Tudor, Pickering, Holt on Friday maintained its buy rating on the shares of TC Energy (TRP.TO, TRP) with a C$80.00 price target following the company's fourth-quarter results.
"Positive. TRP reported Q4'25 comparable EBITDA of C$2,964MM, versus TPH (C$2,886MM) and Street estimates (C$2,887MM). U.S. Natural Gas Pipelines totaled C$1,388MM, versus our expectations of C$1,326MM. Power came in at C$217MM versus our estimate of C$258MM, Canadian Natural Gas Pipelines at C$961MM versus TPHe of C$918MM, and Mexico Natural Gas Pipelines at C$397MM versus TPHe of C$395MM. The beat in the US Gas segment was driven by ANR, which came in $40MM above our estimates. The beat within CAD pipelines was driven by both NGTL and the Mainline. TRP reaffirmed its FY 2026 comparable EBITDA guidance range of C$11.6 to C$11.8B compared to TPH and Street estimates of C$11.930B and C$11.731B, respectively," analyst Zack Van Everen wrote.
(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: 85.99, Change: +2.40, Percent Change: +2.87