TSE:TRP

TC Energy (TRP.TO)

83.17
-1.09 (1.29%)
as of Sep 25, 2026, 8:00:00 pm Market Open.
1335 watching
0
COMMENT
TRP vs. ENB ENB has a nice yield, but it's paying out too much. Balance sheet is slipping. Still waiting for US acquisition to produce solid earnings. Shares running up against strong technical resistance of $37. FMV is only 15% higher. Do you hang on and wait, or sell at technical resistance? Flip a coin and choose. As for TRP, it's almost right at 2x book, which is significant technical support/resistance. Which means potential for $86 on the upside, $60 on the downside. Take that coin and flip it again. He's not trying to be cute. Sometimes share direction is in the lap of the gods. If you simply hang on, you'll be all right as you earn a dividend while you wait. Depends on your time horizon and short-term risk tolerance. If you have a long horizon, sit back and enjoy the income, and don't look at the share price every week.
BUY ON WEAKNESS
Nothing wrong with it. It is pretty cheap with a great dividend. Safe - good blue chip. Would pick over Enbridge. See previous Enbridge comments. Accumulate on weakness.
BUY
TRP vs. ENB Tough call, he owns both. Quite similar, but different. Loves infrastructure, as it's impossible to build more these days. ENB is more oily, whereas TRP is more into nat gas. Both solid, dividend growers, great cashflow. TRP is more focused on renewables. Both going in that direction. Both stocks were hammered recently for different reasons, buying opportunity.
WEAK BUY
TRP vs. ENB vs. PPL No quarrel with an investment in this. Mid-stream assets are strategic, critical, long-life, and attract high valuations. His preference would be ENB or PPL, on valuation and business mix.
COMMENT
Owns company in TFSA. Company moving towards natural gas in pipelines. Stock struggling because pipeline to USA blocked (Keystone). Will grow dividend at ~5%. Not huge expectations on stock price movements.
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PAST TOP PICK
(A Top Pick Feb 02/21, Up 6.7%)Stockchase Research Editor: Michael O'Reilly Our PAST TOP PICK with TRP is progressing well. We now recommend trailing up the stop (from $47) to $54.
BUY
Selloff in mid-streams favours owning them over a producer like CVE. Producers are more commodity exposed, with risks of labour cost inflation and supply chain shortages. He prefers names like ENB, PPL, and TRP with their healthy dividends and less volatility.
BUY
He has a bias towards Canadian mid-streams right now. ENB and TRP have sold off materially. With Keystone behind TRP, it can focus on the growth ahead. Pipelines are impossible to build now. Existing value will continue to creep up.
PAST TOP PICK
(A Top Pick Nov 04/20, Up 22%) Definitely would buy it again. The stock was on a nice trend until they adjusted down their dividend growth. The market took it negatively, but he notes that the dividend is nearly 6% and it's grown 7.5% annually for the last 10 years, doubled the dividend in the last 10 years. He's happy with TC, and their positioning in LNG.
HOLD
Fine as an income stock. She owns ENB and PPL instead. Difficult to build new pipeline infrastructure. Has lagged, perhaps because the others have more crude oil.
BUY
He prefers this over ENB-T because the future for Nat Gas is brighter than oil.
DON'T BUY
US government stopped its line. Overhang of negativity. Upside potential is 25-26% from here. What's the fundamental underlying trend of book value? With TRP, it's been up and flattening. No overwhelming urge to get in. Trading right up at one of its resistance targets of $67.50. Be very careful. If it busts out, look for $84-85, but no evidence of that happening. Nice yield of 5.2% is not enough to entice him.
BUY
He owns this and ENB. You need to own stocks with secure dividends and contracted revenues, namely capital projects that'll raise cash flow over time. You get a bit more of a yield premium with ENB vs. TRP, but he likes both. Solid assets.
TOP PICK
Hasn't performed well. Keystone XL is in the past, and the company is more stable without it. Best nat gas transmission assets in NA, and nat gas demand is steadily increasing. Nat gas will be a necessary offset to increasing renewables, for times when renewables don't generate. Utility-like, well set up for future, good capital project growth. Good value below $60. Yield is 5.88%. (Analysts’ price target is $69.02)
DON'T BUY
He hasn't looked at this for a while. As a sector, these aren't the same dividend stocks of years ago. The pipeline business is like squeezing orange juice from the peels. It's not a growth business; we're not moving more oil through pipelines. They grow by buying other companies.
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