Wellington Management Group LLP Acquires 50,088 Shares of TC Energy Co. (NYSE:TRP)

Wellington Management Group LLP raised its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 102.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 98,846 shares of the pipeline company’s stock after acquiring an additional 50,088 shares during the quarter. Wellington Management Group LLP’s holdings in TC Energy were worth $4,704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Captrust Financial Advisors lifted its position in TC Energy by 1.3% during the third quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock valued at $871,000 after purchasing an additional 242 shares in the last quarter. Signaturefd LLC raised its stake in shares of TC Energy by 1.6% in the second quarter. Signaturefd LLC now owns 16,373 shares of the pipeline company’s stock worth $621,000 after buying an additional 261 shares during the period. Prospera Financial Services Inc lifted its position in shares of TC Energy by 4.8% during the 3rd quarter. Prospera Financial Services Inc now owns 5,754 shares of the pipeline company’s stock valued at $274,000 after buying an additional 262 shares in the last quarter. First Horizon Advisors Inc. grew its stake in shares of TC Energy by 8.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 3,505 shares of the pipeline company’s stock valued at $167,000 after acquiring an additional 264 shares during the period. Finally, Blue Trust Inc. increased its holdings in TC Energy by 72.0% in the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 267 shares in the last quarter. Institutional investors own 83.13% of the company’s stock.

TC Energy Price Performance

NYSE:TRP opened at $46.05 on Tuesday. The company has a market capitalization of $47.79 billion, a P/E ratio of 12.75, a P/E/G ratio of 3.88 and a beta of 0.82. The business’s 50-day moving average is $47.76 and its 200 day moving average is $44.33. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. TC Energy Co. has a 12 month low of $31.83 and a 12 month high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.83 billion. On average, equities research analysts forecast that TC Energy Co. will post 3 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.822 per share. The ex-dividend date is Tuesday, December 31st. This represents a $3.29 annualized dividend and a yield of 7.14%. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s dividend payout ratio (DPR) is 78.95%.

Analyst Ratings Changes

TRP has been the topic of several analyst reports. JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. StockNews.com began coverage on shares of TC Energy in a report on Wednesday, December 4th. They issued a “hold” rating for the company. Veritas upgraded TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. UBS Group upgraded TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. Finally, The Goldman Sachs Group boosted their price target on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a report on Monday, October 21st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $55.67.

About TC Energy

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.