Traders Buy Large Volume of TC Energy Put Options (NYSE:TRP)

TC Energy Co. (NYSE:TRP) (TSE:TRP) was the target of some unusual options trading on Wednesday. Stock traders acquired 16,157 put options on the company. This represents an increase of approximately 1,446% compared to the typical volume of 1,045 put options.

TC Energy Trading Down 0.7 %

NYSE TRP opened at $48.41 on Friday. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. TC Energy has a 1-year low of $31.83 and a 1-year high of $50.37. The firm’s fifty day simple moving average is $47.43 and its 200-day simple moving average is $43.48. The company has a market capitalization of $50.25 billion, a PE ratio of 13.41, a price-to-earnings-growth ratio of 4.12 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.06. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. As a group, sell-side analysts anticipate that TC Energy will post 2.98 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.822 dividend. The ex-dividend date is Tuesday, December 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 dividend on an annualized basis and a yield of 6.79%. TC Energy’s payout ratio is 67.31%.

Analyst Upgrades and Downgrades

TRP has been the topic of several recent analyst reports. UBS Group upgraded TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. The Goldman Sachs Group boosted their price target on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a report on Monday, October 21st. JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. StockNews.com began coverage on TC Energy in a report on Tuesday. They issued a “hold” rating for the company. Finally, Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, TC Energy has an average rating of “Hold” and a consensus target price of $55.67.

Institutional Trading of TC Energy

Large investors have recently added to or reduced their stakes in the business. Centerstone Investors LLC raised its holdings in shares of TC Energy by 3.4% during the 3rd quarter. Centerstone Investors LLC now owns 328,440 shares of the pipeline company’s stock valued at $14,550,000 after purchasing an additional 10,890 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in TC Energy during the third quarter worth $186,000. TD Private Client Wealth LLC lifted its position in shares of TC Energy by 2.6% in the third quarter. TD Private Client Wealth LLC now owns 65,595 shares of the pipeline company’s stock worth $3,122,000 after buying an additional 1,676 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of TC Energy by 8.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,712,660 shares of the pipeline company’s stock worth $225,890,000 after acquiring an additional 360,548 shares in the last quarter. Finally, Executive Wealth Management LLC acquired a new position in shares of TC Energy during the 3rd quarter valued at about $443,000. 83.13% of the stock is owned by institutional investors.

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.