Wellington Management Group LLP Sells 18,519,451 Shares of TC Energy Co. (NYSE:TRP)

Wellington Management Group LLP lowered its holdings in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 99.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 79,595 shares of the pipeline company's stock after selling 18,519,451 shares during the period. Wellington Management Group LLP's holdings in TC Energy were worth $2,749,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Money Concepts Capital Corp boosted its stake in shares of TC Energy by 149.1% during the 4th quarter. Money Concepts Capital Corp now owns 949 shares of the pipeline company's stock worth $38,000 after purchasing an additional 568 shares during the last quarter. Chilton Capital Management LLC acquired a new position in TC Energy in the 1st quarter valued at $41,000. Hexagon Capital Partners LLC lifted its stake in shares of TC Energy by 158.3% during the 3rd quarter. Hexagon Capital Partners LLC now owns 1,085 shares of the pipeline company's stock worth $37,000 after purchasing an additional 665 shares during the period. ICA Group Wealth Management LLC acquired a new stake in shares of TC Energy during the fourth quarter worth $47,000. Finally, Peoples Bank KS purchased a new stake in shares of TC Energy in the third quarter valued at $45,000. Hedge funds and other institutional investors own 83.13% of the company's stock.

Analyst Ratings Changes

TRP has been the topic of a number of research analyst reports. The Goldman Sachs Group raised their price target on TC Energy from $29.00 to $32.00 and gave the stock a "sell" rating in a research note on Friday, January 26th. Stifel Nicolaus began coverage on shares of TC Energy in a report on Thursday, January 18th. They issued a "buy" rating for the company. TheStreet upgraded shares of TC Energy from a "c+" rating to a "b-" rating in a report on Wednesday, March 20th. Barclays boosted their price objective on shares of TC Energy from $53.00 to $55.00 and gave the company an "equal weight" rating in a research note on Monday, January 29th. Finally, Jefferies Financial Group assumed coverage on TC Energy in a report on Tuesday, February 27th. They issued a "hold" rating on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, TC Energy presently has a consensus rating of "Hold" and a consensus price target of $48.83.

TC Energy Stock Up 1.4 %

NYSE:TRP traded up $0.56 during trading hours on Thursday, hitting $40.20. The stock had a trading volume of 1,703,357 shares, compared to its average volume of 2,591,540. The business has a 50 day simple moving average of $39.42 and a two-hundred day simple moving average of $37.79. TC Energy Co. has a 1-year low of $32.51 and a 1-year high of $42.76. 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 cap of $40.20 billion, a PE ratio of 19.80, a price-to-earnings-growth ratio of 3.38 and a beta of 0.75.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its quarterly earnings results on Friday, February 16th. The pipeline company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.79 by $0.20. TC Energy had a return on equity of 18.60% and a net margin of 18.25%. The business had revenue of $3.11 billion for the quarter, compared to analysts' expectations of $2.93 billion. Analysts predict 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. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.714 per share. This represents a $2.86 dividend on an annualized basis and a yield of 7.10%. This is an increase from TC Energy's previous quarterly dividend of $0.67. The ex-dividend date is Wednesday, March 27th. TC Energy's dividend payout ratio is 138.42%.

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.