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

TC Energy Co. (NYSE:TRP) (TSE:TRP) was the target of some unusual options trading activity on Wednesday. Traders acquired 16,157 put options on the stock. This is an increase of approximately 1,446% compared to the typical volume of 1,045 put options.

Institutional Investors Weigh In On TC Energy

A number of large investors have recently modified their holdings of the company. Metis Global Partners LLC raised its position in shares of TC Energy by 2.8% during the 4th quarter. Metis Global Partners LLC now owns 98,123 shares of the pipeline company’s stock worth $4,573,000 after acquiring an additional 2,653 shares in the last quarter. First Command Advisory Services Inc. acquired a new position in TC Energy in the fourth quarter valued at $46,000. Checchi Capital Advisers LLC increased its position in shares of TC Energy by 15.8% during the fourth quarter. Checchi Capital Advisers LLC now owns 5,137 shares of the pipeline company’s stock worth $239,000 after purchasing an additional 699 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of TC Energy by 8.3% in the 4th quarter. Bank of New York Mellon Corp now owns 905,014 shares of the pipeline company’s stock valued at $42,110,000 after purchasing an additional 69,419 shares during the last quarter. Finally, IFP Advisors Inc lifted its holdings in shares of TC Energy by 7.0% in the 4th quarter. IFP Advisors Inc now owns 3,809 shares of the pipeline company’s stock valued at $177,000 after purchasing an additional 249 shares during the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Stock Up 0.9 %

Shares of NYSE:TRP opened at $47.09 on Thursday. The firm’s 50-day moving average is $46.88 and its two-hundred day moving average is $46.29. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. TC Energy has a 1 year low of $31.83 and a 1 year high of $50.37. The firm has a market capitalization of $48.93 billion, a PE ratio of 13.05, a price-to-earnings-growth ratio of 4.31 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. Analysts predict that TC Energy will post 2.95 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday. StockNews.com started coverage on TC Energy in a report on Wednesday, December 4th. They set a “hold” rating for the company. JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. Finally, BMO Capital Markets increased their target price on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $56.00.

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.