Hsbc Holdings PLC Sells 98,725 Shares of TC Energy Co. (NYSE:TRP)

Hsbc Holdings PLC cut its holdings in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 18.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 433,242 shares of the pipeline company's stock after selling 98,725 shares during the period. Hsbc Holdings PLC's holdings in TC Energy were worth $20,171,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new position in TC Energy in the 4th quarter valued at $428,759,000. Mufg Securities Canada LTD. increased its stake in shares of TC Energy by 571.7% in the fourth quarter. Mufg Securities Canada LTD. now owns 6,184,832 shares of the pipeline company's stock worth $288,043,000 after purchasing an additional 5,264,079 shares during the period. FIL Ltd lifted its position in shares of TC Energy by 10.3% during the 4th quarter. FIL Ltd now owns 28,443,403 shares of the pipeline company's stock worth $1,325,558,000 after purchasing an additional 2,644,627 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in TC Energy in the 4th quarter valued at approximately $102,405,000. Finally, Kayne Anderson Capital Advisors LP increased its position in TC Energy by 51.4% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 4,842,255 shares of the pipeline company's stock worth $225,310,000 after buying an additional 1,644,115 shares during the period. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Price Performance

NYSE TRP traded up $0.12 during trading hours on Wednesday, reaching $50.34. 3,339,280 shares of the company's stock were exchanged, compared to its average volume of 2,580,522. The firm has a fifty day moving average of $47.22 and a 200-day moving average of $47.23. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56. TC Energy Co. has a one year low of $35.38 and a one year high of $50.50. The stock has a market cap of $52.33 billion, a PE ratio of 15.54, a price-to-earnings-growth ratio of 4.34 and a beta of 0.74.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, beating analysts' consensus estimates of $0.51 by $0.54. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.42 billion. During the same quarter last year, the business posted $1.35 earnings per share. On average, equities research analysts predict that TC Energy Co. will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.40 dividend on an annualized basis and a yield of 6.75%. This is a boost from TC Energy's previous quarterly dividend of $0.82. TC Energy's dividend payout ratio (DPR) is 72.84%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. US Capital Advisors upgraded shares of TC Energy from a "hold" rating to a "moderate buy" rating in a research note on Monday, February 3rd. Royal Bank of Canada upped their price objective on shares of TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Veritas upgraded TC Energy from a "strong sell" rating to a "strong-buy" rating in a research note on Tuesday, February 18th. TD Securities assumed coverage on TC Energy in a report on Wednesday, January 15th. They set a "buy" rating on the stock. Finally, Citigroup assumed coverage on TC Energy in a research note on Friday, April 4th. They issued a "neutral" rating for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, TC Energy has a consensus rating of "Moderate Buy" and a consensus price target 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.