Hsbc Holdings PLC Purchases Shares of 36,513 TC Energy Corporation $TRP

Hsbc Holdings PLC purchased a new position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 36,513 shares of the pipeline company’s stock, valued at approximately $2,442,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Groupe la Francaise increased its holdings in TC Energy by 2.1% during the first 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 last quarter. Wealthstar Advisors LLC increased its stake in shares of TC Energy by 1.5% during the 1st 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 last quarter. Nations Financial Group Inc. IA ADV raised its holdings in shares of TC Energy by 5.7% in the 1st quarter. Nations Financial Group Inc. IA ADV now owns 3,911 shares of the pipeline company’s stock valued at $245,000 after purchasing an additional 210 shares during the period. Arax Advisory Partners lifted its stake in TC Energy by 7.9% in the 4th 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 lifted its stake in TC Energy by 5.8% in the 4th 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. 83.13% of the stock is owned by institutional investors.

TC Energy Price Performance

TC Energy stock opened at $61.87 on Monday. The company has a market capitalization of $64.46 billion, a price-to-earnings ratio of 25.67 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 12 month low of $49.27 and a 12 month high of $71.47. The stock’s 50 day moving average is $66.33 and its 200-day moving average is $65.37.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.07. The business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.76 billion. TC Energy had a return on equity of 11.10% and a net margin of 22.91%.During the same period last year, the firm posted $0.82 EPS. Equities research analysts expect that TC Energy Corporation will post 2.78 EPS for the current year.

TC Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Tuesday, September 29th will be paid a $0.8775 dividend. The ex-dividend date is Tuesday, September 29th. This represents a $3.51 annualized dividend and a dividend yield of 5.7%. TC Energy’s dividend payout ratio is 102.49%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TRP. TD Securities reissued a “hold” rating on shares of TC Energy in a research report on Thursday, July 16th. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Thursday, August 20th. Scotiabank reissued an “outperform” rating on shares of TC Energy in a report on Tuesday, July 21st. 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 reaffirmed an “outperform” rating and set a $99.00 price target on shares of TC Energy in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $89.00.

TC Energy Company 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.