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

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

TC Energy Trading Down 0.5%

TRP opened at $51.79 on Thursday. TC Energy has a one year low of $43.51 and a one year high of $55.37. The stock has a market capitalization of $53.87 billion, a PE ratio of 17.67, a P/E/G ratio of 4.88 and a beta of 0.75. The business’s 50 day moving average price is $52.19 and its 200 day moving average price is $49.86. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.54 and a current ratio of 0.61.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Thursday, July 31st. The pipeline company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same period in the prior year, the firm posted $0.79 earnings per share. As a group, equities research analysts expect that TC Energy will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be issued a $0.6148 dividend. This is a boost from TC Energy’s previous quarterly dividend of $0.61. This represents a $2.46 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Monday, September 29th. TC Energy’s payout ratio is currently 84.30%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Cibc World Mkts cut TC Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Wall Street Zen cut TC Energy from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Weiss Ratings restated a “buy (b-)” rating on shares of TC Energy in a report on Wednesday, October 8th. Barclays restated an “overweight” rating on shares of TC Energy in a report on Tuesday. Finally, US Capital Advisors cut TC Energy from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, TC Energy presently has a consensus rating of “Moderate Buy” and an average price target of $62.00.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TRP. Goldman Sachs Group Inc. lifted its holdings in TC Energy by 2,565.1% in the first quarter. Goldman Sachs Group Inc. now owns 16,306,187 shares of the pipeline company’s stock valued at $769,815,000 after acquiring an additional 15,694,336 shares during the last quarter. Norges Bank acquired a new position in TC Energy during the second quarter worth $493,434,000. Bank of Nova Scotia lifted its stake in TC Energy by 80.3% during the first quarter. Bank of Nova Scotia now owns 16,983,443 shares of the pipeline company’s stock worth $802,164,000 after purchasing an additional 7,562,887 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in TC Energy by 34.2% during the first quarter. Canada Pension Plan Investment Board now owns 19,808,558 shares of the pipeline company’s stock worth $935,627,000 after purchasing an additional 5,053,228 shares in the last quarter. Finally, Deutsche Bank AG lifted its stake in TC Energy by 175.1% during the first quarter. Deutsche Bank AG now owns 5,758,203 shares of the pipeline company’s stock worth $271,845,000 after purchasing an additional 3,664,862 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

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.