Investors Purchase Large Volume of TC Energy Put Options (NYSE:TRP)

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

TC Energy Trading Down 0.3 %

Shares of TRP opened at $35.73 on Thursday. The stock has a market capitalization of $35.73 billion, a P/E ratio of 17.60, a PEG ratio of 3.10 and a beta of 0.75. The company has a quick ratio of 0.88, a current ratio of 0.96 and a debt-to-equity ratio of 1.65. The firm has a fifty day simple moving average of $38.60 and a two-hundred day simple moving average of $38.09. TC Energy has a twelve month low of $32.51 and a twelve month high of $42.49.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.20. The business had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $2.93 billion. TC Energy had a net margin of 18.25% and a return on equity of 18.60%. On average, research analysts anticipate that TC Energy will post 2.9 EPS for the current year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were issued a $0.714 dividend. The ex-dividend date was Wednesday, March 27th. This is a positive change from TC Energy’s previous quarterly dividend of $0.67. This represents a $2.86 annualized dividend and a yield of 7.99%. TC Energy’s dividend payout ratio is 139.41%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Capital Research Global Investors raised its holdings in TC Energy by 23.7% in the 4th quarter. Capital Research Global Investors now owns 55,677,989 shares of the pipeline company’s stock worth $2,174,931,000 after purchasing an additional 10,654,993 shares in the last quarter. Capital International Investors raised its holdings in TC Energy by 11.8% in the 4th quarter. Capital International Investors now owns 55,161,245 shares of the pipeline company’s stock worth $2,155,419,000 after purchasing an additional 5,822,056 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of TC Energy by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 40,404,299 shares of the pipeline company’s stock worth $1,579,404,000 after acquiring an additional 778,359 shares in the last quarter. Capital World Investors increased its stake in shares of TC Energy by 0.5% in the 4th quarter. Capital World Investors now owns 37,412,046 shares of the pipeline company’s stock worth $1,461,583,000 after acquiring an additional 181,091 shares in the last quarter. Finally, Bank of Nova Scotia increased its stake in shares of TC Energy by 13.7% in the 4th quarter. Bank of Nova Scotia now owns 28,980,334 shares of the pipeline company’s stock worth $1,132,854,000 after acquiring an additional 3,497,666 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TRP has been the subject of several research analyst reports. Barclays lifted their target price on shares of TC Energy from $53.00 to $55.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. The Goldman Sachs Group lifted their target price on shares of TC Energy from $29.00 to $32.00 and gave the company a “sell” rating in a research report on Friday, January 26th. TheStreet upgraded shares of TC Energy from a “c+” rating to a “b-” rating in a report on Wednesday, March 20th. Jefferies Financial Group began coverage on shares of TC Energy in a report on Tuesday, February 27th. They issued a “hold” rating for the company. Finally, Stifel Nicolaus began coverage on shares of TC Energy in a report on Thursday, January 18th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $48.83.

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.