TC Energy Sees Unusually High Options Volume (NYSE:TRP)

TC Energy Co. (NYSE:TRP - Get Free Report) TSE: TRP was the recipient of some unusual options trading on Wednesday. Stock investors acquired 16,157 put options on the stock. This represents an increase of 1,446% compared to the average daily volume of 1,045 put options.

Hedge Funds Weigh In On TC Energy

Several hedge funds have recently bought and sold shares of the business. EdgeRock Capital LLC purchased a new stake in shares of TC Energy during the 2nd quarter worth $25,000. Whittier Trust Co. of Nevada Inc. grew its holdings 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 worth $28,000 after acquiring an additional 429 shares during the period. Fortitude Family Office LLC acquired a new stake in TC Energy during the third quarter worth about $28,000. Blue Trust Inc. boosted 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 worth $30,000 after purchasing an additional 267 shares in the last quarter. Finally, Mather Group LLC. purchased a new position in TC Energy during the second quarter worth approximately $33,000. Institutional investors own 83.13% of the company's stock.

TC Energy Trading Up 0.1 %

Shares of NYSE TRP traded up $0.05 during trading hours on Thursday, hitting $46.52. 1,512,103 shares of the company traded hands, compared to its average volume of 3,151,776. The stock has a market capitalization of $48.28 billion, a price-to-earnings ratio of 19.06, a price-to-earnings-growth ratio of 3.91 and a beta of 0.81. 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 company's 50 day moving average price is $46.36 and its 200 day moving average price is $41.77. TC Energy has a 12 month low of $31.04 and a 12 month high of $48.25.

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

Analyst Upgrades and Downgrades

Several research firms recently commented on TRP. Veritas upgraded TC Energy to a "strong sell" rating in a report on Tuesday, October 8th. StockNews.com began coverage on TC Energy in a research report on Saturday, October 5th. They issued a "hold" rating on the stock. Morgan Stanley raised TC Energy from an "underweight" rating to an "overweight" rating in a research report on Friday, October 25th. JPMorgan Chase & Co. raised TC Energy from a "neutral" rating to an "overweight" rating in a research report on Monday, October 14th. Finally, The Goldman Sachs Group boosted their price target on TC Energy from $38.00 to $42.00 and gave the stock a "sell" rating in a report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $48.50.

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.