Investors Purchase High Volume of Put Options on TC Energy (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 target of unusually large options trading activity on Wednesday. Traders acquired 16,157 put options on the company. Thisisanincreaseof1,446% compared to the average daily volume of 1,045 put options.

TC Energy Trading Up 1.2%

Shares of NYSE TRP opened at $51.8180 on Thursday. TC Energy has a twelve month low of $40.00 and a twelve month high of $52.10. The stock has a market cap of $53.89 billion, a price-to-earnings ratio of 17.69, a P/E/G ratio of 4.90 and a beta of 0.75. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.54. The company's fifty day moving average is $48.50 and its 200-day moving average is $48.21.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings data on Thursday, July 31st. The pipeline company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.56 by $0.03. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $2.56 billion. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.During the same quarter last year, the business posted $0.79 EPS. Equities research 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. Investors of record on Monday, September 29th will be given a $0.6148 dividend. The ex-dividend date is Monday, September 29th. This represents a $2.46 annualized dividend and a dividend yield of 4.7%. This is a boost from TC Energy's previous quarterly dividend of $0.61. TC Energy's payout ratio is presently 85.32%.

Institutional Trading of TC Energy

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of TC Energy by 3.4% during the second quarter. Vanguard Group Inc. now owns 45,907,306 shares of the pipeline company's stock worth $2,241,195,000 after acquiring an additional 1,509,328 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in TC Energy by 5.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 20,986,748 shares of the pipeline company's stock worth $1,025,220,000 after purchasing an additional 1,178,190 shares during the period. TD Asset Management Inc increased its holdings in TC Energy by 9.3% during the 2nd quarter. TD Asset Management Inc now owns 19,074,181 shares of the pipeline company's stock worth $929,316,000 after purchasing an additional 1,618,441 shares in the last quarter. Bank of Nova Scotia raised its stake in shares of TC Energy by 80.3% in the 1st quarter. Bank of Nova Scotia now owns 16,983,443 shares of the pipeline company's stock valued at $802,164,000 after purchasing an additional 7,562,887 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of 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 purchasing an additional 15,694,336 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TRP shares. Cibc World Mkts raised shares of TC Energy from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 2nd. Barclays restated an "overweight" rating on shares of TC Energy in a research report on Thursday, August 14th. Finally, CIBC upgraded TC Energy from a "neutral" rating to a "sector outperform" rating in a report on Friday, May 2nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $62.00.

TC Energy Company Profile

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.

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