TC Energy Corp T.TRP.PR.E

TD

[Dibah420]

TC Energy Target Price Lowered to $68 at TD

 

15 Feb 202311:41 ET

 

11:41 AM EST, 02/15/2023 (MT Newswires) -- TD Securities lowered its target price on TC Energy Corp. (TRP.TO, TRP) to $68 from $71 on Wednesday.

Analyst Linda Ezergailis maintained a Buy rating on shares of the Calgary-based energy infrastructure company following its Q2 results.

"Fourth-quarter results were above our estimates, primarily due to higher contract pricing at Bruce Power, stronger-than-forecasted Natural Gas Pipelines contribution from growth projects placed into service, and a stronger US dollar, as well as impact from Mexican assets placed into service (Villa de Reyes North and Tula East)," Ezergailis said in a note to clients.

"In the long term, we believe TRP's incumbency in prolific natural-gas-producing regions in North America, combined with access to large markets, the company's scale, energy infrastructure expertise, low-risk business model, and improving financial strength position it well as societies transition to using lower-carbon energy sources over the long term, while ensuring energy security for North America and its global counterparties," the analyst said.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 56.28, Change: -0.14, Percent Change: -0.25

[JerJohnston]

I hope the CEO realizes you cannot build and operate pipelines on budget and safely by hiring a bunch of woke pronoun obsessed Gen Zs.  What used to be Investor Relations is now a large team of tiktokers.