Investors 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 on Wednesday. Investors acquired 16,157 put options on the stock. This is an increase of 1,446% compared to the typical volume of 1,045 put options.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on TRP shares. Veritas raised TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. StockNews.com assumed coverage on TC Energy in a report on Saturday, October 5th. They issued a “hold” rating for the company. Barclays raised TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th. Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, TC Energy presently has a consensus rating of “Hold” and an average target price of $48.50.

TC Energy Trading Up 0.1 %

Shares of TRP stock opened at $46.52 on Friday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.68 and a current ratio of 0.76. TC Energy has a 52-week low of $31.04 and a 52-week high of $48.25. The company has a market capitalization of $48.28 billion, a PE ratio of 19.06, a price-to-earnings-growth ratio of 3.85 and a beta of 0.81. The business’s fifty day moving average is $46.36 and its 200 day moving average is $41.77.

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

Institutional Investors Weigh In On TC Energy

A number of institutional investors and hedge funds have recently made changes to their positions in TRP. EdgeRock Capital LLC purchased a new stake in shares of TC Energy in the second quarter worth $25,000. Whittier Trust Co. of Nevada Inc. raised its position in TC Energy by 138.8% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 429 shares in the last quarter. Fortitude Family Office LLC purchased a new stake in TC Energy during the third quarter valued at about $28,000. Blue Trust Inc. raised its position in TC Energy by 72.0% during the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 267 shares in the last quarter. Finally, Mather Group LLC. purchased a new stake in TC Energy during the second quarter valued at about $33,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

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.