Barclays Reaffirms Their Hold Rating on TC Energy (TRP)

In a report released today, Theresa Chen from Barclays maintained a Hold rating on TC Energy (TRP – Research Report). The company’s shares closed yesterday at $35.10.

According to TipRanks, Chen is a 5-star analyst with an average return of 16.3% and a 72.95% success rate. Chen covers the Energy sector, focusing on stocks such as Oneok, TC Energy, and Enbridge.

Currently, the analyst consensus on TC Energy is a Moderate Buy with an average price target of $42.32, a 20.57% upside from current levels. In a report released yesterday, CIBC also maintained a Hold rating on the stock with a C$56.00 price target.

Based on TC Energy’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $4.24 billion and a GAAP net loss of $978 million. In comparison, last year the company earned a revenue of $4.04 billion and had a net profit of $1.65 billion

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.