Hsbc Holdings PLC Reduces Holdings in TC Energy Corporation $TRP

Hsbc Holdings PLC reduced its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 75.3% in the 4th quarter, HoldingsChannel reports. The firm 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in TC Energy by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 47,801,695 shares of the pipeline company’s stock worth $2,632,200,000 after buying an additional 980,221 shares in the last quarter. Capital Research Global Investors lifted its position in shares of TC Energy by 2.5% in the third quarter. Capital Research Global Investors now owns 41,977,582 shares of the pipeline company’s stock valued at $2,282,469,000 after acquiring an additional 1,041,864 shares in the last quarter. FIL Ltd lifted its position in shares of TC Energy by 3.9% in the fourth quarter. FIL Ltd now owns 28,305,789 shares of the pipeline company’s stock valued at $1,558,669,000 after acquiring an additional 1,052,166 shares in the last quarter. TD Asset Management Inc boosted its stake in shares of TC Energy by 6.3% during the fourth quarter. TD Asset Management Inc now owns 20,868,772 shares of the pipeline company’s stock valued at $1,150,656,000 after acquiring an additional 1,244,525 shares during the last quarter. Finally, GQG Partners LLC boosted its stake in shares of TC Energy by 586.5% during the fourth quarter. GQG Partners LLC now owns 16,154,469 shares of the pipeline company’s stock valued at $890,711,000 after acquiring an additional 13,801,371 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on TRP shares. The Goldman Sachs Group upgraded TC Energy from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $53.00 to $62.00 in a research report on Monday, April 20th. Royal Bank Of Canada raised their price target on shares of TC Energy from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Weiss Ratings downgraded shares of TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 4th. Scotiabank reissued an “outperform” rating on shares of TC Energy in a research report on Monday, May 4th. Finally, Barclays reissued an “overweight” rating on shares of TC Energy in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $78.50.

TC Energy Trading Down 0.8%

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

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

TC Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be issued a dividend of $0.8775 per share. 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 presently 109.57%.

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.