TC Energy Sees Unusually Large Options Volume (NYSE:TRP)

Key Points

• TC Energy experienced an **unprecedented increase** in options trading, with **16,157 put options bought**, marking a **1,446% rise** from the typical volume.
• The company declared a **quarterly dividend increase** to **$0.6148**, reflecting a **4.7% dividend yield** and an **85.32% payout ratio**.
• Analysts have given TC Energy an average rating of **"Moderate Buy"** with a price target of **$62.00**, amidst a mix of **ratings** ranging from Strong Buy to Sell.

TC Energy Corporation (NYSE:TRP - Get Free Report) TSE: TRP saw unusually large options trading activity on Wednesday. Traders acquired 16,157 put options on the stock. Thisrepresentsanincreaseof1,446% compared to the average volume of 1,045 put options.

Hedge Funds Weigh In On TC Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Osaic Holdings Inc. lifted its position in TC Energy by 14.9% in the second quarter. Osaic Holdings Inc. now owns 98,741 shares of the pipeline company's stock worth $4,802,000 after purchasing an additional 12,827 shares during the period. Orion Porfolio Solutions LLC lifted its stake in shares of TC Energy by 36.3% in the second quarter. Orion Porfolio Solutions LLC now owns 10,636 shares of the pipeline company's stock valued at $519,000 after buying an additional 2,830 shares during the period. Public Sector Pension Investment Board lifted its stake in TC Energy by 2,573.3% during the second quarter. Public Sector Pension Investment Board now owns 2,680,572 shares of the pipeline company's stock worth $130,600,000 after purchasing an additional 2,580,300 shares during the period. Evergreen Capital Management LLC raised its stake in shares of TC Energy by 7.8% in the second quarter. Evergreen Capital Management LLC now owns 49,268 shares of the pipeline company's stock valued at $2,404,000 after acquiring an additional 3,550 shares during the last quarter. Finally, Corient Private Wealth LLC raised its position in TC Energy by 92.2% in the 2nd quarter. Corient Private Wealth LLC now owns 57,116 shares of the pipeline company's stock worth $2,786,000 after purchasing an additional 27,392 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on TRP shares. US Capital Advisors lowered TC Energy from a "moderate buy" rating to a "hold" rating in a research report on Thursday, August 21st. Barclays reissued an "overweight" rating on shares of TC Energy in a report 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 given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, TC Energy presently has an average rating of "Moderate Buy" and a consensus target price of $62.00.

TC Energy Trading Down 0.7%

TC Energy stock traded down $0.38 during trading on Monday, reaching $51.48. 78,919 shares of the company were exchanged, compared to its average volume of 2,273,004. TC Energy has a 52-week low of $40.76 and a 52-week high of $52.39. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.61 and a quick ratio of 0.54. The company has a market capitalization of $53.54 billion, a P/E ratio of 17.57, a PEG ratio of 4.97 and a beta of 0.77. The stock's 50 day simple moving average is $49.30 and its two-hundred day simple moving average is $48.65.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its earnings results 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 firm 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 previous year, the firm posted $0.79 EPS. On average, equities research analysts expect that TC Energy will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be given a $0.6148 dividend. This represents a $2.46 annualized dividend and a yield of 4.8%. This is a boost from TC Energy's previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Monday, September 29th. TC Energy's dividend payout ratio is 85.32%.

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.