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

Key Points

• TC Energy saw a **1,446% increase** in put options trading activity, with **16,157 put options** purchased on a single day, indicating a bearish sentiment among investors.
• The company has recently increased its quarterly dividend to **$0.6148**, providing a **dividend yield of 4.7%**, reflecting its commitment to return capital to shareholders.
• Institutional investors hold **83.13%** of TC Energy's stock, with significant increases in holdings by companies like **Vanguard Group** and **Goldman Sachs**, suggesting strong confidence in the company's performance.

TC Energy Corporation (NYSE:TRP - Get Free Report) TSE: TRP was the recipient of unusually large options trading on Wednesday. Stock traders bought 16,157 put options on the stock. Thisisanincreaseof1,446% compared to the average daily volume of 1,045 put options.

Analyst Ratings Changes

Several research analysts recently commented on TRP shares. Cibc World Mkts raised TC Energy from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 2nd. US Capital Advisors cut TC Energy from a "moderate buy" rating to a "hold" rating in a research note on Thursday, August 21st. CIBC raised TC Energy from a "neutral" rating to a "sector outperform" rating in a research note on Friday, May 2nd. Finally, Barclays reissued an "overweight" rating on shares of TC Energy in a research note on Thursday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $62.00.

TC Energy Stock Up 0.3%

Shares of NYSE:TRP traded up $0.15 on Tuesday, hitting $50.92. 1,272,795 shares of the company's stock were exchanged, compared to its average volume of 1,495,500. The firm's 50-day moving average is $48.65 and its 200 day moving average is $48.34. The company has a market capitalization of $52.96 billion, a PE ratio of 17.38, a P/E/G ratio of 4.86 and a beta of 0.75. TC Energy has a 1-year low of $40.76 and a 1-year high of $52.10. 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 - Get Free Report) TSE: TRP last released its quarterly earnings data on Thursday, July 31st. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.03. The business had revenue of $1.82 billion during the quarter, compared to analysts' expectations of $2.56 billion. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.During the same period in the prior year, the firm posted $0.79 EPS. Sell-side analysts predict 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. Stockholders of record on Monday, September 29th will be given a dividend of $0.6148 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $2.46 annualized dividend and a dividend yield of 4.8%. This is an increase from TC Energy's previous quarterly dividend of $0.61. TC Energy's payout ratio is currently 85.32%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TRP. Mariner LLC boosted its position in shares of TC Energy by 12.4% during the 4th quarter. Mariner LLC now owns 39,580 shares of the pipeline company's stock worth $1,842,000 after acquiring an additional 4,375 shares in the last quarter. Guggenheim Capital LLC lifted its holdings in shares of TC Energy by 9.7% in the 4th quarter. Guggenheim Capital LLC now owns 14,970 shares of the pipeline company's stock valued at $697,000 after purchasing an additional 1,323 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of TC Energy in the 4th quarter valued at about $614,000. First Trust Advisors LP lifted its holdings in shares of TC Energy by 685.3% in the 4th quarter. First Trust Advisors LP now owns 1,061,697 shares of the pipeline company's stock valued at $49,411,000 after purchasing an additional 926,497 shares during the last quarter. Finally, Natixis lifted its holdings in shares of TC Energy by 54.6% in the 4th quarter. Natixis now owns 34,468 shares of the pipeline company's stock valued at $1,604,000 after purchasing an additional 12,174 shares during the last quarter. 83.13% of the stock is 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.