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. Traders purchased 16,157 put options on the stock. This is an increase of 1,446% compared to the typical daily volume of 1,045 put options.

Institutional Investors Weigh In On TC Energy

Several hedge funds have recently added to or reduced their stakes in TRP. Canada Pension Plan Investment Board boosted its holdings in TC Energy by 107.1% in the second quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock worth $737,609,000 after acquiring an additional 10,065,000 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of TC Energy by 156.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock valued at $321,778,000 after purchasing an additional 4,126,801 shares in the last quarter. Merewether Investment Management LP bought a new position in shares of TC Energy during the second quarter valued at $112,618,000. Cardinal Capital Management Inc. lifted its holdings in shares of TC Energy by 101.4% during the second quarter. Cardinal Capital Management Inc. now owns 5,068,758 shares of the pipeline company’s stock valued at $192,024,000 after purchasing an additional 2,551,926 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of TC Energy by 841.1% during the second quarter. Marshall Wace LLP now owns 2,040,863 shares of the pipeline company’s stock valued at $77,349,000 after purchasing an additional 1,824,008 shares in the last quarter. 83.13% of the stock is owned by institutional investors.

TC Energy Trading Down 0.7 %

NYSE 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 stock’s 50 day moving average is $47.36 and its 200 day moving average is $43.45. TC Energy has a twelve month low of $31.83 and a twelve month high of $50.37. The firm has a market capitalization of $50.25 billion, a PE ratio of 13.41, a P/E/G ratio of 4.12 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, topping 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 business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.83 billion. Research analysts forecast that TC Energy will post 2.98 earnings per share for the current fiscal year.

TC Energy Increases Dividend

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

Analyst Ratings Changes

TRP has been the topic of several research analyst reports. StockNews.com initiated coverage on TC Energy in a research note on Tuesday. They set a “hold” rating on the stock. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. Veritas raised TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. BMO Capital Markets lifted their price target 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. Finally, Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, TC Energy currently has a consensus 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.