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

TC Energy Co. (NYSE:TRP) (TSE:TRP) was the target of some unusual options trading activity on Wednesday. Stock traders bought 16,157 put options on the stock. This is an increase of 1,446% compared to the average volume of 1,045 put options.

TC Energy Trading Up 0.3 %

NYSE:TRP opened at $47.29 on Thursday. The company has a market cap of $49.08 billion, a P/E ratio of 13.07, a price-to-earnings-growth ratio of 4.03 and a beta of 0.82. TC Energy has a twelve month low of $31.83 and a twelve month high of $50.37. The business has a 50 day moving average price of $47.60 and a two-hundred day moving average price of $44.09. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data 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 company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. As a group, analysts expect that TC Energy will post 3 EPS for the current fiscal 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 paid a $0.822 dividend. This represents a $3.29 dividend on an annualized basis and a yield of 6.95%. This is an increase from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. TC Energy’s dividend payout ratio (DPR) is currently 67.31%.

Institutional Investors Weigh In On TC Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Centerstone Investors LLC raised its position in TC Energy by 3.4% during the third quarter. Centerstone Investors LLC now owns 328,440 shares of the pipeline company’s stock worth $14,550,000 after acquiring an additional 10,890 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of TC Energy in the 3rd quarter valued at about $186,000. TD Private Client Wealth LLC lifted its stake in TC Energy by 2.6% in the 3rd quarter. TD Private Client Wealth LLC now owns 65,595 shares of the pipeline company’s stock valued at $3,122,000 after purchasing an additional 1,676 shares during the last quarter. Geode Capital Management LLC grew its holdings in TC Energy by 8.3% during the third quarter. Geode Capital Management LLC now owns 4,712,660 shares of the pipeline company’s stock worth $225,890,000 after purchasing an additional 360,548 shares during the period. Finally, Executive Wealth Management LLC acquired a new position in TC Energy during the third quarter worth approximately $443,000. Institutional investors own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TRP shares. Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. BMO Capital Markets lifted their price objective on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. StockNews.com assumed coverage on shares of TC Energy in a research report on Wednesday, December 4th. They set a “hold” rating on the stock. Veritas upgraded shares of TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. Finally, The Goldman Sachs Group increased their price objective on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a report on Monday, October 21st. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $55.67.

About TC Energy

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.