TC Energy Corporation $TRP Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC reduced its stake in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 79.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,513 shares of the pipeline company's stock after selling 137,505 shares during the period. Hsbc Holdings PLC's holdings in TC Energy were worth $2,442,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TRP. Groupe la Francaise increased its stake in TC Energy by 2.1% during the 1st quarter. Groupe la Francaise now owns 7,352 shares of the pipeline company's stock worth $459,000 after buying an additional 154 shares during the period. Wealthstar Advisors LLC boosted its holdings in TC Energy by 1.5% in the first quarter. Wealthstar Advisors LLC now owns 11,465 shares of the pipeline company's stock worth $718,000 after purchasing an additional 165 shares during the period. Nations Financial Group Inc. IA ADV boosted its holdings in TC Energy by 5.7% in the first quarter. Nations Financial Group Inc. IA ADV now owns 3,911 shares of the pipeline company's stock worth $245,000 after purchasing an additional 210 shares during the period. Arax Advisory Partners increased its stake in TC Energy by 7.9% during the fourth quarter. Arax Advisory Partners now owns 3,029 shares of the pipeline company's stock valued at $167,000 after purchasing an additional 221 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in TC Energy by 5.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 4,223 shares of the pipeline company's stock valued at $232,000 after purchasing an additional 232 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company's stock.

TC Energy Stock Performance

NYSE:TRP opened at $60.82 on Friday. The company has a 50-day moving average of $65.25 and a 200-day moving average of $65.39. The firm has a market cap of $60.82 billion, a price-to-earnings ratio of 25.24 and a beta of 0.66. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.64. TC Energy Corporation has a twelve month low of $49.27 and a twelve month high of $71.47.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.07. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.76 billion. TC Energy had a net margin of 22.91% and a return on equity of 11.10%. During the same quarter in the previous year, the business posted $0.82 earnings per share. Analysts forecast that TC Energy Corporation will post 2.78 earnings per share for the current fiscal year.

TC Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, September 29th will be issued a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend is Tuesday, September 29th. TC Energy's dividend payout ratio is currently 104.98%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of TC Energy in a report on Tuesday, May 26th. Weiss Ratings reiterated a "buy (b)" rating on shares of TC Energy in a research note on Friday, July 31st. Barclays reissued an "overweight" rating on shares of TC Energy in a report on Thursday, July 16th. Jefferies Financial Group raised TC Energy from a "hold" rating to a "buy" rating in a report on Tuesday, September 1st. Finally, Morgan Stanley cut TC Energy from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, TC Energy has an average rating of "Moderate Buy" and a consensus target price of $89.00.

TC Energy Profile

TC Energy Corporation is an energy infrastructure company that develops and operates natural gas pipeline, storage and power-generation assets. Its natural gas pipeline network connects major supply basins with utilities, power generators, industrial customers and export markets, while its storage facilities help support the reliability and flexibility of energy systems.

The company serves customers across Canada, the United States and Mexico. Its operations include regulated and contracted natural gas transportation, natural gas storage, and nuclear and other power-generation activities.

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