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

TC Energy Corporation (NYSE:TRP) (TSE:TRP) saw unusually large options trading activity on Wednesday. Traders acquired 16,157 put options on the company. This is an increase of approximately 1,446% compared to the average volume of 1,045 put options.

Wall Street Analyst Weigh In

TRP has been the topic of a number of recent analyst reports. Canadian Imperial Bank of Commerce raised shares of TC Energy from a “neutral” rating to a “sector outperform” rating in a research note on Thursday, April 23rd. Barclays reaffirmed an “overweight” rating on shares of TC Energy in a research note on Monday, May 4th. The Goldman Sachs Group raised TC Energy from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $53.00 to $62.00 in a research note on Monday, April 20th. National Bank Financial raised TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of TC Energy in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $78.50.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TRP. GQG Partners LLC grew its stake in TC Energy by 586.5% during the 4th quarter. GQG Partners LLC now owns 16,154,469 shares of the pipeline company’s stock worth $890,711,000 after buying an additional 13,801,371 shares during the last quarter. Norges Bank acquired a new stake in shares of TC Energy in the fourth quarter valued at approximately $583,732,000. Deutsche Bank AG increased its stake in shares of TC Energy by 63.2% in the fourth quarter. Deutsche Bank AG now owns 15,384,255 shares of the pipeline company’s stock valued at $846,288,000 after purchasing an additional 5,956,263 shares during the period. American Century Companies Inc. increased its stake in shares of TC Energy by 514.5% in the third quarter. American Century Companies Inc. now owns 6,491,799 shares of the pipeline company’s stock valued at $352,976,000 after purchasing an additional 5,435,310 shares during the period. Finally, Nicola Wealth Management LTD. increased its stake in shares of TC Energy by 793.7% in the third quarter. Nicola Wealth Management LTD. now owns 2,302,996 shares of the pipeline company’s stock valued at $125,229,000 after purchasing an additional 2,045,300 shares during the period. 83.13% of the stock is currently owned by institutional investors.

TC Energy Stock Up 1.6%

Shares of NYSE:TRP opened at $68.15 on Friday. TC Energy has a 52-week low of $46.29 and a 52-week high of $68.29. The company has a market capitalization of $71.00 billion, a price-to-earnings ratio of 29.58 and a beta of 0.67. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.67. The company has a 50 day moving average of $63.50 and a two-hundred day moving average of $58.67.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.20 billion. TC Energy had a return on equity of 10.74% and a net margin of 22.22%.During the same period in the previous year, the company earned $0.95 earnings per share. As a group, analysts forecast that TC Energy will post 2.75 earnings per share for the current fiscal year.

TC Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be paid a dividend of $0.8775 per share. This represents a $3.51 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date is Tuesday, June 30th. TC Energy’s dividend payout ratio is presently 109.57%.

TC Energy Company Profile

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.