Traders Buy Large Volume of TC Energy Put Options (NYSE:TRP)

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

TC Energy Trading Up 0.0 %

Shares of NYSE:TRP opened at $47.78 on Thursday. TC Energy has a twelve month low of $31.83 and a twelve month high of $50.37. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. The firm has a market cap of $49.63 billion, a P/E ratio of 13.24, a P/E/G ratio of 3.88 and a beta of 0.82. The company has a 50 day moving average of $47.72 and a 200-day moving average of $45.21.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly 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 company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.83 billion. As a group, analysts anticipate that TC Energy will post 3 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.822 per share. This represents a $3.29 annualized dividend and a yield of 6.88%. 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 payout ratio is presently 67.31%.

Analysts Set New Price Targets

TRP has been the topic of several recent analyst reports. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. StockNews.com began coverage on shares of TC Energy in a research note on Wednesday, December 4th. They set a “hold” rating on the stock. JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. Finally, The Goldman Sachs Group lifted their target price on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, TC Energy presently has an average rating of “Hold” and a consensus target price of $55.67.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Canada Pension Plan Investment Board lifted its holdings in shares of TC Energy by 107.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock valued at $737,609,000 after buying an additional 10,065,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in TC Energy by 156.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock worth $321,778,000 after purchasing an additional 4,126,801 shares in the last quarter. Merewether Investment Management LP acquired a new position in TC Energy during the second quarter worth $112,618,000. Marshall Wace LLP raised its holdings in 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 buying an additional 1,824,008 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new stake in shares of TC Energy during the 3rd quarter worth about $73,162,000. 83.13% of the stock is owned by institutional investors and hedge funds.

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.