Brown Brothers Harriman & Co. Purchases Shares of 11,156 TC Energy Co. (NYSE:TRP)

Brown Brothers Harriman & Co. acquired a new stake in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 11,156 shares of the pipeline company's stock, valued at approximately $530,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of TRP. EdgeRock Capital LLC bought a new position in TC Energy during the 2nd quarter valued at approximately $25,000. Whittier Trust Co. of Nevada Inc. increased its stake in shares of TC Energy by 138.8% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company's stock valued at $28,000 after buying an additional 429 shares during the period. Fortitude Family Office LLC bought a new position in shares of TC Energy during the third quarter valued at approximately $28,000. Blue Trust Inc. lifted its stake in TC Energy by 72.0% in the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company's stock worth $30,000 after acquiring an additional 267 shares during the period. Finally, Mather Group LLC. bought a new stake in TC Energy in the second quarter valued at $33,000. 83.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Veritas raised shares of TC Energy to a "strong sell" rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. upgraded shares of TC Energy from a "neutral" rating to an "overweight" rating in a report on Monday, October 14th. Morgan Stanley upgraded TC Energy from an "underweight" rating to an "overweight" rating in a report on Friday, October 25th. StockNews.com assumed coverage on TC Energy in a research note on Tuesday. They issued a "hold" rating for the company. Finally, BMO Capital Markets upped their price target on TC Energy from $66.00 to $70.00 and gave the stock a "market perform" rating in a research note on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, TC Energy currently has a consensus rating of "Hold" and an average price target of $55.67.

TC Energy Price Performance

TRP stock opened at $48.74 on Wednesday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. The firm has a market capitalization 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 firm has a 50 day moving average price of $47.32 and a 200-day moving average price of $43.41. TC Energy Co. has a 52-week low of $31.83 and a 52-week high of $50.37.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.83 billion. Equities research analysts forecast that TC Energy Co. will post 2.98 EPS for the current fiscal year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.822 dividend. The ex-dividend date is Tuesday, December 31st. This is a boost from TC Energy's previous quarterly dividend of $0.70. This represents a $3.29 annualized dividend and a yield of 6.75%. TC Energy's payout ratio is 78.95%.

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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