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

TC Energy Corporation (NYSE:TRP) (TSE:TRP) was the recipient of unusually large options trading activity on Wednesday. Investors purchased 16,157 put options on the company. This is an increase of 1,446% compared to the average volume of 1,045 put options.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TRP. Cibc Captl Mkts raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. BMO Capital Markets raised shares of TC Energy from a “market perform” rating to an “outperform” rating in a report on Friday, November 7th. Citigroup reiterated a “neutral” rating on shares of TC Energy in a research report on Thursday, November 20th. TD Securities restated a “buy” rating on shares of TC Energy in a research report on Friday, October 17th. Finally, Scotiabank restated an “outperform” rating on shares of TC Energy in a research note on Monday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, TC Energy has a consensus rating of “Moderate Buy” and a consensus target price of $84.00.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TRP. Norges Bank purchased a new stake in shares of TC Energy in the 2nd quarter valued at $493,434,000. American Century Companies Inc. raised its position in TC Energy by 514.5% in the 3rd quarter. American Century Companies Inc. now owns 6,491,799 shares of the pipeline company’s stock worth $352,976,000 after purchasing an additional 5,435,310 shares during the period. Public Sector Pension Investment Board lifted its stake in TC Energy by 2,573.3% in the second quarter. Public Sector Pension Investment Board now owns 2,680,572 shares of the pipeline company’s stock worth $130,600,000 after purchasing an additional 2,580,300 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in TC Energy during the second quarter valued at about $104,628,000. Finally, Picton Mahoney Asset Management bought a new position in shares of TC Energy during the second quarter valued at about $100,398,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Stock Performance

NYSE TRP opened at $53.96 on Thursday. TC Energy has a 52-week low of $43.51 and a 52-week high of $56.34. The company has a fifty day moving average of $54.51 and a 200-day moving average of $52.17. The company has a market capitalization of $56.16 billion, a P/E ratio of 23.26 and a beta of 0.72. 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 (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, November 6th. The pipeline company reported $0.56 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.56. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $2.63 billion. TC Energy had a return on equity of 10.61% and a net margin of 23.86%.During the same quarter in the previous year, the company posted $1.03 earnings per share. As a group, equities research analysts predict that TC Energy will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The company 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. This is an increase from TC Energy’s previous quarterly dividend of $0.61. This represents a $3.40 annualized dividend and a yield of 6.3%. The ex-dividend date of this dividend is Wednesday, December 31st. TC Energy’s payout ratio is currently 106.90%.

About TC Energy

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.