TC Energy Sees Unusually Large Options Volume (NYSE:TRP)

TC Energy Co. (NYSE:TRP) (TSE:TRP) was the target of unusually large options trading on Wednesday. Stock investors purchased 16,157 put options on the stock. This represents an increase of 1,446% compared to the typical volume of 1,045 put options.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TRP. Allspring Global Investments Holdings LLC lifted its position in TC Energy by 29,994.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 309,376 shares of the pipeline company’s stock worth $12,094,000 after buying an additional 308,348 shares in the last quarter. Addenda Capital Inc. boosted its position in TC Energy by 2.5% during the fourth quarter. Addenda Capital Inc. now owns 1,089,146 shares of the pipeline company’s stock valued at $42,575,000 after purchasing an additional 26,711 shares during the last quarter. Morgan Stanley grew its stake in TC Energy by 42.5% in the third quarter. Morgan Stanley now owns 6,821,231 shares of the pipeline company’s stock valued at $234,719,000 after purchasing an additional 2,034,846 shares in the last quarter. Mondrian Investment Partners LTD increased its position in TC Energy by 9.3% in the 3rd quarter. Mondrian Investment Partners LTD now owns 7,231,694 shares of the pipeline company’s stock worth $248,843,000 after purchasing an additional 618,040 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of TC Energy by 6.5% during the 3rd quarter. Van ECK Associates Corp now owns 296,979 shares of the pipeline company’s stock worth $10,218,000 after purchasing an additional 18,213 shares in the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Price Performance

NYSE TRP opened at $35.10 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.88 and a debt-to-equity ratio of 1.65. TC Energy has a 1 year low of $32.51 and a 1 year high of $42.49. The company has a market cap of $35.10 billion, a PE ratio of 17.29, a PEG ratio of 3.01 and a beta of 0.75. The stock’s 50-day moving average price is $39.14 and its two-hundred day moving average price is $37.96.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.20. TC Energy had a net margin of 18.25% and a return on equity of 18.60%. The business had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.93 billion. On average, analysts predict that TC Energy will post 2.99 EPS for the current year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be given a $0.714 dividend. This represents a $2.86 annualized dividend and a dividend yield of 8.14%. The ex-dividend date of this dividend is Wednesday, March 27th. This is a boost from TC Energy’s previous quarterly dividend of $0.67. TC Energy’s dividend payout ratio (DPR) is 139.41%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TRP. TheStreet raised shares of TC Energy from a “c+” rating to a “b-” rating in a research note on Wednesday, March 20th. Stifel Nicolaus started coverage on TC Energy in a report on Thursday, January 18th. They set a “buy” rating on the stock. Jefferies Financial Group assumed coverage on shares of TC Energy in a report on Tuesday, February 27th. They issued a “hold” rating for the company. Barclays lifted their price objective on shares of TC Energy from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. Finally, The Goldman Sachs Group increased their target price on shares of TC Energy from $29.00 to $32.00 and gave the company a “sell” rating in a research note on Friday, January 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $48.83.

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.