Brown Brothers Harriman & Co. Takes $530,000 Position in TC Energy Co. (NYSE:TRP)

Brown Brothers Harriman & Co. acquired a new stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 11,156 shares of the pipeline company’s stock, valued at approximately $530,000.

Several other large investors also recently bought and sold shares of the business. Canada Pension Plan Investment Board boosted its holdings in shares of TC Energy by 107.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock valued at $737,609,000 after acquiring an additional 10,065,000 shares during the last quarter. Legal & General Group Plc lifted its position in TC Energy by 4.1% during the second quarter. Legal & General Group Plc now owns 11,892,999 shares of the pipeline company’s stock valued at $450,749,000 after purchasing an additional 467,497 shares during the period. CIBC Asset Management Inc boosted its holdings in TC Energy by 2.6% in the second quarter. CIBC Asset Management Inc now owns 8,515,086 shares of the pipeline company’s stock worth $322,584,000 after purchasing an additional 214,689 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in TC Energy by 156.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock worth $321,778,000 after purchasing an additional 4,126,801 shares during the period. Finally, Cardinal Capital Management Inc. raised its stake in TC Energy by 101.4% during the 2nd quarter. Cardinal Capital Management Inc. now owns 5,068,758 shares of the pipeline company’s stock valued at $192,024,000 after buying an additional 2,551,926 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors.

TC Energy Price Performance

NYSE TRP opened at $48.74 on Wednesday. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. TC Energy Co. has a 12 month low of $31.83 and a 12 month high of $50.37. The stock has a market cap of $50.59 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 4.12 and a beta of 0.81. The company’s 50 day moving average is $47.32 and its two-hundred day moving average is $43.41.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.70 by $0.06. The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. As a group, research analysts anticipate that TC Energy Co. will post 2.98 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a $0.822 dividend. This represents a $3.29 annualized dividend and a dividend yield of 6.75%. This is an increase from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Tuesday, December 31st. TC Energy’s payout ratio is presently 78.95%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on TRP shares. Veritas upgraded TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. The Goldman Sachs Group increased their price objective on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Monday, October 21st. UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. Finally, StockNews.com began coverage on shares of TC Energy in a research report on Tuesday. They issued a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $55.67.

TC Energy Company 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.