Stock Traders Buy Large Volume of Put Options on TC Energy (NYSE:TRP)

TC Energy Co. (NYSE:TRP) (TSE:TRP) saw unusually large options trading activity on Wednesday. Stock traders purchased 16,157 put options on the company. This is an increase of 1,446% compared to the average daily volume of 1,045 put options.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TRP. BMO Capital Markets increased their price target on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. TD Securities assumed coverage on shares of TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. Royal Bank of Canada raised their price objective on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $62.00.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Norges Bank acquired a new position in TC Energy in the fourth quarter worth $428,759,000. Mufg Securities Canada LTD. increased its holdings in shares of TC Energy by 571.7% in the fourth quarter. Mufg Securities Canada LTD. now owns 6,184,832 shares of the pipeline company’s stock worth $288,043,000 after acquiring an additional 5,264,079 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of TC Energy by 156.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock worth $321,778,000 after buying an additional 4,126,801 shares in the last quarter. Blackstone Inc. grew its holdings in shares of TC Energy by 83.8% during the fourth quarter. Blackstone Inc. now owns 7,637,469 shares of the pipeline company’s stock worth $355,371,000 after buying an additional 3,482,874 shares in the last quarter. Finally, FIL Ltd grew its stake in TC Energy by 10.3% in the fourth quarter. FIL Ltd now owns 28,443,403 shares of the pipeline company’s stock valued at $1,325,558,000 after purchasing an additional 2,644,627 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Price Performance

TC Energy stock opened at $45.52 on Friday. TC Energy has a 52 week low of $31.83 and a 52 week high of $50.37. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. The firm’s 50-day simple moving average is $46.51 and its 200 day simple moving average is $46.61. The firm has a market capitalization of $47.30 billion, a PE ratio of 14.05, a P/E/G ratio of 4.43 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.54. The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.42 billion. TC Energy had a return on equity of 11.95% and a net margin of 29.40%. During the same quarter in the previous year, the business earned $1.35 EPS. On average, equities research analysts predict that TC Energy will post 2.62 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm 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 dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 7.47%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s payout ratio is 70.68%.

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.