Investors Purchase Large Volume of Put Options on TC Energy (NYSE:TRP)

TC Energy Co. (NYSE:TRPGet Free Report) (TSE:TRP) saw some unusual options trading on Wednesday. Traders purchased 16,157 put options on the stock. This represents an increase of approximately 1,446% compared to the typical daily volume of 1,045 put options.

TC Energy Price Performance

Shares of NYSE TRP opened at $37.45 on Friday. The firm has a market cap of $37.45 billion, a PE ratio of -624.08, a PEG ratio of 3.16 and a beta of 0.76. The firm has a fifty day moving average of $39.04 and a 200 day moving average of $36.90. The company has a debt-to-equity ratio of 43.25, a quick ratio of 0.75 and a current ratio of 0.86. TC Energy has a one year low of $32.51 and a one year high of $42.80.

TC Energy (NYSE:TRPGet Free Report) (TSE:TRP) last released its earnings results on Wednesday, November 8th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.04. TC Energy had a net margin of 0.10% and a return on equity of 18.19%. The business had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.76 billion. As a group, research analysts predict that TC Energy will post 3.13 EPS for the current fiscal year.

Institutional Investors Weigh In On TC Energy

A number of large investors have recently modified their holdings of the business. Financial Advocates Investment Management grew its holdings in shares of TC Energy by 5.4% during the fourth quarter. Financial Advocates Investment Management now owns 6,121 shares of the pipeline company’s stock worth $240,000 after buying an additional 316 shares in the last quarter. First Heartland Consultants Inc. grew its holdings in shares of TC Energy by 101.2% during the fourth quarter. First Heartland Consultants Inc. now owns 76,493 shares of the pipeline company’s stock worth $3,003,000 after buying an additional 38,480 shares in the last quarter. Beacon Pointe Advisors LLC boosted its position in shares of TC Energy by 30.9% during the 4th quarter. Beacon Pointe Advisors LLC now owns 24,288 shares of the pipeline company’s stock valued at $949,000 after acquiring an additional 5,733 shares during the last quarter. Thornburg Investment Management Inc. boosted its position in shares of TC Energy by 0.3% during the 4th quarter. Thornburg Investment Management Inc. now owns 2,529,347 shares of the pipeline company’s stock valued at $98,844,000 after acquiring an additional 8,137 shares during the last quarter. Finally, Foundations Investment Advisors LLC boosted its position in shares of TC Energy by 4.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 8,391 shares of the pipeline company’s stock valued at $334,000 after acquiring an additional 326 shares during the last quarter. Hedge funds and other institutional investors own 73.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group boosted their price target on TC Energy from $29.00 to $32.00 and gave the stock a “sell” rating in a research note on Friday, January 26th. Wells Fargo & Company upgraded TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, October 25th. Stifel Nicolaus started coverage on TC Energy in a research note on Thursday, January 18th. They set a “buy” rating on the stock. Wolfe Research raised TC Energy from an “underperform” rating to a “peer perform” rating in a report on Tuesday, October 17th. Finally, Barclays lifted their target price on TC Energy from $53.00 to $55.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, TC Energy currently has an average rating of “Hold” and an average price target of $48.83.

View Our Latest Report on TC Energy

About TC Energy

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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 93,700 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.

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