TC Energy (TRP) Gets a Buy Rating from Barclays

In a report released yesterday, Christine Cho CFA from Barclays maintained a Buy rating on TC Energy (TRP), with a price target of C$65.00. The company’s shares closed last Friday at $45.05.

According to, CFA is a 1-star analyst with an average return of -2.2% and a 48.3% success rate. CFA covers the Services sector, focusing on stocks such as Enterprise Products Partners, Cheniere Energy Partners, and Dcp Midstream Partners.

TC Energy has an analyst consensus of Strong Buy, with a price target consensus of $55.14, implying a 23.2% upside from current levels. In a report issued on July 7, Stifel Nicolaus also maintained a Buy rating on the stock with a C$82.00 price target.

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Based on TC Energy’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $3.42 billion and net profit of $1.19 billion. In comparison, last year the company earned revenue of $3.49 billion and had a net profit of $1.05 billion.

Based on the recent corporate insider activity of 371 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TRP in relation to earlier this year.

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TC Energy Corporation engages in the provision of energy infrastructure services. It operates through the following business segments: Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, Power and Storage, and Corporate. The Canadian Natural Gas Pipelines segment consists of regulated natural gas pipelines. The U.S. Natural Gas Pipelines segment manages the regulated natural gas pipelines, regulated natural gas storage facilities, midstream, and other assets. The Mexico Natural Gas Pipelines invests on regulated natural gas pipelines in Mexico. The Liquids Pipelines handles investments on crude oil pipeline systems. The Power and Storage segment consists of power generation plants and non-regulated natural gas storage facilities. The company was founded on May 15, 2003 and is headquartered in Calgary, Canada.

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