Wellington Management Group LLP Sells 38,511 Shares of TC Energy Co. (NYSE:TRP)

Wellington Management Group LLP reduced its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 48.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 41,084 shares of the pipeline company’s stock after selling 38,511 shares during the period. Wellington Management Group LLP’s holdings in TC Energy were worth $1,613,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of TRP. Creekmur Asset Management LLC purchased a new stake in TC Energy in the 4th quarter valued at $27,000. Virtu Financial LLC purchased a new stake in shares of TC Energy in the fourth quarter valued at about $811,000. Sunpointe LLC bought a new position in shares of TC Energy during the fourth quarter valued at about $235,000. FIL Ltd boosted its holdings in TC Energy by 37.2% during the fourth quarter. FIL Ltd now owns 16,706,812 shares of the pipeline company’s stock worth $652,613,000 after purchasing an additional 4,528,555 shares during the last quarter. Finally, Clear Street Markets LLC bought a new stake in TC Energy in the 4th quarter worth about $454,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, TheStreet raised shares of TC Energy from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $48.83.

TC Energy Trading Down 0.9 %

NYSE:TRP opened at $37.57 on Tuesday. TC Energy Co. has a 12 month low of $32.51 and a 12 month high of $41.03. The company has a current ratio of 0.94, a quick ratio of 0.85 and a debt-to-equity ratio of 1.64. The firm’s 50 day moving average is $38.10 and its 200 day moving average is $38.76. The stock has a market capitalization of $37.57 billion, a PE ratio of 19.36, a price-to-earnings-growth ratio of 3.14 and a beta of 0.79.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Friday, May 3rd. The pipeline company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.09. The firm had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.12 billion. TC Energy had a return on equity of 17.94% and a net margin of 17.23%. Sell-side analysts expect that TC Energy Co. will post 3.01 earnings per share for the current year.

TC Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.84 dividend on an annualized basis and a yield of 7.56%. TC Energy’s dividend payout ratio is presently 143.81%.

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.