TC Energy Co. (NYSE:TRP) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP cut its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 42.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,896 shares of the pipeline company’s stock after selling 41,950 shares during the period. Wellington Management Group LLP’s holdings in TC Energy were worth $2,650,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in TC Energy during the 4th quarter worth $31,000. Versant Capital Management Inc acquired a new stake in TC Energy in the fourth quarter worth about $33,000. Synergy Investment Management LLC bought a new position in TC Energy in the 4th quarter valued at about $36,000. Millstone Evans Group LLC bought a new position in TC Energy in the 4th quarter valued at about $41,000. Finally, First Command Advisory Services Inc. acquired a new position in TC Energy during the 4th quarter valued at about $46,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Stock Performance

Shares of NYSE TRP opened at $47.42 on Friday. TC Energy Co. has a 52-week low of $34.95 and a 52-week high of $50.37. The stock has a market capitalization of $49.28 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 4.34 and a beta of 0.74. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56. The stock’s fifty day simple moving average is $46.60 and its 200 day simple moving average is $46.95.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.54. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter in the previous year, the company earned $1.35 EPS. As a group, sell-side analysts forecast that TC Energy Co. will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.85 dividend. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, March 31st. This represents a $3.40 dividend on an annualized basis and a yield of 7.17%. TC Energy’s dividend payout ratio (DPR) is currently 72.53%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. StockNews.com cut shares of TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. Royal Bank of Canada upped their price objective on TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Citigroup started coverage on TC Energy in a report on Friday, April 4th. They set a “neutral” rating on the stock. Finally, US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, TC Energy presently has a consensus rating of “Moderate Buy” and a consensus target price 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.