TSE:TRP

TC Energy (TRP.TO)

83.17
-1.09 (1.29%)
as of Sep 25, 2026, 8:00:00 pm Market Open.
1334 watching
0
TOP PICK

Distribution for gas and energy, plus owns 7 power plants. Share price down due to material cost overrun, a buying opportunity. Company will get through this temporary issue. Trades at 13x. Plenty of room for stock appreciation. Yield is 6.59%, double that of the TSX, but same valuation as the market.

(Analysts’ price target is $62.98)
HOLD

Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research.

TRP came out with a cost estimate to finish the Coastal GasLink projects, and costs have soared. 
Material cost pressures have increased the capex estimate to $14.5B. 
If the project is delayed into 2024, another $1.2B. 
The company has warned on costs before, and now estimates are double the original cost expectation. 
We do not expect this to impair the dividend, and with the drop yield is approaching 7%. 
With the decline already in the price, we would HOLD. Unlock Premium - Try 5i Free

DON'T BUY
Short in company shares given price momentum. Current valuation middle of pack. Very stable stock. Lots of debt on the balance sheet.
BUY
Interest rate hikes have prevented this from returning to pre-Covid highs. Has been under pressure in recent months because of their oil spill and overruns on the Coastal Gaslink, but these are short term. Because there is a finite number of pipelines, this makes TRP a buy. It has been unfairly published and prospects look good.
WEAK BUY
Locked in a sideways trading range. Great thing is that you get these really great long-term dividend payments. Should hold in well during market turmoil. Decent performer through 2022. Doesn't mind adding here at its longer term support. Still cautious on energy. Don't overweight.
WEAK BUY
Investor Day didn't deliver. Higher costs. Dividend growth going to be less robust, but not at risk. Rising interest rates have hurt bond-proxy stocks. Don't want to be in this if you expect markets to improve. Good for dividend seekers, but not at the top of his list for a 2023 recovery. Yield is 6.8%, attractive.
PARTIAL BUY
Cheap at 9.8x 2024 free cash yield, but only a 3% 2022-24 growth rate. Pays a 7% dividend. Not bad considering the overall market. He likes the stock price down here. Sell some puts and try to buy at even lower levels. Or you can start buying now and more in coming months, and you will be fine.
BUY
Good space with great assets and long term service agreements. 3rd choice amongst Enbridge and Pembina. Owns shares, but not too many. Affected by recent energy selloff. Yielding above 6% (believes dividend is safe).
COMMENT
Dividend safe? About 20 years ago, TRP cut its dividend. Masses of widows and orphans descended on Bay Street with pitchforks and torches. Shareholder revolt. So a lot of things have to go wrong for it to cut.
BUY
Canadian bellwether stock. Good business in the long term. Is a good time to buy right now. Would recommend buying.
TOP PICK
Recent rise of share price is less desirable for investors today (want to buy low), but still believes a good time to buy. Large distribution network across North America. Attractive dividend that is a good long term investment. Rising energy prices good for the company.
Unspecified
A great business along with Enbridge and others. Dividend is safe and grows year after year. Has a big project in Mexico so there has been overhanging fear of a large equity issue. It did have an equity issue months ago but says it will not use equity again for any more funding if needed.
BUY
Slightly better value than ENB right now, but both stocks work at these levels.
BUY
Defensive against a recession? We're probably already in a recession, as the telling numbers lag a bit. Perfect type of stock you want to own through this. Good, stable business with critical infrastructure assets. Avoided by ESG investors, but a good buying opportunity for the rest of the community.
TOP PICK
He recently re-entered this. Its valuation is incredible and it pays a 6.5% dividend which is sustainable. Strong balance sheet. It's good value for the next 12 months. He started buying this. Recession fears are a risk though. (Analysts’ price target is $69.08)
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