TC Energy Maintained at Buy at TPH Following its Investor Day; Price Target at C$74.00

MT Newswires Live11-22

Tudor, Pickering, Holt on Friday maintained its buy rating on the shares of TC Energy (TRP.TO, TRP) with a C$74.00 price target as it updated its models after the power and pipeline company staged its annual investor day presentations.

"This morning, we updated our TRP model post-Investor Day, with 2024 EBITDA now estimated at C$11.163B, in line with Street estimates. For 2025, our EBITDA estimate increased from C$10.358B to C$10.716B compared to Street estimates of C$10.722B and guidance of C$10.7-10.9B. Our estimates moved up due to higher contributions from NGTL, lower build multiples on US gas pipelines, slightly higher rates and contracting on certain US pipelines, and shifting Southeast Gateway forward a quarter. In 2027, our estimates moved up from C$11.570B to C$11.879B compared to Street estimates of C$11.985B and guidance of C$11.7-11.9B. With the update, we also shifted our valuation model to 2026, which increased our PT to C$74 from C$61. We do not put a capex wedge in our model, but TRP did lay out a relatively full budget over the next 5 years with the opportunity to capture up to 23 Bcf/d of gas-demand opportunities," analyst Zack Van Everen noted.

(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)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2485266780?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-11-22 22:24","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2485266780","market":"hk","top_or_hot":-1,"title":"TC Energy Maintained at Buy at TPH Following its Investor Day; Price Target at C$74.00","media":"MT Newswires Live","content":"<html><body><p> Tudor, Pickering, Holt on Friday maintained its buy rating on the shares of <a href=\"https://laohu8.com/S/TRP\">TC Energy</a> (TRP.TO, TRP) with a C$74.00 price target as it updated its models after the power and pipeline company staged its annual investor day presentations.</p><p>\"This morning, we updated our TRP model post-Investor Day, with 2024 EBITDA now estimated at C$11.163B, in line with Street estimates. For 2025, our EBITDA estimate increased from C$10.358B to C$10.716B compared to Street estimates of C$10.722B and guidance of C$10.7-10.9B. Our estimates moved up due to higher contributions from NGTL, lower build multiples on US gas pipelines, slightly higher rates and contracting on certain US pipelines, and shifting Southeast Gateway forward a quarter. In 2027, our estimates moved up from C$11.570B to C$11.879B compared to Street estimates of C$11.985B and guidance of C$11.7-11.9B. With the update, we also shifted our valuation model to 2026, which increased our PT to C$74 from C$61. We do not put a capex wedge in our model, but TRP did lay out a relatively full budget over the next 5 years with the opportunity to capture up to 23 Bcf/d of gas-demand opportunities,\" analyst  Zack Van Everen noted.</p><p>(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)</p></body></html>","source":"mtnewswires_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>TC Energy Maintained at Buy at TPH Following its Investor Day; Price Target at C$74.00</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTC Energy Maintained at Buy at TPH Following its Investor Day; Price Target at C$74.00\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-22 22:24 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.mtnewswires.com/><strong>MT Newswires Live</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Tudor, Pickering, Holt on Friday maintained its buy rating on the shares of TC Energy (TRP.TO, TRP) with a C$74.00 price target as it updated its models after the power and pipeline company staged its...</p>\n\n<a href=\"https://www.mtnewswires.com/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TPH","symbol_name":"Tri Pointe Homes Inc.","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2485266780","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2485266780","pubTimestamp":1732285475,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1092851196","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"Tudor, Pickering, Holt on Friday maintained its buy rating on the shares of TC Energy (TRP.TO, TRP) with a C$74.00 price target as it updated its models after the power and pipeline company staged its","collect":0,"end_time":0,"defaultTopTitle":"","property":["rate"],"viewcount":null,"language":"en","relate_stocks":{"TPH":"Tri Pointe Homes Inc.","TC":"团车","TRP":"TC Energy"},"translate_title":"TC Energy维持买入评级公司在投资者日之后在TPH；目标价为74.00加元","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TC":1,"TPH":1,"TRP":1},"content_text":"Tudor, Pickering, Holt on Friday maintained its buy rating on the shares of TC Energy (TRP.TO, TRP) with a C$74.00 price target as it updated its models after the power and pipeline company staged its annual investor day presentations.\"This morning, we updated our TRP model post-Investor Day, with 2024 EBITDA now estimated at C$11.163B, in line with Street estimates. For 2025, our EBITDA estimate increased from C$10.358B to C$10.716B compared to Street estimates of C$10.722B and guidance of C$10.7-10.9B. Our estimates moved up due to higher contributions from NGTL, lower build multiples on US gas pipelines, slightly higher rates and contracting on certain US pipelines, and shifting Southeast Gateway forward a quarter. In 2027, our estimates moved up from C$11.570B to C$11.879B compared to Street estimates of C$11.985B and guidance of C$11.7-11.9B. With the update, we also shifted our valuation model to 2026, which increased our PT to C$74 from C$61. We do not put a capex wedge in our model, but TRP did lay out a relatively full budget over the next 5 years with the opportunity to capture up to 23 Bcf/d of gas-demand opportunities,\" analyst  Zack Van Everen noted.(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)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2485266780"}