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

TC Energy Co. (NYSE:TRP - Get Free Report) TSE: TRP saw unusually large options trading activity on Wednesday. Stock traders bought 16,157 put options on the company. This represents 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 recent analyst reports. The Goldman Sachs Group boosted their price target on shares of TC Energy from $38.00 to $42.00 and gave the stock a "sell" rating in a research report on Monday, October 21st. Veritas upgraded shares of TC Energy to a "strong sell" rating in a report on Tuesday, October 8th. Barclays upgraded shares of TC Energy from an "equal weight" rating to an "overweight" rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. upgraded shares of TC Energy from a "neutral" rating to an "overweight" rating in a report on Monday, October 14th. Finally, StockNews.com initiated coverage on shares of TC Energy in a research report on Saturday, October 5th. They set a "hold" rating on the stock. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $48.50.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of TRP. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of TC Energy by 0.8% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,444,328 shares of the pipeline company's stock valued at $98,300,000 after acquiring an additional 18,363 shares during the last quarter. Norden Group LLC bought a new position in TC Energy in the first quarter valued at approximately $354,000. Maryland State Retirement & Pension System boosted its stake in TC Energy by 1.8% in the first quarter. Maryland State Retirement & Pension System now owns 1,302,358 shares of the pipeline company's stock valued at $52,355,000 after acquiring an additional 22,430 shares during the last quarter. Private Advisor Group LLC boosted its stake in TC Energy by 359.4% in the first quarter. Private Advisor Group LLC now owns 24,450 shares of the pipeline company's stock valued at $983,000 after acquiring an additional 19,128 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its stake in TC Energy by 39.3% in the first quarter. Sequoia Financial Advisors LLC now owns 8,193 shares of the pipeline company's stock valued at $329,000 after acquiring an additional 2,311 shares during the last quarter. Institutional investors own 83.13% of the company's stock.

TC Energy Stock Down 0.1 %

NYSE TRP traded down $0.05 during trading on Thursday, reaching $46.42. The company's stock had a trading volume of 295,350 shares, compared to its average volume of 3,146,499. The company has a current ratio of 0.76, a quick ratio of 0.68 and a debt-to-equity ratio of 1.57. The stock has a market capitalization of $48.18 billion, a PE ratio of 19.04, a PEG ratio of 3.91 and a beta of 0.81. The business has a 50-day moving average price of $46.32 and a 200-day moving average price of $41.73. TC Energy has a 1-year low of $31.04 and a 1-year high of $48.25.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.29. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.78 billion. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. During the same period in the previous year, the company posted $0.71 earnings per share. On average, research analysts forecast that TC Energy will post 3.02 earnings per share for the current fiscal year.

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.