Stock Price & Analysis

Based on the technical and fundamental analysis of TRP's recent performance and market conditions, the stock appears to be in a neutral to slightly bearish trend, with the price hovering around $47 and showing limited momentum in either direction. The recent analyst coverage from TD Securities initiating a Buy rating with a C$73 target price suggests potential upside, but current market dynamics warrant caution.

The stock would be more attractive at lower price levels closer to the Fibonacci support at $45.97, while current price levels don't present a compelling entry point for new positions.

Based on the provided data and recent analyst coverage, here's the price prediction for TRP stock in 2025:

TC Energy (TRP) is expected to reach C$73 (approximately US$54) by the end of 2025, driven by its robust natural gas platform and strong growth outlook. TD Securities initiated coverage with a "Buy" rating and C$73 price target, ranking TRP first overall in their analysis of Canadian midstream companies.

The company's significant natural gas exposure and scale advantages position it well for outperformance in the Canadian midstream sector, with improved valuations and strong growth visibility supporting this bullish outlook.

Recent short covering activity in TRP suggests institutional investors are becoming more optimistic about the stock's prospects, as it was among the companies seeing the largest amount of short covering in the energy sector.

The S1 support level for TRP Stock is $45.96 ,The R1 resistant level for TRP Stock is $48.19.

As of the end of day on 2025-01-24, the price of TRP Stock was $47.55.

The target price for TRP Stock according to analyst rating is 50.46, with the highest price target at 54.95 and the lowest at 40.00. Analysts have a Moderate Buy rating on TRP Stock overall.

The market cap of TRP is $49.4B.

Based on the provided data and recent market analysis, TRP appears to be fairly valued with some concerns. The stock's PE ratio has decreased from 20.77 in Q1 2024 to 11.93 in Q3 2024, suggesting improving valuation metrics. However, the EV/EBITDA ratio increased from 13.25 to 14.35 during the same period, indicating mixed valuation signals.

Financial Performance Net income showed significant improvement, rising from CAD 1.2B in Q1 to CAD 1.46B in Q3 2024. The company's ROE has also strengthened considerably from 9.11% to 17.21%, demonstrating improved operational efficiency. However, debt levels remain a concern with debt-to-equity ratio increasing from 162.75% to 178.79%.

Analyst Perspectives Recent analyst ratings show mixed views:

• BMO Capital: Hold rating with price target raised to C$70 (Nov 2024)
• Goldman Sachs: Strong Sell with price target of $32 (Jan 2024)
• Barclays: Hold with price target of $55 (Jan 2024)

Technical Analysis The stock is currently trading near its fibonacci pivot point of $47.09, with resistance at $48.20 and support at $45.97. The RSI of 50.82 indicates neutral momentum.

Conclusion While TRP shows improving operational metrics and net income growth, the increasing debt levels and mixed analyst sentiment suggest caution. The stock appears to be fairly valued at current levels, with TD Securities recently initiating coverage with a Buy rating and C$73 target, though this is countered by Goldman Sachs' bearish stance.

TC Energy Corporation is a Canada-based energy problem solver working to move, generate and store the energy in North America. The Company's segments include Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines and Mexico Natural Gas Pipelines, and Power and Energy Solutions. The Company's business includes Energy Solutions, Natural Gas, and Power and Storage. The Natural Gas business includes its 93,600 kilometers (km) (58,100 miles) network of natural gas pipelines, which supplies more than 30 % of the clean-burning natural gas consumed daily across North America to heat homes, fuel industries and generate power. The Company’s energy infrastructure assets include investments in approximately 10 power-generation facilities with a combined generating capacity of approximately 4,600 megawatts (MW). The Company offers solutions across energy efficiency, renewable power, green feedstocks, and sequestration.

Based on the available data and analysis, here's a projection for TRP's stock price in 2030:

TC Energy (TRP) is projected to reach approximately $75-80 per share by 2030, driven by its strategic focus on natural gas infrastructure and growing energy demand. The company's strong position in natural gas transportation (90% of pro forma 2025 EBITDA) aligns well with projected North American natural gas demand growth to 160 Bcf/day by 2035.

Management's execution of $6-7 billion annual investments in low-risk, high-return growth projects targeting 5-7% CAGR in EBITDA through 2027, combined with increasing IRR on projects, supports this long-term price target.

TRP has a total of 7415 employees.