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

TC Energy Corporation (NYSE:TRP) (TSE:TRP) was the target of some unusual options trading activity on Wednesday. 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.

Analyst Ratings Changes

Several research firms have issued reports on TRP. Barclays reissued an “overweight” rating on shares of TC Energy in a research note on Tuesday, October 14th. Weiss Ratings reiterated a “buy (b-)” rating on shares of TC Energy in a report on Monday. Cibc Captl Mkts upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Citigroup reaffirmed a “neutral” rating on shares of TC Energy in a research report on Thursday, November 20th. Finally, Cibc World Mkts downgraded shares of TC Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $84.00.

Institutional Trading of TC Energy

A number of large investors have recently added to or reduced their stakes in the company. Allworth Financial LP increased its stake in shares of TC Energy by 16.4% during the 3rd quarter. Allworth Financial LP now owns 2,151 shares of the pipeline company’s stock worth $117,000 after purchasing an additional 303 shares during the last quarter. Swiss Life Asset Management Ltd grew its holdings in TC Energy by 13.7% during the third quarter. Swiss Life Asset Management Ltd now owns 71,539 shares of the pipeline company’s stock worth $3,895,000 after purchasing an additional 8,621 shares during the period. Manhattan West Asset Management LLC bought a new position in TC Energy during the third quarter worth about $201,000. CIBC Bancorp USA Inc. acquired a new position in TC Energy during the third quarter worth approximately $21,107,000. Finally, Greenline Partners LLC raised its stake in TC Energy by 3.4% in the third quarter. Greenline Partners LLC now owns 314,303 shares of the pipeline company’s stock valued at $17,101,000 after buying an additional 10,336 shares during the period. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Stock Performance

Shares of NYSE TRP opened at $55.81 on Thursday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.56 and a current ratio of 0.63. The stock has a 50 day moving average price of $53.13 and a 200 day moving average price of $51.29. The stock has a market capitalization of $58.08 billion, a PE ratio of 24.05 and a beta of 0.70. TC Energy has a 52 week low of $43.51 and a 52 week high of $56.08.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Thursday, November 6th. The pipeline company reported $0.56 earnings per share for the quarter, hitting the consensus estimate of $0.56. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $2.63 billion. TC Energy had a return on equity of 10.61% and a net margin of 23.86%.During the same quarter in the previous year, the firm earned $1.03 EPS. Analysts predict that TC Energy will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.85 per share. The ex-dividend date is Wednesday, December 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.61. This represents a $3.40 dividend on an annualized basis and a yield of 6.1%. TC Energy’s dividend payout ratio is presently 106.47%.

TC Energy Company Profile

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.