Investors Purchase High Volume of TC Energy Put Options (NYSE:TRP)

TC Energy Co. (NYSE:TRP - Get Free Report) TSE: TRP was the recipient of unusually large options trading activity on Wednesday. Traders acquired 16,157 put options on the stock. This is an increase of 1,446% compared to the average volume of 1,045 put options.

TC Energy Stock Up 0.0 %

TRP stock traded up $0.01 during midday trading on Thursday, hitting $47.78. The company's stock had a trading volume of 1,259,612 shares, compared to its average volume of 1,416,501. The firm has a 50-day simple moving average of $47.75 and a 200-day simple moving average of $45.23. The firm has a market capitalization of $49.63 billion, a P/E ratio of 13.24, a PEG ratio of 3.88 and a beta of 0.82. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. TC Energy has a 52-week low of $31.83 and a 52-week high of $50.37.

TC Energy (NYSE:TRP - Get Free Report) 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 analysts' consensus estimates of $0.70 by $0.06. The firm had revenue of $2.99 billion during 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, equities analysts forecast that TC Energy will post 3 EPS for the current year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.822 dividend. This represents a $3.29 dividend on an annualized basis and a dividend yield of 6.88%. This is a positive change from TC Energy's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Tuesday, December 31st. TC Energy's dividend payout ratio (DPR) is presently 67.31%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on TRP shares. Veritas upgraded TC Energy to a "strong sell" rating in a research report on Tuesday, October 8th. The Goldman Sachs Group upped their target price on 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 TC Energy from a "neutral" rating to an "overweight" rating in a report on Monday, October 14th. UBS Group raised shares of TC Energy from a "neutral" rating to a "buy" rating in a report on Monday, September 30th. Finally, BMO Capital Markets lifted their target price on shares of TC Energy from $66.00 to $70.00 and gave the stock a "market perform" rating in a research note on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $55.67.

Institutional Investors Weigh In On TC Energy

Several institutional investors have recently modified their holdings of TRP. Versant Capital Management Inc purchased a new stake in shares of TC Energy during the 4th quarter worth approximately $33,000. B. Riley Wealth Advisors Inc. lifted its position in TC Energy by 58.0% in the third quarter. B. Riley Wealth Advisors Inc. now owns 8,769 shares of the pipeline company's stock valued at $409,000 after acquiring an additional 3,218 shares during the last quarter. Centerstone Investors LLC lifted its position in TC Energy by 3.4% in the third quarter. Centerstone Investors LLC now owns 328,440 shares of the pipeline company's stock valued at $14,550,000 after acquiring an additional 10,890 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in TC Energy in the third quarter valued at $186,000. Finally, TD Private Client Wealth LLC grew 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 worth $3,122,000 after purchasing an additional 1,676 shares during the last quarter. 83.13% of the stock is owned by hedge funds and other 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.