Investors Purchase Large Volume of Put Options on TC Energy (NYSE:TRP)

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

Wall Street Analysts Forecast Growth

TRP has been the topic of several analyst reports. Scotiabank reiterated an “outperform” rating on shares of TC Energy in a report on Monday, October 20th. Royal Bank Of Canada increased their price objective on shares of TC Energy from $74.00 to $84.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Barclays reiterated an “overweight” rating on shares of TC Energy in a research note on Tuesday, October 14th. Citigroup restated a “neutral” rating on shares of TC Energy in a research note on Thursday, November 20th. Finally, BMO Capital Markets raised shares of TC Energy from a “market perform” rating to an “outperform” rating in a report on Friday, November 7th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $84.00.

Institutional Trading of TC Energy

Institutional investors and hedge funds have recently modified their holdings of the business. Aventura Private Wealth LLC bought a new stake in shares of TC Energy during the 4th quarter valued at about $68,000. Allworth Financial LP lifted its holdings in TC Energy by 16.4% in the third quarter. Allworth Financial LP now owns 2,151 shares of the pipeline company’s stock worth $117,000 after acquiring an additional 303 shares during the last quarter. Swiss Life Asset Management Ltd grew its holdings in shares of TC Energy by 13.7% during the third 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 bought a new position in shares of TC Energy during the third quarter valued at approximately $201,000. Finally, CIBC Bancorp USA Inc. acquired a new stake in shares of TC Energy during the 3rd quarter worth approximately $21,107,000. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Price Performance

TRP opened at $53.15 on Thursday. The company has a market capitalization of $55.32 billion, a P/E ratio of 22.91 and a beta of 0.72. The company has a 50-day moving average of $53.97 and a 200-day moving average of $51.73. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.56 and a current ratio of 0.63. TC Energy has a 1-year low of $43.51 and a 1-year high of $56.34.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Thursday, November 6th. The pipeline company reported $0.56 EPS for the quarter, hitting analysts’ consensus estimates of $0.56. TC Energy had a return on equity of 10.61% and a net margin of 23.86%.The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $2.63 billion. During the same period last year, the firm earned $1.03 earnings per share. Equities analysts expect that TC Energy will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $3.40 annualized dividend and a dividend yield of 6.4%. This is an increase from TC Energy’s previous quarterly dividend of $0.61. TC Energy’s dividend payout ratio is currently 106.90%.

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.