Traders Buy Large Volume of TC Energy Put Options (NYSE:TRP)

Key Points

• Traders have shown significant interest in TC Energy by purchasing 16,157 put options, marking a 1,446% increase from the average daily volume.
• Several analysts have downgraded TC Energy's stock, with ratings changing from "buy" to "hold" or "sell," resulting in a current consensus rating of "Moderate Buy."
• TC Energy has declared a quarterly dividend of $0.6148 per share, an increase from the previous $0.61, reflecting a dividend yield of 4.7%.

TC Energy Corporation (NYSE:TRP - Get Free Report) TSE: TRP was the recipient of unusually large options trading activity on Wednesday. Traders acquired 16,157 put options on the company. This represents an increase of approximately 1,446% compared to the typical daily volume of 1,045 put options.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TRP. US Capital Advisors downgraded shares of TC Energy from a "moderate buy" rating to a "hold" rating in a research note on Thursday, August 21st. Wall Street Zen downgraded shares of TC Energy from a "hold" rating to a "sell" rating in a research note on Friday, October 3rd. Cibc World Mkts downgraded shares of TC Energy from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 9th. Barclays restated an "overweight" rating on shares of TC Energy in a research note on Tuesday. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of TC Energy in a research note on Wednesday, October 8th. One 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 assigned a Sell rating to the company's stock. According to MarketBeat, TC Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $62.00.

TC Energy Stock Performance

Shares of NYSE:TRP opened at $51.79 on Thursday. The stock has a market capitalization of $53.87 billion, a P/E ratio of 17.67, a P/E/G ratio of 4.88 and a beta of 0.75. TC Energy has a 1-year low of $43.51 and a 1-year high of $55.37. The business has a 50-day moving average price of $52.19 and a two-hundred day moving average price of $49.86. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.54.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its earnings results 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. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same period in the previous year, the company earned $0.79 EPS. Equities analysts predict that TC Energy will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be given a dividend of $0.6148 per share. This is an increase from TC Energy's previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Monday, September 29th. This represents a $2.46 dividend on an annualized basis and a yield of 4.7%. TC Energy's payout ratio is currently 84.30%.

Institutional Investors Weigh In On TC Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Pacifica Partners Inc. raised its stake in shares of TC Energy by 14.0% during the 3rd quarter. Pacifica Partners Inc. now owns 1,625 shares of the pipeline company's stock worth $87,000 after purchasing an additional 200 shares in the last quarter. Park Avenue Securities LLC raised its stake in shares of TC Energy by 2.3% during the 2nd quarter. Park Avenue Securities LLC now owns 9,947 shares of the pipeline company's stock worth $485,000 after purchasing an additional 225 shares in the last quarter. Gold Investment Management Ltd. raised its stake in shares of TC Energy by 2.5% during the 2nd quarter. Gold Investment Management Ltd. now owns 9,656 shares of the pipeline company's stock worth $471,000 after purchasing an additional 232 shares in the last quarter. Ewing Morris & Co. Investment Partners Ltd. raised its stake in shares of TC Energy by 0.6% during the 2nd quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 37,962 shares of the pipeline company's stock worth $1,873,000 after purchasing an additional 234 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft raised its stake in TC Energy by 4.4% in the 1st quarter. Baader Bank Aktiengesellschaft now owns 6,325 shares of the pipeline company's stock valued at $289,000 after acquiring an additional 264 shares during the period. Institutional investors own 83.13% of the company's stock.

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.

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