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

Core Viewpoint - TC Energy Corporation has experienced significant changes in options trading and institutional investments, alongside a recent earnings report and dividend increase, indicating a dynamic market environment for the company [2][3][4]. Group 1: Options Trading and Institutional Investments - On Wednesday, TC Energy saw unusual options trading with 16,157 put options purchased, marking an increase of approximately 1,446% compared to the average volume of 1,045 put options [2]. - Goldman Sachs Group Inc. raised its holdings in TC Energy by 2,565.1% in Q1, now owning 16,306,187 shares valued at $769.82 million after acquiring an additional 15,694,336 shares [2]. - Norges Bank acquired a new position in TC Energy valued at $493.43 million in Q2 [2]. - American Century Companies Inc. boosted its position by 514.5% in Q3, now holding 6,491,799 shares worth $352.98 million after acquiring an additional 5,435,310 shares [2]. - Canada Pension Plan Investment Board increased its holdings by 34.2% in Q1, now owning 19,808,558 shares valued at $935.63 million [2]. - Public Sector Pension Investment Board raised its position by 2,573.3% in Q2, now owning 2,680,572 shares worth $130.60 million [2]. - Institutional investors currently own 83.13% of TC Energy's stock [2]. Group 2: Financial Performance - TC Energy reported earnings of $0.56 per share for the quarter, meeting consensus estimates, with revenue of $1.86 billion, below analysts' expectations of $2.63 billion [3]. - The company had a net margin of 23.86% and a return on equity of 10.61% [3]. - The previous year's earnings per share for the same quarter were $1.03 [3]. Group 3: Dividend Information - TC Energy declared a quarterly dividend of $0.85, an increase from the previous $0.61, representing an annualized dividend of $3.40 and a dividend yield of 6.1% [4]. - The payout ratio is currently at 106.47% [4]. Group 4: Analyst Ratings and Forecasts - Wall Street analysts have varied opinions on TC Energy, with ratings ranging from "sell" to "strong-buy" [5]. - The stock has a consensus rating of "Moderate Buy" and a price target of $84.00 according to MarketBeat.com [5].