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TC Energy Corporation (TRP) Sparks Optimism With $8 Billion Projected Backlog

TC Energy Corporation (NYSE:TRP) is one of the 13 best oil and gas storage stocks to buy according to hedge funds.

On February 17, TD Securities downgraded its rating on TC Energy Corporation (NYSE:TRP) from Buy to Hold, while increasing the price target from C$84 to C$88. The firm explained that it had previously expected valuation premiums for companies offering strong long-term growth visibility. However, for TC Energy Corporation (NYSE:TRP), the recent stock surge suggests that this view is now largely reflected in the valuation.

On February 16, the price target for TC Energy Corporation (NYSE:TRP) was increased from C$80 to C$93 by Wells Fargo. The firm maintained an Overweight rating on the stock and reflected on the company’s recent call, highlighting two major positives.

The first one relates to an $8 billion projected demand backlog, with around 90% certainty. The second one was around the management’s plans for uncapped capital expenditures from 2029 onwards. These drivers fuel an upward shift in long-term capital deployment and validate a growth profile.

TC Energy Corporation (NYSE:TRP) is an energy infrastructure company that operates natural gas pipelines and specializes in energy generation, transportation, and storage. It sources natural gas from supply basins and delivers to distribution companies, power plants, industrial facilities, LNG export terminals, and businesses.

While we acknowledge the risk and potential of TRP as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than TRP and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 15 Most Promising Mid-Cap Healthcare Stocks Under $50 and 11 Most Promising Small-Cap Industrial Stocks Under $50.

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At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

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  • 175 Teslas
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  • 140 Metas
  • 84 Googles
  • 65 Microsofts
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  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

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