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

TC Energy Corporation (NYSE:TRP) (TSE:TRP) saw some unusual options trading activity on Wednesday. Stock investors bought 16,157 put options on the stock. This represents an increase of 1,446% compared to the average daily volume of 1,045 put options.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TRP. Purpose Unlimited Inc. bought a new stake in TC Energy during the 4th quarter worth $28,510,000. Rockefeller Capital Management L.P. raised its position in TC Energy by 4.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 13,767 shares of the pipeline company’s stock valued at $757,000 after purchasing an additional 536 shares during the last quarter. World Investment Advisors boosted its stake in shares of TC Energy by 25.8% during the fourth quarter. World Investment Advisors now owns 5,444 shares of the pipeline company’s stock valued at $300,000 after purchasing an additional 1,115 shares in the last quarter. Corient Private Wealth LLC boosted its stake in shares of TC Energy by 45.6% during the fourth quarter. Corient Private Wealth LLC now owns 46,700 shares of the pipeline company’s stock valued at $2,576,000 after purchasing an additional 14,629 shares in the last quarter. Finally, Bayban bought a new stake in shares of TC Energy during the fourth quarter worth about $54,000. 83.13% of the stock is currently owned by institutional investors.

TC Energy Trading Down 0.6%

TRP opened at $62.23 on Thursday. The company’s 50 day moving average is $61.97 and its 200-day moving average is $56.47. TC Energy has a 1-year low of $43.59 and a 1-year high of $65.57. The company has a current ratio of 0.63, a quick ratio of 0.56 and a debt-to-equity ratio of 1.66. The company has a market cap of $64.79 billion, a P/E ratio of 26.78 and a beta of 0.69.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.05. The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.94 billion. TC Energy had a net margin of 23.04% and a return on equity of 10.52%. During the same period in the previous year, the firm posted $1.05 EPS. Equities research analysts predict that TC Energy will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a dividend yield of 5.6%. This is a boost from TC Energy’s previous quarterly dividend of $0.85. The ex-dividend date is Tuesday, March 31st. TC Energy’s dividend payout ratio (DPR) is currently 110.78%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Citigroup reiterated a “neutral” rating on shares of TC Energy in a research report on Thursday, February 19th. Wells Fargo & Company restated an “overweight” rating on shares of TC Energy in a research report on Monday, February 16th. Barclays restated an “overweight” rating on shares of TC Energy in a research note on Friday, February 20th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of TC Energy in a report on Monday, December 29th. Finally, Raymond James Financial raised TC Energy to a “hold” rating in a report on Tuesday, February 17th. Seven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, TC Energy has a consensus rating of “Hold” and an average price target of $72.50.

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.