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

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

Institutional Investors Weigh In On TC Energy

A number of hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc acquired a new stake in shares of TC Energy during the 4th quarter worth approximately $33,000. B. Riley Wealth Advisors Inc. boosted its stake in TC Energy by 58.0% during the third quarter. B. Riley Wealth Advisors Inc. now owns 8,769 shares of the pipeline company’s stock worth $409,000 after acquiring an additional 3,218 shares in the last quarter. Centerstone Investors LLC grew its holdings in TC Energy by 3.4% in the third quarter. Centerstone Investors LLC now owns 328,440 shares of the pipeline company’s stock worth $14,550,000 after purchasing an additional 10,890 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in TC Energy in the third quarter valued at $186,000. Finally, TD Private Client Wealth LLC raised its holdings in shares of TC Energy by 2.6% during the third quarter. TD Private Client Wealth LLC now owns 65,595 shares of the pipeline company’s stock valued at $3,122,000 after purchasing an additional 1,676 shares during the period. 83.13% of the stock is currently owned by institutional investors.

TC Energy Stock Up 0.0 %

Shares of NYSE TRP opened at $47.78 on Thursday. The company’s 50 day moving average price is $47.72 and its 200-day moving average price is $45.21. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. TC Energy has a 52-week low of $31.83 and a 52-week high of $50.37. The company has a market capitalization of $49.63 billion, a P/E ratio of 13.24, a price-to-earnings-growth ratio of 3.88 and a beta of 0.82.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.06. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. Equities analysts forecast that TC Energy will post 3 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.822 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.29 annualized dividend and a yield of 6.88%. This is a boost from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s dividend payout ratio (DPR) is currently 67.31%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TRP shares. Veritas raised TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. StockNews.com assumed coverage on shares of TC Energy in a report on Wednesday, December 4th. They set a “hold” rating on the stock. Finally, JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, TC Energy currently has an average rating of “Hold” and a consensus price target of $55.67.

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.