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

TC Energy Corporation (NYSE:TRP) (TSE:TRP) was the target of some unusual options trading activity on Wednesday. Stock 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.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Cibc Captl Mkts upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. BMO Capital Markets raised TC Energy from a “market perform” rating to an “outperform” rating in a report on Friday, November 7th. Barclays reissued an “overweight” rating on shares of TC Energy in a report on Tuesday, October 14th. Scotiabank restated an “outperform” rating on shares of TC Energy in a research note on Monday, October 20th. Finally, TD Securities reaffirmed a “buy” rating on shares of TC Energy in a research report on Friday, October 17th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.00.

TC Energy Stock Up 2.3%

TRP opened at $54.81 on Thursday. TC Energy has a 52 week low of $43.51 and a 52 week high of $55.37. The business has a 50 day moving average price of $52.29 and a two-hundred day moving average price of $50.40. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.54. The company has a market cap of $57.03 billion, a PE 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 announced its earnings results 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 company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $2.63 billion. During the same period last year, the business posted $1.03 EPS. As a group, research analysts anticipate that TC Energy will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be paid 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 6.2%. This is an increase from TC Energy’s previous quarterly dividend of $0.61. TC Energy’s dividend payout ratio is presently 103.88%.

Institutional Trading of TC Energy

Hedge funds have recently made changes to their positions in the company. FORA Capital LLC acquired a new position in shares of TC Energy in the first quarter valued at approximately $776,000. Fractal Investments LLC grew its stake in TC Energy by 34.4% in the 2nd 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 period. TD Asset Management Inc raised its holdings in TC Energy by 6.2% in the 1st quarter. TD Asset Management Inc now owns 17,455,740 shares of the pipeline company’s stock valued at $824,243,000 after acquiring an additional 1,018,590 shares during the last quarter. Cerity Partners LLC raised its holdings in TC Energy by 113.2% in the 1st quarter. Cerity Partners LLC now owns 33,945 shares of the pipeline company’s stock valued at $1,603,000 after acquiring an additional 18,022 shares during the last quarter. Finally, Miller Howard Investments Inc. NY lifted its stake 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 worth $56,296,000 after purchasing an additional 558,498 shares during the period. Institutional investors and hedge funds own 83.13% of the company’s stock.

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.