Barclays Reaffirms Their Buy Rating on TC Energy (TRP)

In a report released today, Theresa Chen from Barclays maintained a Buy rating on TC Energy, with a price target of C$80.00.

Meet Your ETF AI Analyst

• Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
• Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.

Chen covers the Energy sector, focusing on stocks such as Oneok, DT Midstream, and Kinder Morgan. According to TipRanks, Chen has an average return of 15.2% and a 68.34% success rate on recommended stocks.

In addition to Barclays, TC Energy also received a Buy from CIBC’s Robert Catellier in a report issued yesterday. However, on the same day, Jefferies maintained a Hold rating on TC Energy (NYSE: TRP).

Based on TC Energy’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of C$3.74 billion and a net profit of C$861 million. In comparison, last year the company earned a revenue of C$4.09 billion and had a net profit of C$990 million

Based on the recent corporate insider activity of 163 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TRP in relation to earlier this year.