Stock Traders Purchase High Volume of TC Energy Put Options (NYSE:TRP)

TC Energy Corporation (NYSE:TRP) (TSE:TRP) was the target of some unusual options trading on Wednesday. Investors purchased 16,157 put options on the stock. This represents an increase of approximately 1,446% compared to the average daily volume of 1,045 put options.

TC Energy Price Performance

Shares of TRP stock opened at $54.81 on Thursday. TC Energy has a twelve month low of $43.51 and a twelve month high of $55.37. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.54. The stock has a fifty day simple moving average of $52.29 and a two-hundred day simple moving average of $50.40. The stock has a market capitalization of $57.03 billion, a price-to-earnings ratio of 18.71, a P/E/G ratio of 4.82 and a beta of 0.73.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Thursday, November 6th. The pipeline company reported $0.56 earnings per share for the quarter, meeting the consensus estimate of $0.56. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $2.63 billion. During the same period in the previous year, the company posted $1.03 earnings per share. On average, analysts predict that TC Energy will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 6.2%. The ex-dividend date of this dividend is Wednesday, December 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.61. TC Energy’s dividend payout ratio is currently 103.88%.

Hedge Funds Weigh In On TC Energy

Institutional investors have recently bought and sold shares of the business. Pacifica Partners Inc. increased its holdings in TC Energy by 14.0% during the third quarter. Pacifica Partners Inc. now owns 1,625 shares of the pipeline company’s stock valued at $87,000 after buying an additional 200 shares during the period. Mesirow Financial Investment Management Inc. boosted its position in TC Energy by 2.0% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 9,991 shares of the pipeline company’s stock valued at $544,000 after acquiring an additional 200 shares in the last quarter. Kingswood Wealth Advisors LLC increased its holdings in shares of TC Energy by 2.8% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 7,342 shares of the pipeline company’s stock valued at $399,000 after acquiring an additional 202 shares during the period. Checchi Capital Advisers LLC raised its position in shares of TC Energy by 3.4% in the 3rd quarter. Checchi Capital Advisers LLC now owns 6,171 shares of the pipeline company’s stock worth $336,000 after acquiring an additional 204 shares in the last quarter. Finally, Park Avenue Securities LLC raised its position in shares of TC Energy by 2.3% in the 2nd quarter. Park Avenue Securities LLC now owns 9,947 shares of the pipeline company’s stock worth $485,000 after acquiring an additional 225 shares in the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TRP has been the subject of a number of research analyst reports. Scotiabank reissued an “outperform” rating on shares of TC Energy in a research note on Monday, October 20th. US Capital Advisors lowered TC Energy from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 21st. Weiss Ratings downgraded TC Energy from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, November 7th. BMO Capital Markets raised shares of TC Energy from a “market perform” rating to an “outperform” rating in a research note on Friday, November 7th. Finally, Royal Bank Of Canada upped their price target on shares of TC Energy from $74.00 to $84.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, TC Energy has an average rating of “Moderate Buy” and an average price target of $77.00.

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.