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 traders bought 16,157 put options on the stock. This represents an increase of approximately 1,446% compared to the average daily volume of 1,045 put options.

Institutional Trading of TC Energy

Several hedge funds and other institutional investors have recently made changes to their positions in TRP. Addenda Capital Inc. grew its position in TC Energy by 4.4% during the fourth quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company’s stock worth $48,135,000 after buying an additional 43,639 shares during the period. Captrust Financial Advisors raised 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 worth $871,000 after purchasing an additional 242 shares during the last quarter. Ritholtz Wealth Management boosted its position in TC Energy by 44.8% during the fourth quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company’s stock worth $1,115,000 after purchasing an additional 7,412 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in TC Energy in the third quarter valued at $3,771,000. Finally, Harvest Portfolios Group Inc. grew 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 purchasing an additional 117,176 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Stock Performance

Shares of TRP stock opened at $47.09 on Thursday. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. TC Energy has a 12-month low of $31.83 and a 12-month high of $50.37. The company has a market cap of $48.93 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 4.31 and a beta of 0.81. The stock has a 50 day simple moving average of $46.88 and a 200-day simple moving average of $46.29.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. The company had revenue of $2.99 billion during 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, equities analysts forecast that TC Energy will post 2.95 EPS for the current year.

Analyst Ratings Changes

TRP has been the topic of several research reports. TD Securities started coverage on shares of TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. StockNews.com started coverage on TC Energy in a report on Wednesday, December 4th. They set a “hold” rating on the stock. Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. Finally, The Goldman Sachs Group upped their price target on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.