Wellington Management Group LLP Sells 41,950 Shares of TC Energy Co. (NYSE:TRP)

Wellington Management Group LLP reduced its holdings in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 42.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 56,896 shares of the pipeline company's stock after selling 41,950 shares during the quarter. Wellington Management Group LLP's holdings in TC Energy were worth $2,650,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in TRP. SBI Securities Co. Ltd. purchased a new position in shares of TC Energy in the 4th quarter valued at approximately $31,000. Synergy Investment Management LLC purchased a new position in shares of TC Energy in the 4th quarter valued at approximately $36,000. Millstone Evans Group LLC purchased a new position in shares of TC Energy in the 4th quarter valued at approximately $41,000. First Command Advisory Services Inc. purchased a new position in shares of TC Energy in the 4th quarter valued at approximately $46,000. Finally, Rogco LP lifted its stake in shares of TC Energy by 100.0% in the 4th quarter. Rogco LP now owns 1,000 shares of the pipeline company's stock valued at $47,000 after purchasing an additional 500 shares during the period. 83.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TRP shares. Citigroup started coverage on TC Energy in a research note on Friday, April 4th. They issued a "neutral" rating for the company. Royal Bank of Canada raised their price objective on TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Wall Street Zen lowered TC Energy from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Veritas raised TC Energy from a "strong sell" rating to a "strong-buy" rating in a research report on Tuesday, February 18th. Finally, Cibc World Mkts raised TC Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $62.00.

TC Energy Stock Down 0.0%

TC Energy stock opened at $51.35 on Friday. The firm has a market cap of $53.38 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 4.34 and a beta of 0.78. The stock has a fifty day simple moving average of $49.10 and a two-hundred day simple moving average of $47.68. TC Energy Co. has a 12 month low of $37.07 and a 12 month high of $51.99. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its earnings results on Thursday, May 1st. The pipeline company reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.70 by ($0.04). The business had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $2.57 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same period in the previous year, the business posted $1.02 EPS. Equities analysts predict that TC Energy Co. will post 2.63 EPS for the current fiscal year.

TC Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a $0.6142 dividend. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date is Monday, June 30th. TC Energy's payout ratio is 77.89%.

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.

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