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

TC Energy Co. (NYSE:TRP) (TSE:TRP) was the recipient of unusually large options trading on Wednesday. Investors acquired 16,157 put options on the stock. This represents an increase of 1,446% compared to the average volume of 1,045 put options.

Hedge Funds Weigh In On TC Energy

Institutional investors have recently made changes to their positions in the company. Canada Pension Plan Investment Board raised its holdings in TC Energy by 107.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock worth $737,609,000 after purchasing an additional 10,065,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of TC Energy by 156.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock valued at $321,778,000 after buying an additional 4,126,801 shares in the last quarter. Merewether Investment Management LP acquired a new position in shares of TC Energy during the 2nd quarter worth approximately $112,618,000. Marshall Wace LLP lifted its position in shares of TC Energy by 841.1% during the 2nd quarter. Marshall Wace LLP now owns 2,040,863 shares of the pipeline company’s stock valued at $77,349,000 after buying an additional 1,824,008 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new stake in TC Energy in the 3rd quarter valued at $73,162,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Trading Up 0.3 %

NYSE TRP opened at $46.29 on Thursday. The company has a fifty day moving average of $47.77 and a 200 day moving average of $44.61. The company has a market capitalization of $48.05 billion, a PE ratio of 12.82, a P/E/G ratio of 3.88 and a beta of 0.82. 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 has a 1 year low of $31.83 and a 1 year high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Thursday, November 7th. The pipeline company reported $0.76 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 the consensus estimate of $2.83 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. Research analysts forecast that TC Energy will post 3 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.822 per share. This is a boost from TC Energy’s previous quarterly dividend of $0.70. 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 7.10%. TC Energy’s dividend payout ratio (DPR) is presently 67.31%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TRP. StockNews.com began coverage on TC Energy in a report on Wednesday, December 4th. They issued a “hold” rating for the company. BMO Capital Markets upped their price target on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. Finally, Veritas upgraded TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $55.67.

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.