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TC Energy (TRP) Receives a Buy from BMO Capital

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In a report released today, Benjamin Pham from BMO Capital maintained a Buy rating on TC Energy (TRPResearch Report), with a price target of $78.00. The company’s shares closed last Friday at $49.26.

According to TipRanks.com, Pham is a top 100 analyst with an average return of 12.4% and a 77.5% success rate. Pham covers the Utilities sector, focusing on stocks such as Brookfield Renewable Partners, Northland Power, and TransAlta.

Currently, the analyst consensus on TC Energy is a Moderate Buy with an average price target of $58.77, implying a 15.5% upside from current levels. In a report issued on June 15, TD Securities also maintained a Buy rating on the stock with a C$75.00 price target.

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The company has a one-year high of $59.38 and a one-year low of $44.77. Currently, TC Energy has an average volume of 1.65M.

Based on the recent corporate insider activity of 187 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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