TC Energy: Strong Operational Performance but Limited Upside Potential Justifies Hold Rating

Jefferies analyst Lloyd Byrne has maintained their neutral stance on TRP stock, giving a Hold rating on July 20.

Lloyd Byrne has given his Hold rating due to a combination of factors influencing TC Energy’s performance. The company reported a higher-than-expected EBITDA, driven by strong results across all business segments, including Gas Pipelines in the US and Mexico, as well as Power & Energy. This indicates a robust operational performance.
However, despite the positive earnings beat and the approval of regulated tolls on the Southeast Gateway, which could facilitate asset sales, the guidance for capital expenditures remained unchanged. The modest increase in FY25 EBITDA guidance suggests limited upside potential, prompting a Hold rating as investors await further clarity on growth capital plans and strategic initiatives.

According to TipRanks, Byrne is a 5-star analyst with an average return of 18.3% and a 55.36% success rate. Byrne covers the Energy sector, focusing on stocks such as Schlumberger, Expand Energy, and Baker Hughes Company.

In another report released on July 20, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a C$70.00 price target.