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

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TRP. Fractal Investments LLC lifted its holdings in shares of TC Energy by 34.4% in the second quarter. Fractal Investments LLC now owns 649,000 shares of the pipeline company’s stock worth $31,665,000 after acquiring an additional 166,000 shares during the last quarter. Miller Howard Investments Inc. NY grew its holdings in shares of TC Energy by 93.8% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 1,153,849 shares of the pipeline company’s stock valued at $56,296,000 after purchasing an additional 558,498 shares during the last quarter. Norges Bank acquired a new position in TC Energy during the 2nd quarter worth approximately $493,434,000. Dynamic Technology Lab Private Ltd bought a new position in TC Energy in the 1st quarter valued at approximately $833,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its position in TC Energy by 9.2% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,365,500 shares of the pipeline company’s stock valued at $74,297,000 after buying an additional 115,000 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TRP has been the topic of several research analyst reports. Barclays reissued an “overweight” rating on shares of TC Energy in a report on Tuesday, October 14th. Royal Bank Of Canada lifted their price target on TC Energy from $74.00 to $84.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. BMO Capital Markets upgraded TC Energy from a “market perform” rating to an “outperform” rating in a research note on Friday, November 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of TC Energy in a research report on Monday, December 29th. Finally, TD Securities reissued a “buy” rating on shares of TC Energy in a report on Friday, October 17th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, TC Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.00.

TC Energy Stock Performance

TRP opened at $53.49 on Friday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.56 and a current ratio of 0.63. TC Energy has a 52-week low of $43.51 and a 52-week high of $56.34. The firm has a market cap of $55.67 billion, a P/E ratio of 23.06 and a beta of 0.72. The business’s fifty day moving average is $54.03 and its 200-day moving average is $51.74.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Thursday, November 6th. The pipeline company reported $0.56 earnings per share for the quarter, hitting the consensus estimate of $0.56. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $2.63 billion. TC Energy had a net margin of 23.86% and a return on equity of 10.61%. During the same quarter in the prior year, the business posted $1.03 earnings per share. Sell-side analysts expect that TC Energy will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be given a dividend of $0.85 per share. The ex-dividend date is Wednesday, December 31st. This represents a $3.40 annualized dividend and a dividend yield of 6.4%. This is a positive change from TC Energy’s previous quarterly dividend of $0.61. TC Energy’s dividend payout ratio (DPR) is 106.90%.

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.