Wellington Management Group LLP Has $2.75 Million Stock Position in TC Energy Co. (NYSE:TRP)

Wellington Management Group LLP reduced its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 99.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 79,595 shares of the pipeline company’s stock after selling 18,519,451 shares during the quarter. Wellington Management Group LLP’s holdings in TC Energy were worth $2,749,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of TRP. Norges Bank acquired a new stake in shares of TC Energy during the 4th quarter worth $519,894,000. National Bank of Canada FI lifted its position in shares of TC Energy by 68.2% during the 3rd quarter. National Bank of Canada FI now owns 19,993,928 shares of the pipeline company’s stock worth $668,801,000 after buying an additional 8,103,785 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of TC Energy by 70.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 16,540,018 shares of the pipeline company’s stock worth $569,058,000 after buying an additional 6,840,000 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in shares of TC Energy by 18.0% during the 3rd quarter. Canada Pension Plan Investment Board now owns 24,574,983 shares of the pipeline company’s stock worth $849,037,000 after buying an additional 3,740,495 shares during the last quarter. Finally, Blackstone Inc. lifted its position in shares of TC Energy by 540.4% during the 3rd quarter. Blackstone Inc. now owns 3,117,031 shares of the pipeline company’s stock worth $107,257,000 after buying an additional 2,630,324 shares during the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Price Performance

TC Energy stock opened at $39.65 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.88 and a debt-to-equity ratio of 1.65. The company has a market capitalization of $39.65 billion, a PE ratio of 19.53, a P/E/G ratio of 3.39 and a beta of 0.75. TC Energy Co. has a 12 month low of $32.51 and a 12 month high of $42.76. The stock has a 50-day moving average price of $39.40 and a two-hundred day moving average price of $37.77.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Friday, February 16th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.20. TC Energy had a return on equity of 18.60% and a net margin of 18.25%. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.93 billion. Analysts expect that TC Energy Co. will post 2.99 EPS for the current year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be given a dividend of $0.714 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 7.20%. This is an increase from TC Energy’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Wednesday, March 27th. TC Energy’s dividend payout ratio (DPR) is 139.90%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TRP shares. TheStreet upgraded TC Energy from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. Barclays upped their price objective on TC Energy from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. Stifel Nicolaus started coverage on TC Energy in a research report on Thursday, January 18th. They set a “buy” rating for the company. Jefferies Financial Group started coverage on TC Energy in a research report on Tuesday, February 27th. They set a “hold” rating for the company. Finally, The Goldman Sachs Group increased their target price on TC Energy from $29.00 to $32.00 and gave the company a “sell” rating in a research report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, TC Energy has an average rating of “Hold” and an average price target of $48.83.

TC Energy Company 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.