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

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

Institutional Trading of TC Energy

A number of institutional investors have recently bought and sold shares of TRP. Intech Investment Management LLC lifted its position in TC Energy by 14.3% in the second quarter. Intech Investment Management LLC now owns 32,936 shares of the pipeline company’s stock worth $1,248,000 after buying an additional 4,127 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in TC Energy by 4.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 15,708 shares of the pipeline company’s stock worth $596,000 after buying an additional 703 shares during the last quarter. AE Wealth Management LLC lifted its position in TC Energy by 9.4% in the second quarter. AE Wealth Management LLC now owns 8,550 shares of the pipeline company’s stock worth $324,000 after buying an additional 738 shares during the last quarter. Ensign Peak Advisors Inc lifted its position in TC Energy by 3.4% in the second quarter. Ensign Peak Advisors Inc now owns 67,607 shares of the pipeline company’s stock worth $2,656,000 after buying an additional 2,200 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC lifted its position in TC Energy by 3.6% in the second quarter. Mount Yale Investment Advisors LLC now owns 20,595 shares of the pipeline company’s stock worth $781,000 after buying an additional 722 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TRP. Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. Veritas raised shares of TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. 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. JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. Finally, UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. Two research 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, TC Energy currently has an average rating of “Hold” and an average price target of $55.67.

TC Energy Trading Down 0.1 %

TRP stock opened at $47.13 on Friday. The firm has a fifty day moving average price of $47.50 and a 200 day moving average price of $45.81. TC Energy has a fifty-two week low of $31.83 and a fifty-two week high of $50.37. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. The firm has a market cap of $48.97 billion, a PE ratio of 13.06, a price-to-earnings-growth ratio of 4.48 and a beta of 0.82.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.83 billion. Sell-side analysts anticipate that TC Energy will post 2.95 earnings per share 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. Investors of record on Tuesday, December 31st will be given a $0.822 dividend. The ex-dividend date is Tuesday, December 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 dividend on an annualized basis and a yield of 6.98%. TC Energy’s dividend payout ratio (DPR) is currently 63.43%.

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.