TC Energy initiated with a Buy at TD Securities

TD Securities analyst Aaron MacNeil last night initiated coverage of TC Energy (TRP) with a Buy rating and C$73 price target Companies with natural gas exposure and size advantages ranked best in TD’s scorecard, and should trade at the highest multiples, the analyst tells investors in a research note. The firm says the Canadian Midstream sector offers income-oriented investors low financial volatility and a growing dividend with an attractive yield. TD named Pembina its top pick in the group. TC topped TD’s scorecard ranking, due to its high natural gas exposure that ranks favorably in the context of relative portfolio quality and growth, the firm contends.