TC Energy Sees Unusually High Options Volume (NYSE:TRP)

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

Analyst Ratings Changes

Several brokerages have weighed in on TRP. Barclays reiterated an “overweight” rating on shares of TC Energy in a research report on Tuesday, October 14th. Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a research note on Monday, October 20th. Cibc World Mkts lowered shares of TC Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. TD Securities reissued a “buy” rating on shares of TC Energy in a report on Friday, October 17th. Finally, Wall Street Zen cut shares of TC Energy from a “hold” rating to a “sell” rating in a research report on Sunday, January 4th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $84.00.

Institutional Trading of TC Energy

Several large investors have recently bought and sold shares of the company. AQR Capital Management LLC lifted its stake in shares of TC Energy by 54.0% in the 1st quarter. AQR Capital Management LLC now owns 11,099 shares of the pipeline company’s stock valued at $538,000 after purchasing an additional 3,892 shares during the period. Focus Partners Wealth grew its stake in TC Energy by 46.1% in the first quarter. Focus Partners Wealth now owns 12,446 shares of the pipeline company’s stock worth $588,000 after purchasing an additional 3,929 shares during the period. Intech Investment Management LLC raised its holdings in TC Energy by 200.7% in the first quarter. Intech Investment Management LLC now owns 26,878 shares of the pipeline company’s stock worth $1,269,000 after purchasing an additional 17,939 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in TC Energy by 21.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 24,893 shares of the pipeline company’s stock valued at $1,199,000 after buying an additional 4,362 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in TC Energy by 2.7% during the second quarter. Assenagon Asset Management S.A. now owns 31,187 shares of the pipeline company’s stock valued at $1,519,000 after buying an additional 832 shares during the period. 83.13% of the stock is owned by institutional investors.

TC Energy Stock Performance

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

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, November 6th. The pipeline company reported $0.56 EPS for the quarter, hitting the consensus estimate of $0.56. TC Energy had a net margin of 23.86% and a return on equity of 10.61%. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $2.63 billion. During the same period in the prior year, the business earned $1.03 EPS. As a group, research analysts predict that TC Energy will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Wednesday, December 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.61. This represents a $3.40 dividend on an annualized basis and a yield of 6.3%. TC Energy’s payout ratio is currently 106.90%.

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.