TC Energy (TRP): New Buy Recommendation for This Energy Giant


In a report released yesterday, National Bank from National Bank maintained a Buy rating on TC Energy (TRP), with a price target of C$70.00. The company’s shares closed last Wednesday at $45.08.

Currently, the analyst consensus on TC Energy is a Strong Buy with an average price target of $54.01, which is a 20.0% upside from current levels. In a report issued on November 18, Barclays also maintained a Buy rating on the stock with a C$63.00 price target.

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Based on TC Energy’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $3.2 billion and net profit of $943 million. In comparison, last year the company earned revenue of $3.13 billion and had a net profit of $780 million.

Based on the recent corporate insider activity of 301 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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