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

TC Energy Co. (NYSE:TRP) (TSE:TRP) was the recipient of some unusual options trading activity on Wednesday. Stock investors bought 16,157 put options on the company. This is an increase of 1,446% compared to the typical daily volume of 1,045 put options.

Wall Street Analyst Weigh In

TRP has been the topic of a number of research reports. StockNews.com initiated coverage on shares of TC Energy in a research note on Saturday, October 5th. They issued a “hold” rating on the stock. Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. Veritas upgraded shares of TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. Finally, UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $48.50.

TC Energy Trading Up 0.4 %

Shares of TRP stock opened at $46.47 on Thursday. The firm has a market cap of $48.22 billion, a P/E ratio of 19.04, a PEG ratio of 3.91 and a beta of 0.81. TC Energy has a 1-year low of $31.04 and a 1-year high of $48.25. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.68. The firm’s 50-day simple moving average is $46.32 and its 200-day simple moving average is $41.73.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.29. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same period in the prior year, the firm posted $0.71 EPS. As a group, equities analysts forecast that TC Energy will post 3.02 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Harvest Portfolios Group Inc. raised its holdings in TC Energy by 107.7% in the third quarter. Harvest Portfolios Group Inc. now owns 226,007 shares of the pipeline company’s stock valued at $10,743,000 after buying an additional 117,176 shares during the period. FSM Wealth Advisors LLC purchased a new position in TC Energy in the third quarter valued at approximately $222,000. Van ECK Associates Corp raised its holdings in TC Energy by 12.9% in the third quarter. Van ECK Associates Corp now owns 338,248 shares of the pipeline company’s stock valued at $15,880,000 after buying an additional 38,729 shares during the period. Janney Montgomery Scott LLC raised its holdings in TC Energy by 1.1% in the third quarter. Janney Montgomery Scott LLC now owns 77,906 shares of the pipeline company’s stock valued at $3,704,000 after buying an additional 840 shares during the period. Finally, Farther Finance Advisors LLC raised its holdings in TC Energy by 215.7% in the third quarter. Farther Finance Advisors LLC now owns 1,209 shares of the pipeline company’s stock valued at $57,000 after buying an additional 826 shares during the period. Hedge funds and other 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.