Hsbc Holdings PLC Raises Stake in TC Energy Corporation $TRP

Hsbc Holdings PLC boosted its holdings in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 6.8% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 462,892 shares of the pipeline company’s stock after buying an additional 29,650 shares during the period. Hsbc Holdings PLC’s holdings in TC Energy were worth $21,847,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TRP. Tower Research Capital LLC TRC raised its stake in shares of TC Energy by 67.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,658 shares of the pipeline company’s stock valued at $77,000 after acquiring an additional 666 shares during the period. Syon Capital LLC acquired a new stake in TC Energy in the 4th quarter valued at $236,000. Kovitz Investment Group Partners LLC raised its position in TC Energy by 10.0% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 13,406 shares of the pipeline company’s stock valued at $624,000 after purchasing an additional 1,224 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of TC Energy by 10.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 2,952,435 shares of the pipeline company’s stock worth $137,758,000 after purchasing an additional 285,783 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of TC Energy by 73.1% during the fourth quarter. Northern Trust Corp now owns 774,074 shares of the pipeline company’s stock worth $36,018,000 after purchasing an additional 326,866 shares in the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Stock Performance

Shares of TRP opened at $51.1540 on Friday. TC Energy Corporation has a 52-week low of $40.76 and a 52-week high of $52.10. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.54. The firm has a market cap of $53.20 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 4.91 and a beta of 0.75. The business’s 50 day moving average is $48.56 and its two-hundred day moving average is $48.29.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, July 31st. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $2.56 billion. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. During the same quarter in the previous year, the firm earned $0.79 earnings per share. Analysts forecast that TC Energy Corporation will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be given a $0.6148 dividend. This represents a $2.46 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Monday, September 29th. This is an increase from TC Energy’s previous quarterly dividend of $0.61. TC Energy’s payout ratio is presently 85.32%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on TRP shares. CIBC upgraded TC Energy from a “neutral” rating to a “sector outperform” rating in a report on Friday, May 2nd. Barclays reaffirmed an “overweight” rating on shares of TC Energy in a research report on Thursday, August 14th. US Capital Advisors cut shares of TC Energy from a “moderate buy” rating to a “hold” rating in a research report on Thursday. Finally, Cibc World Mkts upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 2nd. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $62.00.

TC Energy Profile

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.