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

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

TC Energy Stock Down 0.4 %

NYSE TRP traded down $0.20 on Thursday, reaching $46.09. The stock had a trading volume of 735,955 shares, compared to its average volume of 3,007,136. 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 business has a 50 day moving average price of $47.72 and a 200 day moving average price of $44.63. The company has a market capitalization of $47.84 billion, a price-to-earnings ratio of 12.77, a P/E/G ratio of 3.88 and a beta of 0.82.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.70 by $0.06. The business had revenue of $2.99 billion during the quarter, compared to analysts' expectations of $2.83 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. On average, analysts forecast that TC Energy will post 3 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.822 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a dividend yield of 7.13%. This is an increase from TC Energy's previous quarterly dividend of $0.70. TC Energy's dividend payout ratio (DPR) is currently 67.31%.

Analysts Set New Price Targets

TRP has been the topic of several analyst reports. JPMorgan Chase & Co. raised shares of TC Energy from a "neutral" rating to an "overweight" rating in a research report on Monday, October 14th. The Goldman Sachs Group lifted their price objective on shares of TC Energy from $38.00 to $42.00 and gave the stock a "sell" rating in a research report on Monday, October 21st. BMO Capital Markets increased their target price on TC Energy from $66.00 to $70.00 and gave the company a "market perform" rating in a report on Wednesday, November 20th. Morgan Stanley upgraded TC Energy from an "underweight" rating to an "overweight" rating in a report on Friday, October 25th. Finally, StockNews.com started coverage on TC Energy in a research note on Wednesday, December 4th. They issued a "hold" rating for the company. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, TC Energy currently has a consensus rating of "Hold" and a consensus target price of $55.67.

Institutional Investors Weigh In On TC Energy

Several institutional investors and hedge funds have recently modified their holdings of the business. Signature Estate & Investment Advisors LLC acquired a new stake in shares of TC Energy in the second quarter worth about $329,000. Atomi Financial Group Inc. boosted its position in TC Energy by 31.1% during the second quarter. Atomi Financial Group Inc. now owns 7,155 shares of the pipeline company's stock worth $271,000 after purchasing an additional 1,697 shares during the period. Whittier Trust Co. of Nevada Inc. grew its holdings in TC Energy by 138.8% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company's stock valued at $28,000 after purchasing an additional 429 shares during the last quarter. Ridgewood Investments LLC acquired a new position in TC Energy during the second quarter valued at approximately $79,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of TC Energy by 10.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 301,595 shares of the pipeline company's stock valued at $11,430,000 after purchasing an additional 27,488 shares during the period. Institutional investors and hedge funds own 83.13% of the company's stock.

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.