TC Energy, the Energy sector company, was revisited by a Wall Street analyst today. Analyst Sam Burwell from Jefferies maintained a Hold rating on the stock and has a C$73.00 price target.
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Sam Burwell has given his Hold rating due to a combination of factors related to TC Energy’s recent performance and future projections. The company’s third-quarter EBITDA results were in line with expectations, and the new 2028 EBITDA guidance slightly exceeds consensus estimates, suggesting a moderate growth trajectory. However, the guidance for 2026 remains within the expected range, and there are no changes to the 2025 EBITDA and capital expenditure guidance, indicating a stable but not overly aggressive growth outlook.
Additionally, TC Energy has sanctioned new projects, notably on the Columbia pipeline, which are expected to support future growth. Despite these positive developments, the company’s leverage remains slightly above its target, although it is on track to reduce it. This combination of steady performance, moderate growth projections, and ongoing financial adjustments contributes to the decision to maintain a Hold rating, as the potential for significant upside appears limited in the near term.
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.