TC Energy Sees Unusually High Options Volume (NYSE:TRP)

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

TC Energy Price Performance

Shares of NYSE:TRP opened at $46.29 on Thursday. The company has a market capitalization of $48.05 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 3.88 and a beta of 0.82. 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 stock has a fifty day moving average of $47.77 and a 200-day moving average of $44.61. TC Energy has a one year low of $31.83 and a one year high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. As a group, equities analysts anticipate that TC Energy will post 3 EPS for the current fiscal year.

TC Energy Increases Dividend

The company 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 dividend yield of 7.10%. This is a boost 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 presently 67.31%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. boosted its position in shares of TC Energy by 58.0% in the third quarter. B. Riley Wealth Advisors Inc. now owns 8,769 shares of the pipeline company’s stock worth $409,000 after buying an additional 3,218 shares during the period. Centerstone Investors LLC boosted its position in TC Energy by 3.4% during the 3rd 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 during the period. Wilmington Savings Fund Society FSB purchased a new position in TC Energy during the 3rd quarter valued at about $186,000. TD Private Client Wealth LLC increased its holdings in shares of 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 period. Finally, Geode Capital Management LLC lifted its position in shares of TC Energy by 8.3% in 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 in the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TRP has been the subject of a number of research analyst reports. UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. BMO Capital Markets upped their target price 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. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. Finally, Veritas raised TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, TC Energy has a consensus rating of “Hold” and a consensus 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.