TC Energy Target of Unusually Large Options Trading (NYSE:TRP)

TC Energy Co. (NYSE:TRP) (TSE:TRP) was the recipient of unusually large options trading on Wednesday. Investors bought 16,157 put options on the company. This represents an increase of 1,446% compared to the typical volume of 1,045 put options.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TRP. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday. Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. The Goldman Sachs Group upped their price target on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Monday, October 21st. Finally, TD Securities began coverage on TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating for the company. 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.00.

Hedge Funds Weigh In On TC Energy

A number of institutional investors have recently modified their holdings of the company. Addenda Capital Inc. grew its stake in TC Energy by 4.4% in the 4th quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company’s stock valued at $48,135,000 after buying an additional 43,639 shares during the last quarter. Captrust Financial Advisors boosted its holdings in TC Energy by 1.3% during the third quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock valued at $871,000 after acquiring an additional 242 shares during the period. Ritholtz Wealth Management grew its position in shares of TC Energy by 44.8% in the fourth quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company’s stock valued at $1,115,000 after purchasing an additional 7,412 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of TC Energy in the third quarter worth about $3,771,000. Finally, Harvest Portfolios Group Inc. lifted its position in shares of TC Energy by 107.7% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 226,007 shares of the pipeline company’s stock worth $10,743,000 after purchasing an additional 117,176 shares during the last quarter. Institutional investors own 83.13% of the company’s stock.

TC Energy Price Performance

NYSE TRP opened at $47.09 on Thursday. TC Energy has a fifty-two week low of $31.83 and a fifty-two week high of $50.37. The stock’s 50-day moving average is $46.88 and its two-hundred day moving average is $46.29. The firm has a market cap of $48.93 billion, a P/E ratio of 13.05, a price-to-earnings-growth ratio of 4.31 and a beta of 0.81. 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 (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.83 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. On average, analysts anticipate that TC Energy will post 2.95 earnings per share for the current fiscal year.

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.