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

TC Energy Corporation (NYSE:TRP) (TSE:TRP) saw some unusual options trading activity on Wednesday. Traders acquired 16,157 put options on the company. This is an increase of 1,446% compared to the typical volume of 1,045 put options.

TC Energy Stock Performance

Shares of TRP opened at $54.02 on Thursday. The stock has a market capitalization of $56.21 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 4.82 and a beta of 0.73. The business’s fifty day moving average price is $52.74 and its 200 day moving average price is $50.68. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.61 and a quick ratio of 0.54. TC Energy has a 12-month low of $43.51 and a 12-month high of $55.37.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Thursday, November 6th. The pipeline company reported $0.56 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.56. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $2.63 billion. During the same period in the prior year, the company earned $1.03 earnings per share. Equities research analysts forecast that TC Energy will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The business also recently announced 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 is Wednesday, December 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.61. This represents a $3.40 dividend on an annualized basis and a yield of 6.3%. TC Energy’s payout ratio is presently 103.88%.

Analyst Ratings Changes

Several research analysts recently commented on TRP shares. Citigroup reiterated a “neutral” rating on shares of TC Energy in a research note on Thursday, November 20th. BMO Capital Markets raised TC Energy from a “market perform” rating to an “outperform” rating in a research report on Friday, November 7th. 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. TD Securities restated a “buy” rating on shares of TC Energy in a research note on Friday, October 17th. Finally, Barclays reiterated an “overweight” rating on shares of TC Energy in a research note on Tuesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $84.00.

Hedge Funds Weigh In On TC Energy

Several institutional investors have recently made changes to their positions in the stock. Manhattan West Asset Management LLC acquired a new position in TC Energy during the 3rd quarter valued at approximately $201,000. CIBC Bancorp USA Inc. bought a new stake in TC Energy in the third quarter valued at $21,107,000. Greenline Partners LLC boosted its holdings in shares of TC Energy by 3.4% during the third quarter. Greenline Partners LLC now owns 314,303 shares of the pipeline company’s stock valued at $17,101,000 after acquiring an additional 10,336 shares during the period. CANADA LIFE ASSURANCE Co grew its position in shares of TC Energy by 2.6% during the third quarter. CANADA LIFE ASSURANCE Co now owns 1,161,633 shares of the pipeline company’s stock worth $61,639,000 after acquiring an additional 29,908 shares during the last quarter. Finally, Wiser Advisor Group LLC bought a new position in shares of TC Energy during the third quarter worth about $393,000. 83.13% of the stock is owned by institutional investors.

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.