Hsbc Holdings PLC Sells 412,008 Shares of TC Energy Corporation $TRP

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

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Rockefeller Capital Management L.P. boosted its holdings in shares of TC Energy by 4.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 13,767 shares of the pipeline company’s stock worth $757,000 after acquiring an additional 536 shares during the period. World Investment Advisors raised its stake in shares of TC Energy by 25.8% during the 4th quarter. World Investment Advisors now owns 5,444 shares of the pipeline company’s stock valued at $300,000 after purchasing an additional 1,115 shares during the period. Corient Private Wealth LLC raised its stake in shares of TC Energy by 45.6% during the 4th quarter. Corient Private Wealth LLC now owns 46,700 shares of the pipeline company’s stock valued at $2,576,000 after purchasing an additional 14,629 shares during the period. Bayban purchased a new stake in TC Energy during the 4th quarter worth about $54,000. Finally, Compound Planning Inc. lifted its holdings in TC Energy by 6.5% during the 4th 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. Institutional investors own 83.13% of the company’s stock.

TC Energy Price Performance

TC Energy stock opened at $68.97 on Thursday. TC Energy Corporation has a 52 week low of $46.29 and a 52 week high of $71.47. The business has a 50-day simple moving average of $67.87 and a 200 day simple moving average of $62.85. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.67. The stock has a market cap of $71.86 billion, a price-to-earnings ratio of 29.93 and a beta of 0.66.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.02. The firm had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.20 billion. TC Energy had a return on equity of 10.74% and a net margin of 22.22%.During the same quarter last year, the firm posted $0.95 EPS. On average, research analysts forecast that TC Energy Corporation will post 2.73 earnings per share for the current fiscal year.

TC Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be paid a $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend is Tuesday, June 30th. TC Energy’s dividend payout ratio (DPR) is currently 107.39%.

Wall Street Analyst Weigh In

TRP has been the subject of a number of recent analyst reports. BMO Capital Markets reaffirmed an “outperform” rating on shares of TC Energy in a report on Monday, May 4th. National Bank Financial raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, May 4th. The Goldman Sachs Group upgraded shares of TC Energy from a “sell” rating to a “neutral” rating and raised their price objective for the company from $53.00 to $62.00 in a research report on Monday, April 20th. TD Securities reaffirmed a “hold” rating on shares of TC Energy in a research note on Monday, May 4th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of TC Energy in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $78.50.

TC Energy 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.