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

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

Institutional Trading of TC Energy

Hedge funds have recently added to or reduced their stakes in the business. Captrust Financial Advisors increased its holdings in shares of TC Energy by 1.3% during the 3rd quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company's stock worth $871,000 after buying an additional 242 shares during the last quarter. Signaturefd LLC increased its stake in TC Energy by 1.6% during the second quarter. Signaturefd LLC now owns 16,373 shares of the pipeline company's stock worth $621,000 after acquiring an additional 261 shares during the last quarter. Prospera Financial Services Inc raised its holdings in shares of TC Energy by 4.8% in the 3rd quarter. Prospera Financial Services Inc now owns 5,754 shares of the pipeline company's stock worth $274,000 after purchasing an additional 262 shares during the period. First Horizon Advisors Inc. lifted its stake in shares of TC Energy by 8.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 3,505 shares of the pipeline company's stock valued at $167,000 after purchasing an additional 264 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of TC Energy by 72.0% during the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company's stock worth $30,000 after purchasing an additional 267 shares during the period. 83.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TRP shares. Morgan Stanley raised shares of TC Energy from an "underweight" rating to an "overweight" rating in a report on Friday, October 25th. StockNews.com assumed coverage on TC Energy in a report on Tuesday. They set a "hold" rating for the company. BMO Capital Markets upped 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. JPMorgan Chase & Co. raised TC Energy from a "neutral" rating to an "overweight" rating in a research note on Monday, October 14th. Finally, The Goldman Sachs Group increased their price objective on shares of TC Energy from $38.00 to $42.00 and gave the company a "sell" rating in a research note on Monday, October 21st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, TC Energy presently has a consensus rating of "Hold" and an average price target of $55.67.

TC Energy Trading Down 0.7 %

NYSE:TRP traded down $0.33 on Thursday, reaching $48.41. The stock had a trading volume of 2,809,490 shares, compared to its average volume of 3,054,366. TC Energy has a 12-month low of $31.83 and a 12-month high of $50.37. The company has a market cap of $50.25 billion, a price-to-earnings ratio of 13.41, a P/E/G ratio of 4.12 and a beta of 0.81. The firm's fifty day moving average is $47.43 and its two-hundred day moving average is $43.48. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.70 by $0.06. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. Equities analysts expect that TC Energy will post 2.98 EPS for the current fiscal 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 $0.822 dividend. This is a positive change from TC Energy's previous quarterly dividend of $0.70. This represents a $3.29 annualized dividend and a yield of 6.79%. The ex-dividend date of this dividend is Tuesday, December 31st. TC Energy's dividend payout ratio is presently 67.31%.

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.