Hsbc Holdings PLC Has $10.91 Million Holdings in TC Energy Corporation $TRP

Hsbc Holdings PLC lifted its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 28.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 174,018 shares of the pipeline company’s stock after acquiring an additional 38,828 shares during the period. Hsbc Holdings PLC’s holdings in TC Energy were worth $10,910,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Massachusetts Financial Services Co. MA boosted its position in shares of TC Energy by 80.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 526,181 shares of the pipeline company’s stock worth $28,945,000 after buying an additional 234,594 shares during the period. Generali Asset Management SPA SGR lifted its stake in TC Energy by 261.0% in the 4th quarter. Generali Asset Management SPA SGR now owns 74,906 shares of the pipeline company’s stock valued at $4,121,000 after acquiring an additional 54,154 shares in the last quarter. Vanguard Group Inc. lifted its stake in TC Energy by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 47,801,695 shares of the pipeline company’s stock valued at $2,632,200,000 after acquiring an additional 980,221 shares in the last quarter. Miller Howard Investments Inc. NY boosted its position in TC Energy by 14.0% during the 1st quarter. Miller Howard Investments Inc. NY now owns 1,294,518 shares of the pipeline company’s stock worth $81,037,000 after acquiring an additional 158,686 shares during the last quarter. Finally, TD Waterhouse Canada Inc. grew its stake in shares of TC Energy by 1.2% during the 4th quarter. TD Waterhouse Canada Inc. now owns 4,806,132 shares of the pipeline company’s stock worth $263,516,000 after acquiring an additional 58,624 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TRP shares. Royal Bank Of Canada boosted their price objective on shares of TC Energy from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. TD Securities reiterated a “hold” rating on shares of TC Energy in a research note on Thursday, July 16th. Scotiabank reissued an “outperform” rating on shares of TC Energy in a research report on Tuesday. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of TC Energy in a research note on Tuesday, May 26th. Finally, BMO Capital Markets restated an “outperform” rating on shares of TC Energy in a report on Monday, May 4th. One 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’s stock. According to MarketBeat, TC Energy presently has a consensus rating of “Moderate Buy” and an average target price of $78.50.

TC Energy Trading Up 1.7%

NYSE TRP opened at $69.83 on Thursday. TC Energy Corporation has a 12 month low of $46.61 and a 12 month high of $71.47. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 1.67. The stock has a 50 day moving average of $68.53 and a 200-day moving average of $63.79. The company has a market cap of $72.76 billion, a PE ratio of 30.31 and a beta of 0.66.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. The business 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 company earned $0.95 earnings per share. On average, equities research analysts anticipate that TC Energy Corporation will post 2.75 EPS for the current fiscal year.

TC Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be given a $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Tuesday, June 30th. TC Energy’s dividend payout ratio (DPR) is 107.39%.

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.