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

TC Energy Corporation (NYSE:TRP) (TSE:TRP) was the target of unusually large options trading activity on Wednesday. Investors acquired 16,157 put options on the company. This represents an increase of approximately 1,446% compared to the typical daily volume of 1,045 put options.

Institutional Investors Weigh In On TC Energy

A number of large investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC raised its holdings in TC Energy by 54.0% in the 1st quarter. AQR Capital Management LLC now owns 11,099 shares of the pipeline company’s stock worth $538,000 after purchasing an additional 3,892 shares during the period. Focus Partners Wealth increased its position in TC Energy by 46.1% in the first quarter. Focus Partners Wealth now owns 12,446 shares of the pipeline company’s stock worth $588,000 after buying an additional 3,929 shares in the last quarter. Intech Investment Management LLC raised its stake in shares of TC Energy by 200.7% in the first quarter. Intech Investment Management LLC now owns 26,878 shares of the pipeline company’s stock worth $1,269,000 after buying an additional 17,939 shares during the period. Hilltop National Bank purchased a new position in shares of TC Energy during the 2nd quarter valued at about $32,000. Finally, DAVENPORT & Co LLC grew its stake in shares of TC Energy by 3.3% during the 2nd quarter. DAVENPORT & Co LLC now owns 76,915 shares of the pipeline company’s stock valued at $3,748,000 after acquiring an additional 2,437 shares during the period. Institutional investors own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Barclays restated an “overweight” rating on shares of TC Energy in a research note on Tuesday, October 14th. Morgan Stanley reissued an “overweight” rating on shares of TC Energy in a report on Wednesday, January 28th. Weiss Ratings reissued a “buy (b-)” rating on shares of TC Energy in a research note on Monday, December 29th. Scotiabank restated an “outperform” rating on shares of TC Energy in a report on Monday, October 20th. Finally, Royal Bank Of Canada upped their price target on shares of TC Energy from $74.00 to $84.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, TC Energy has an average rating of “Moderate Buy” and an average price target of $84.00.

TC Energy Trading Down 0.3%

Shares of NYSE:TRP opened at $59.23 on Thursday. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.63 and a quick ratio of 0.56. TC Energy has a 1 year low of $43.59 and a 1 year high of $59.90. The company has a market cap of $61.65 billion, a P/E ratio of 25.53 and a beta of 0.73. The stock’s fifty day moving average price is $55.22 and its 200-day moving average price is $52.88.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Thursday, November 6th. The pipeline company reported $0.56 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.56. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $2.63 billion. TC Energy had a return on equity of 10.61% and a net margin of 23.86%.During the same quarter in the previous year, the firm earned $1.03 EPS. Sell-side analysts expect that TC Energy will post 2.63 earnings per share for the current year.

About TC Energy

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.