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

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

Institutional Investors Weigh In On TC Energy

Institutional investors have recently bought and sold shares of the stock. Capital Research Global Investors lifted its holdings in TC Energy by 23.7% in the 4th quarter. Capital Research Global Investors now owns 55,677,989 shares of the pipeline company’s stock worth $2,174,931,000 after buying an additional 10,654,993 shares during the period. Norges Bank purchased a new stake in TC Energy in the 4th quarter worth approximately $341,262,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in TC Energy by 70.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 16,540,018 shares of the pipeline company’s stock worth $569,058,000 after buying an additional 6,840,000 shares during the period. Mufg Securities Canada LTD. purchased a new stake in TC Energy in the 4th quarter worth approximately $235,580,000. Finally, Capital International Investors lifted its stake in shares of TC Energy by 11.8% in the 4th quarter. Capital International Investors now owns 55,161,245 shares of the pipeline company’s stock valued at $2,155,419,000 after purchasing an additional 5,822,056 shares during the period. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

TC Energy Price Performance

Shares of TC Energy stock opened at $35.73 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.88 and a debt-to-equity ratio of 1.65. The firm has a market capitalization of $35.73 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 3.10 and a beta of 0.75. The business’s 50-day moving average price is $38.60 and its 200-day moving average price is $38.09. TC Energy has a 12 month low of $32.51 and a 12 month high of $42.49.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.20. The company had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $2.93 billion. TC Energy had a return on equity of 18.60% and a net margin of 18.25%. Sell-side analysts forecast that TC Energy will post 2.9 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were issued a dividend of $0.714 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This is a boost from TC Energy’s previous quarterly dividend of $0.67. This represents a $2.86 annualized dividend and a yield of 7.99%. TC Energy’s dividend payout ratio is currently 139.41%.

Wall Street Analysts Forecast Growth

TRP has been the topic of a number of recent analyst reports. The Goldman Sachs Group lifted their price target on TC Energy from $29.00 to $32.00 and gave the stock a “sell” rating in a report on Friday, January 26th. Jefferies Financial Group began coverage on TC Energy in a research note on Tuesday, February 27th. They issued a “hold” rating on the stock. Stifel Nicolaus began coverage on TC Energy in a research report on Thursday, January 18th. They issued a “buy” rating for the company. Barclays lifted their price target on TC Energy from $53.00 to $55.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. Finally, TheStreet upgraded TC Energy from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, TC Energy presently has an average rating of “Hold” and an average target price of $48.83.

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.