TC Energy Target of Unusually Large Options Trading (NYSE:TRP)

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

TC Energy Trading Down 0.6%

Shares of TRP stock opened at $53.96 on Thursday. The company has a current ratio of 0.63, a quick ratio of 0.56 and a debt-to-equity ratio of 1.60. TC Energy has a twelve month low of $43.51 and a twelve month high of $56.34. The company’s 50-day moving average price is $54.51 and its 200-day moving average price is $52.17. The stock has a market cap of $56.16 billion, a price-to-earnings ratio of 23.26 and a beta of 0.72.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Thursday, November 6th. The pipeline company reported $0.56 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.56. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $2.63 billion. TC Energy had a net margin of 23.86% and a return on equity of 10.61%. During the same period last year, the business earned $1.03 earnings per share. As a group, 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 declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 6.3%. The ex-dividend date of this dividend is Wednesday, December 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.61. TC Energy’s dividend payout ratio is presently 106.90%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Trust Co. of Vermont purchased a new stake in TC Energy in the fourth quarter valued at $28,000. Hilltop National Bank acquired a new stake in shares of TC Energy during the 2nd quarter worth about $32,000. Westside Investment Management Inc. raised its holdings in TC Energy by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 594 shares of the pipeline company’s stock valued at $32,000 after buying an additional 297 shares during the period. SWAN Capital LLC purchased a new stake in TC Energy in the 3rd quarter valued at about $40,000. Finally, Harbor Asset Planning Inc. acquired a new position in TC Energy in the second quarter valued at about $43,000. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on TRP shares. Cibc Captl Mkts upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. TD Securities reaffirmed a “buy” rating on shares of TC Energy in a report on Friday, October 17th. Barclays reiterated an “overweight” rating on shares of TC Energy in a research report on Tuesday, October 14th. Citigroup restated a “neutral” rating on shares of TC Energy in a research report on Thursday, November 20th. Finally, BMO Capital Markets raised shares of TC Energy from a “market perform” rating to an “outperform” rating in a research note on Friday, November 7th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $84.00.

About TC Energy

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long?distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.