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TC Energy (TRP) Stock Price & Analysis

TRP Stock Chart & Stats

CA$89.34-CA$0.82(-0.91%)
At close: 11:30 AM EST
C$85C$90C$954 Aug17 Aug31 Aug14 Sep28 Sep13 Oct26 Oct
Day’s Range
CAD 89.83 - CAD 90.72
52-Week Range
CAD 69.41 - CAD 100.18
Previous Close
CAD 90.06
Volume
N/A
Average Volume (3M)
6.44M
Market Cap
CAD 93.94B
Enterprise Value
CAD 171.50B
Total Cash (Recent Filing)
CAD 2.07B
Total Debt (Recent Filing)
CAD 63.74B
Price to Earnings (P/E)
27.1
Beta
0.20
Next Earnings
Nov 05, 2026 (Est.)
EPS Estimate
0.88
Last Dividend Ex-Date
Sep 29, 2026
Dividend Yield
3.86%

Bulls Say, Bears Say

Bulls Say

Contracted, Regulated Revenue Model

Fee-based transportation under long-term contracts and regulated tariffs can make revenue more predictable than commodity-linked models. Reservation, take-or-pay and cost-of-service mechanisms support recurring cash generation and reduce direct exposure to gas and oil prices over the planning horizon.

Strong Profitability And Cash Generation

High gross margins of roughly 47%–51% and a TTM net margin near 22% indicate substantial earnings power across a large infrastructure base. TTM operating cash flow of about $8.6B and free cash flow of about $4.1B provide resources for investment, debt service and distributions.

Project Execution And Growth Pipeline

Management's execution is translating demand into assets and future growth: $2B was placed in service in H1 2026, about $3B was sanctioned YTD, and the backlog exceeds $20B. Rising gas-demand expectations and power-linked projects broaden the opportunity set beyond current operations.

Bears Say

Elevated Leverage

Debt at about 2.2x equity in both 2025 and TTM leaves less financial flexibility, particularly if rates remain high or investment needs rise. Leverage also means returns on the asset base are partly supported by borrowing, increasing the importance of disciplined capital allocation.

Long-dated Backlog Conversion Risk

The growth backlog is not a near-term earnings solution: much of the more than $20B origination pipeline is weighted beyond 2030, while FID timing remains dynamic. Delayed decisions could defer EBITDA and cash conversion and make the investment plan less predictable.

Canadian Regulatory Return Uncertainty

Canadian NGTL and growth returns remain under discussion, with management noting historically lower Canadian returns than U.S. levels. Without improved regulatory and commercial constructs, including possible ancillary or shared-savings mechanisms, some projects may deliver weaker economics or advance more slowly.

TC Energy News

TRP FAQ

What was TC Energy’s price range in the past 12 months?
TC Energy lowest stock price was C$69.41 and its highest was C$100.18 in the past 12 months.
What is TC Energy’s market cap?
TC Energy’s market cap is C$93.94B.
When is TC Energy’s upcoming earnings report date?
TC Energy’s next earnings report is estimated for Nov 05, 2026 (not yet confirmed), which is in 2 days.
How were TC Energy’s earnings last quarter?
TC Energy released its earnings results on Jul 30, 2026. The company reported C$0.94 earnings per share for the quarter, beating the consensus estimate of C$0.845 by C$0.095.
Is TC Energy overvalued?
According to Wall Street analysts TC Energy’s price is currently Undervalued.
Does TC Energy pay dividends?
TC Energy pays a Quarterly dividend of C$0.878 which represents an annual dividend yield of 3.86%. See more information on TC Energy dividends here
What is TC Energy’s EPS estimate?
TC Energy’s EPS estimate is 0.88.
How many shares outstanding does TC Energy have?
TC Energy has 1,041,939,100 shares outstanding.
What happened to TC Energy’s price movement after its last earnings report?
TC Energy reported an EPS of C$0.94 in its last earnings report, beating expectations of C$0.845. Following the earnings report the stock price went up 0.74%.
Which hedge fund is a major shareholder of TC Energy?
Hedge funds hold TC Energy shares: the largest hedge-fund position in TC Energy is 1,771,859,481 shares, and hedge funds decreased their holdings by 8.9M shares last quarter.
What is the TipRanks Smart Score and how is it calculated?
Smart Score combines eight research factors - such as analyst recommendations, hedge fund trends, and technical indicators - to measure a stock’s outlook. These signals are unified into a single score that reflects bullish or bearish momentum. See detailed methodology