Scotiabank Keeps Their Buy Rating on TC Energy (TRP)

Scotiabank analyst Robert Hope maintained a Buy rating on TC Energy (TRP – Research Report) today and set a price target of C$58.00. The company’s shares closed yesterday at $35.19.

According to TipRanks, Hope is a 4-star analyst with an average return of 7.3% and a 58.91% success rate. Hope covers the Energy sector, focusing on stocks such as TC Energy, Enbridge, and Pembina Pipeline.

TC Energy has an analyst consensus of Moderate Buy, with a price target consensus of $42.85, implying a 21.77% upside from current levels. In a report released today, Stifel Nicolaus also maintained a Buy rating on the stock with a C$61.00 price target.

TRP market cap is currently $37.25B and has a P/E ratio of 17.69.

Based on the recent corporate insider activity of 158 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 (TRP) Company Description:

Canada-based TC Energy Corporation is an energy infrastructure company. It operates through the following business segments: Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, and Power and Storage.