energy’s dividend payout ratio (DPR) is 67.31%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Natixis Advisors LLC lifted its holdings in TC Energy by 2.3% in the 2nd quarter. Natixis Advisors LLC now owns 44,561 shares of the pipeline company’s stock valued at $1,689,000 after purchasing an additional 1,017 shares in the last quarter. Private Advisor Group LLC lifted its holdings in TC Energy by 4.7% in the 2nd quarter. Private Advisor Group LLC now owns 25,592 shares of the pipeline company’s stock valued at $970,000 after purchasing an additional 1,142 shares in the last quarter. Acadian Asset Management LLC purchased a new position in TC Energy in the 2nd quarter valued at $1,510,000. Ashton Thomas Private Wealth LLC purchased a new position in TC Energy in the 2nd quarter valued at $51,000. Finally, United Services Automobile Association lifted its holdings in TC Energy by 4.7% in the 2nd quarter. United Services Automobile Association now owns 38,050 shares of the pipeline company’s stock valued at $1,442,000 after purchasing an additional 1,711 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on TRP shares. BMO Capital Markets increased their price target on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, November 20th. UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. Finally, The Goldman Sachs Group raised their price objective on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Monday, October 21st. Two 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, the company currently has an average rating of “Hold” and an average 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.