Wellington Management Group LLP acquired a new stake in TC Energy Corporation (NYSE:TRP – Free Report) (TSE:TRP) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 112,545 shares of the pipeline company’s stock, valued at approximately $7,450,000.
Several other institutional investors have also recently made changes to their positions in the stock. Groupe la Francaise increased its position in TC Energy by 2.1% in the 1st quarter. Groupe la Francaise now owns 7,352 shares of the pipeline company’s stock valued at $459,000 after buying an additional 154 shares in the last quarter. Wealthstar Advisors LLC increased its stake in TC Energy by 1.5% during the 1st quarter. Wealthstar Advisors LLC now owns 11,465 shares of the pipeline company’s stock valued at $718,000 after purchasing an additional 165 shares in the last quarter. Nations Financial Group Inc. IA ADV lifted its stake in shares of TC Energy by 5.7% in the first quarter. Nations Financial Group Inc. IA ADV now owns 3,911 shares of the pipeline company’s stock valued at $245,000 after buying an additional 210 shares in the last quarter. Arax Advisory Partners increased its position in shares of TC Energy by 7.9% during the fourth quarter. Arax Advisory Partners now owns 3,029 shares of the pipeline company’s stock worth $167,000 after acquiring an additional 221 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in TC Energy by 5.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 4,223 shares of the pipeline company’s stock valued at $232,000 after acquiring an additional 232 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have recently weighed in on TRP shares. Scotiabank restated an “outperform” rating on shares of TC Energy in a report on Tuesday, July 21st. Royal Bank Of Canada increased their target price on shares of TC Energy from $104.00 to $106.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of TC Energy in a research report on Tuesday, May 26th. Morgan Stanley cut shares of TC Energy from an “overweight” rating to an “equal weight” rating in a report on Wednesday, June 10th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of TC Energy in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.00.
TC Energy Price Performance
Shares of NYSE TRP opened at $63.46 on Wednesday. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.64. The stock has a fifty day simple moving average of $65.49 and a two-hundred day simple moving average of $65.42. TC Energy Corporation has a 1-year low of $49.27 and a 1-year high of $71.47. The firm has a market cap of $63.46 billion, a price-to-earnings ratio of 26.33 and a beta of 0.66.
TC Energy (NYSE:TRP – Get Free Report) (TSE:TRP) last issued its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. TC Energy had a return on equity of 11.10% and a net margin of 22.91%.The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter in the prior year, the firm earned $0.82 EPS. Analysts anticipate that TC Energy Corporation will post 2.78 earnings per share for the current year.
TC Energy Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Tuesday, September 29th will be given a dividend of $0.8775 per share. This represents a $3.51 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date is Tuesday, September 29th. TC Energy’s dividend payout ratio (DPR) is currently 104.98%.
TC Energy Company Profile
TC Energy Corporation is an energy infrastructure company that develops and operates natural gas pipeline, storage and power-generation assets. Its natural gas pipeline network connects major supply basins with utilities, power generators, industrial customers and export markets, while its storage facilities help support the reliability and flexibility of energy systems.
The company serves customers across Canada, the United States and Mexico. Its operations include regulated and contracted natural gas transportation, natural gas storage, and nuclear and other power-generation activities.
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