Hsbc Holdings PLC Lowers Holdings in TC Energy Corporation $TRP

Hsbc Holdings PLC lowered its position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 75.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 135,190 shares of the pipeline company’s stock after selling 412,008 shares during the quarter. Hsbc Holdings PLC’s holdings in TC Energy were worth $7,415,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Bayban purchased a new stake in shares of TC Energy in the fourth quarter valued at about $54,000. Compound Planning Inc. raised its holdings in TC Energy by 6.5% during the fourth quarter. Compound Planning Inc. now owns 17,689 shares of the pipeline company’s stock worth $973,000 after purchasing an additional 1,083 shares in the last quarter. Corient Private Wealth LLC raised its holdings in TC Energy by 45.8% during the fourth quarter. Corient Private Wealth LLC now owns 46,762 shares of the pipeline company’s stock worth $2,532,000 after purchasing an additional 14,691 shares in the last quarter. Alberta Investment Management Corp lifted its position in TC Energy by 0.3% in the fourth quarter. Alberta Investment Management Corp now owns 1,010,638 shares of the pipeline company’s stock valued at $55,652,000 after purchasing an additional 3,300 shares during the period. Finally, Mercer Global Advisors Inc. ADV lifted its position in TC Energy by 5.5% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 13,690 shares of the pipeline company’s stock valued at $753,000 after purchasing an additional 713 shares during the period. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Stock Performance

NYSE TRP opened at $69.66 on Friday. The business has a 50 day moving average price of $66.86 and a 200 day moving average price of $62.06. The company has a market capitalization of $69.66 billion, a P/E ratio of 30.23 and a beta of 0.66. TC Energy Corporation has a 1-year low of $46.29 and a 1-year high of $71.47. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.65 and a quick ratio of 0.57.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Friday, May 1st. The pipeline company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. TC Energy had a return on equity of 10.74% and a net margin of 22.22%.The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the previous year, the business earned $0.95 earnings per share. Sell-side analysts expect that TC Energy Corporation will post 2.75 EPS for the current fiscal year.

TC Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be given a $0.8775 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $3.51 annualized dividend and a dividend yield of 5.0%. TC Energy’s payout ratio is currently 109.57%.

Analysts Set New Price Targets

Several research firms have issued reports on TRP. Morgan Stanley cut TC Energy from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, June 10th. Barclays reissued an “overweight” rating on shares of TC Energy in a report on Monday, May 4th. BMO Capital Markets restated an “outperform” rating on shares of TC Energy in a research note on Monday, May 4th. Royal Bank Of Canada upped their price objective on TC Energy from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Finally, The Goldman Sachs Group upgraded TC Energy from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $53.00 to $62.00 in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $78.50.

TC Energy Company Profile

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.