Wellington Management Group LLP Buys 7,871 Shares of TC Energy Corporation $TRP

Key Points

• Wellington Management Group LLP increased its stake in TC Energy Corporation by 13.8%, owning 64,767 shares valued at approximately $3.06 million as of its latest SEC filing.
• TC Energy's recent dividend declaration of $0.6148 represents a growth from the previous quarter, offering a dividend yield of 4.7%.
• The stock has received an average rating of "Moderate Buy" from analysts, with a consensus target price of $62.00.

Wellington Management Group LLP raised its position in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 13.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 64,767 shares of the pipeline company's stock after purchasing an additional 7,871 shares during the period. Wellington Management Group LLP's holdings in TC Energy were worth $3,058,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Aviso Financial Inc. lifted its position in shares of TC Energy by 2.6% during the 1st quarter. Aviso Financial Inc. now owns 247,997 shares of the pipeline company's stock valued at $11,716,000 after acquiring an additional 6,339 shares during the period. Northern Trust Corp raised its holdings in TC Energy by 11.2% during the 1st quarter. Northern Trust Corp now owns 860,512 shares of the pipeline company's stock valued at $40,625,000 after acquiring an additional 86,438 shares during the period. Versor Investments LP bought a new position in TC Energy in the 1st quarter worth about $841,000. Northwest & Ethical Investments L.P. grew its stake in TC Energy by 35.5% during the first quarter. Northwest & Ethical Investments L.P. now owns 302,252 shares of the pipeline company's stock valued at $14,283,000 after acquiring an additional 79,261 shares in the last quarter. Finally, Partners Group Holding AG increased its holdings in shares of TC Energy by 22.9% in the first quarter. Partners Group Holding AG now owns 748,084 shares of the pipeline company's stock worth $35,767,000 after purchasing an additional 139,633 shares during the period. Institutional investors own 83.13% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on TRP shares. Barclays reaffirmed an "overweight" rating on shares of TC Energy in a report on Thursday, August 14th. US Capital Advisors cut shares of TC Energy from a "moderate buy" rating to a "hold" rating in a research report on Thursday, August 21st. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $62.00.

TC Energy Stock Up 0.5%

NYSE:TRP traded up $0.26 during mid-day trading on Wednesday, hitting $51.95. 359,167 shares of the company's stock were exchanged, compared to its average volume of 2,287,422. The company has a market cap of $54.03 billion, a PE ratio of 17.74, a P/E/G ratio of 4.98 and a beta of 0.77. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.61 and a quick ratio of 0.54. TC Energy Corporation has a one year low of $40.76 and a one year high of $52.26. The business has a fifty day moving average price of $49.08 and a 200 day moving average price of $48.51.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its earnings results on Thursday, July 31st. The pipeline company reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.03. The firm had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $2.56 billion. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.During the same period in the prior year, the firm posted $0.79 earnings per share. Equities analysts predict that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be paid a $0.6148 dividend. This is an increase from TC Energy's previous quarterly dividend of $0.61. The ex-dividend date is Monday, September 29th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.7%. TC Energy's dividend payout ratio (DPR) is 85.32%.

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.