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 Trading of TC Energy

Several large investors have recently made changes to their positions in the company. Allworth Financial LP raised its position in TC Energy by 16.4% during the third quarter. Allworth Financial LP now owns 2,151 shares of the pipeline company’s stock valued at $117,000 after purchasing an additional 303 shares in the last quarter. Swiss Life Asset Management Ltd increased its stake in shares of TC Energy by 13.7% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 71,539 shares of the pipeline company’s stock valued at $3,895,000 after purchasing an additional 8,621 shares during the last quarter. Manhattan West Asset Management LLC acquired a new position in shares of TC Energy during the 3rd quarter worth $201,000. CIBC Bancorp USA Inc. bought a new stake in shares of TC Energy during the 3rd quarter worth $21,107,000. Finally, Greenline Partners LLC boosted its stake in TC Energy by 3.4% in the third quarter. Greenline Partners LLC now owns 314,303 shares of the pipeline company’s stock valued at $17,101,000 after buying an additional 10,336 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Price Performance

TC Energy stock opened at $55.81 on Friday. The firm has a market cap of $58.08 billion, a PE ratio of 24.05 and a beta of 0.70. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.63 and a quick ratio of 0.56. The stock’s fifty day moving average price is $53.22 and its two-hundred day moving average price is $51.32. TC Energy has a one year low of $43.51 and a one year high of $56.08.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, November 6th. The pipeline company reported $0.56 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.56. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $2.63 billion. TC Energy had a return on equity of 10.61% and a net margin of 23.86%.During the same period in the prior year, the firm posted $1.03 EPS. As a group, research analysts expect that TC Energy will post 2.63 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 30th. Shareholders of record on Wednesday, December 31st will be issued a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $3.40 annualized dividend and a yield of 6.1%. This is an increase from TC Energy’s previous quarterly dividend of $0.61. TC Energy’s payout ratio is 106.47%.

Wall Street Analyst Weigh In

TRP has been the subject of several research reports. Royal Bank Of Canada raised their price objective on shares of TC Energy from $74.00 to $84.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Barclays reissued an “overweight” rating on shares of TC Energy in a report on Tuesday, October 14th. BMO Capital Markets raised TC Energy from a “market perform” rating to an “outperform” rating in a report on Friday, November 7th. Citigroup reiterated a “neutral” rating on shares of TC Energy in a research report on Thursday, November 20th. Finally, Cibc Captl Mkts raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Two investment 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $84.00.

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.