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

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

Institutional Investors Weigh In On TC Energy

Several large investors have recently modified their holdings of the stock. Cetera Investment Advisers boosted its stake in TC Energy by 74.1% in the 1st quarter. Cetera Investment Advisers now owns 98,729 shares of the pipeline company’s stock valued at $3,972,000 after buying an additional 42,024 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of TC Energy by 2.6% in the 2nd quarter. CIBC Asset Management Inc now owns 8,515,086 shares of the pipeline company’s stock valued at $322,584,000 after purchasing an additional 214,689 shares in the last quarter. Harvest Portfolios Group Inc. grew its holdings in shares of TC Energy by 107.7% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 226,007 shares of the pipeline company’s stock worth $10,743,000 after purchasing an additional 117,176 shares during the last quarter. Metis Global Partners LLC increased its position in shares of TC Energy by 16.3% during the 3rd quarter. Metis Global Partners LLC now owns 95,470 shares of the pipeline company’s stock worth $4,538,000 after purchasing an additional 13,368 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in TC Energy by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 11,892,999 shares of the pipeline company’s stock valued at $450,749,000 after purchasing an additional 467,497 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. BMO Capital Markets lifted their price target on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. The Goldman Sachs Group increased their price objective on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Monday, October 21st. StockNews.com started coverage on shares of TC Energy in a research report on Tuesday. They set a “hold” rating on the stock. Finally, Veritas raised shares of TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, TC Energy presently has a consensus rating of “Hold” and a consensus target price of $55.67.

TC Energy Stock Performance

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

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.83 billion. Sell-side analysts expect that TC Energy will post 2.98 EPS for the current year.

TC Energy Increases Dividend

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

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.