Hsbc Holdings PLC Acquires 56,072 Shares of TC Energy Corporation $TRP

Hsbc Holdings PLC increased its holdings in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 12.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 518,964 shares of the pipeline company’s stock after purchasing an additional 56,072 shares during the quarter. Hsbc Holdings PLC’s holdings in TC Energy were worth $25,364,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. FORA Capital LLC bought a new position in TC Energy during the 1st quarter worth approximately $776,000. Fractal Investments LLC boosted its stake in shares of TC Energy by 34.4% during the second quarter. Fractal Investments LLC now owns 649,000 shares of the pipeline company’s stock valued at $31,665,000 after purchasing an additional 166,000 shares during the period. Miller Howard Investments Inc. NY boosted its stake in shares of TC Energy by 93.8% during the second quarter. Miller Howard Investments Inc. NY now owns 1,153,849 shares of the pipeline company’s stock valued at $56,296,000 after purchasing an additional 558,498 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of TC Energy in the first quarter worth $273,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of TC Energy in the first quarter worth $833,000. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on TRP shares. Cibc Captl Mkts raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Barclays reissued an “overweight” rating on shares of TC Energy in a research note on Tuesday, October 14th. Royal Bank Of Canada boosted their price target on TC Energy from $74.00 to $84.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Cibc World Mkts cut TC Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Finally, Scotiabank reissued an “outperform” rating on shares of TC Energy in a research note on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $84.00.

TC Energy Stock Performance

Shares of TRP opened at $54.21 on Tuesday. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.61 and a quick ratio of 0.54. TC Energy Corporation has a one year low of $43.51 and a one year high of $55.37. The company has a 50-day simple moving average of $52.82 and a two-hundred day simple moving average of $50.80. The firm has a market capitalization of $56.42 billion, a PE ratio of 18.50, a price-to-earnings-growth ratio of 4.82 and a beta of 0.73.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Thursday, November 6th. The pipeline company reported $0.56 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.56. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $2.63 billion. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.During the same quarter in the prior year, the business earned $1.03 EPS. On average, analysts anticipate that TC Energy Corporation will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 6.3%. This is a positive change from TC Energy’s previous quarterly dividend of $0.61. The ex-dividend date is Wednesday, December 31st. TC Energy’s dividend payout ratio is currently 103.88%.

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.