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

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on TRP shares. Royal Bank of Canada upped their target price on shares of TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. BMO Capital Markets lifted their target price on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. TD Securities began coverage on TC Energy in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. Finally, StockNews.com lowered TC Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, TC Energy currently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

Institutional Trading of TC Energy

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of TC Energy by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 43,687,141 shares of the pipeline company’s stock worth $2,035,952,000 after purchasing an additional 734,678 shares during the last quarter. FIL Ltd increased its holdings in TC Energy by 10.3% during the fourth quarter. FIL Ltd now owns 28,443,403 shares of the pipeline company’s stock worth $1,325,558,000 after buying an additional 2,644,627 shares during the last quarter. TD Asset Management Inc. increased its holdings in TC Energy by 2.1% during the fourth quarter. TD Asset Management Inc. now owns 16,437,150 shares of the pipeline company’s stock worth $765,627,000 after buying an additional 344,485 shares during the last quarter. Canada Pension Plan Investment Board raised its position in TC Energy by 9.5% during the fourth quarter. Canada Pension Plan Investment Board now owns 14,755,330 shares of the pipeline company’s stock worth $686,763,000 after acquiring an additional 1,280,000 shares in the last quarter. Finally, Norges Bank acquired a new stake in TC Energy in the fourth quarter valued at $428,759,000. Institutional investors own 83.13% of the company’s stock.

TC Energy Price Performance

Shares of TRP opened at $48.30 on Thursday. The stock has a market cap of $50.19 billion, a P/E ratio of 14.91, a price-to-earnings-growth ratio of 4.34 and a beta of 0.83. TC Energy has a 1 year low of $34.95 and a 1 year high of $50.37. The stock’s 50-day moving average price is $46.27 and its two-hundred day moving average price is $46.84. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.54. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.42 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same quarter last year, the firm earned $1.35 EPS. On average, equities analysts predict that TC Energy will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a $0.85 dividend. This is a boost from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.40 annualized dividend and a yield of 7.04%. TC Energy’s payout ratio is presently 72.53%.

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.