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

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

TC Energy Stock Performance

Shares of TC Energy stock opened at $53.84 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. The stock’s fifty day moving average price is $52.90 and its 200-day moving average price is $51.01. The firm has a market cap of $56.03 billion, a P/E ratio of 23.20 and a beta of 0.70. TC Energy has a 12 month low of $43.51 and a 12 month high of $55.37.

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 for the quarter, hitting analysts’ consensus estimates of $0.56. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates 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 in the prior year, the firm earned $1.03 earnings per share. On average, equities research analysts expect that TC Energy will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 6.3%. This is a positive change from TC Energy’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Wednesday, December 31st. TC Energy’s payout ratio is presently 106.47%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on TRP shares. TD Securities reissued a “buy” rating on shares of TC Energy in a research note on Friday, October 17th. Royal Bank Of Canada lifted their target price on TC Energy from $74.00 to $84.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Cibc World Mkts cut shares of TC Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. 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. Finally, Wall Street Zen cut shares of TC Energy from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, TC Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.00.

Institutional Trading of TC Energy

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of TC Energy by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 46,821,474 shares of the pipeline company’s stock worth $2,545,777,000 after acquiring an additional 914,168 shares in the last quarter. Capital Research Global Investors grew its stake in TC Energy by 2.5% in the third quarter. Capital Research Global Investors now owns 41,977,582 shares of the pipeline company’s stock valued at $2,282,469,000 after purchasing an additional 1,041,864 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in shares of TC Energy by 5.9% during the second quarter. Canada Pension Plan Investment Board now owns 20,986,748 shares of the pipeline company’s stock valued at $1,025,220,000 after buying an additional 1,178,190 shares during the last quarter. TD Asset Management Inc boosted its holdings in shares of TC Energy by 2.9% in the 3rd quarter. TD Asset Management Inc now owns 19,624,247 shares of the pipeline company’s stock valued at $1,067,246,000 after buying an additional 550,066 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of TC Energy by 2,565.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 16,306,187 shares of the pipeline company’s stock worth $769,815,000 after buying an additional 15,694,336 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

About TC Energy

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.