TSE:TRP

TC Energy (TRP.TO)

98.83
-0.77 (0.77%)
as of Jun 26, 2026, 8:00:00 pm Market Open.
1333 watching
0
Investor Insights
star iconJun 26, 2026, 12:00 am

This summary was created by AI, based on 18 opinions in the last 12 months.

TC Energy (TRP) is perceived as one of the more expensive stocks in the midstream pipeline sector, trading at a premium valuation due to its strong position in natural gas infrastructure and expanding project backlog. While experts acknowledge the company's stable cash flows, solid dividend growth, and investment-grade credit rating, they are cautious about its current high price-to-earnings (PE) ratio, which is around 23x for 2028 earnings growth of about 6%. Many analysts recommend holding the stock for the long term, given its robust network and potential for continued growth, particularly as natural gas becomes a more favored energy source. However, some experts suggest waiting for a more attractive entry point, as the overall market conditions could lead to volatility and potential downgrades in valuations, particularly in light of rising interest rates. Overall, TRP is viewed positively for its long-term utility but with concerns regarding its current valuation.

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Consensus
Hold
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Valuation
Overvalued
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ENB
BUY
Think about it in terms of natural gas. With electrification, he doesn't see a drop in demand for nat gas, so they should be able to continue unabated without Keystone. Still planning to spend. An OK pick for income. Has some renewables. Worth buying right now. Bond substitute, given low interest rates. Yield is about 6%.
WEAK BUY

It is one of two large cap pipelines in Canada. He prefers ENB-T in this case with more attractive growth prospects but you are okay with TCM-T. GEI-T is another good one.

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Curated by Michael O'Reilly since 2020.
1550+ opinions with 4.81 rating (one of the best performing expert).

TOP PICK
Stockchase Research Editor: Michael O'Reilly TRP operates a massive energy infrastructure system of pipelines, storage facilities and power generation throughout North America, including Mexico. It's Keystone XL project has become a political football, as newly elected President Biden signed an executive order denying a permit on his first day -- countering the permit granted by the previous Trump Administration. The company still makes money and pays a good dividend. We would buy this with a stop-loss at $47, looking to achieve $70 -- upside over 26%. Yield 5.85% (Analysts’ price target is $68.60)
HOLD
She does not think a cancellation of the XL project will impact this company. They will still grow their dividend. The news is a negative sentiment action on the stock price.
BUY
Feels very good about it. Due for a dividend increase. Has bounced off the $52 level three times. Still near March lows, but with strong fundamentals. Nat gas prices in NA and offshore are doing quite well. Keystone XL risk is a red herring, as Alberta government has removed the risk. Actively adding. Yield is 6%.
COMMENT
Energy companies have a ways to run. Despite robust dividends, they'll benefit from increased demand in energy. Biden won't be as aggressively anti-fossil fuel as thought. Examine your reasons for buying, and ask if they're still true. If not, sell. Yield is 6.25%.
HOLD
Canadian pipelines have been under huge pressure; low energy prices don't help. The dividend is safe and will even grow. Higher interests will be negative, though. These stocks have enjoyed very low rates in recent years. Definitely hold onto it.
BUY
It had major pull backs in 2015 and 2018 because of rising rates but we don’t have these rising rates this year. There is a debate as to whether the future of Nat Gas is at risk but some forecast that consumption in the US will go up 40% in the next few years. It's a buying opportunity. You could get a 5% dividend and 3% growth.
HOLD
Not a great performer this year, though a nice dividend. Boring, low-growth is out of favour. But the reason you want to own it, is that it doesn't go up and down like a pogo stick. Over 10 years, dividend will go up, as well as the price. Acts as a stabilizer and compounds over time.
BUY

vs. Tourmaline Oil Like ENB, it faces the same regulatory approval headwinds; will Biden approve Keystone XL? TC still has many pipelines operating and pays a safe dividend. You can't compare this to Tourmaline, like apples vs. oranges.

BUY
It sells off whenever interest rates increase. It is attractive to own. A biden government should help with demand for Canadian oil.
BUY
Good candidate as an income stock. Defensible cashflow, long-term contracts, investment-grade clients. In same negative bucket as the producers. Would have no problem owning. Even if Keystone doesn't come through, shouldn't impact them much.
TOP PICK
Best positioned nat gas company in NA, as between 2/3 and 3/4 of their business has a natural gas focus. Conservative balance sheet. Great dividend growth track record. Shares are way too cheap. Yield is 6.06%. (Analysts’ price target is $70.30)
COMMENT

One of Canada's largest midstream. He likes. It has suffered in recent months. Expectations of a Biden win have pressured these stocks. Sentiment is everything in energy, and a Blue Wave on Nov. 3 will hurt. He prefers Enbridge, because a Biden win would benefit ENB. ENG also yield 2% more than TC.

COMMENT
There is always headline risk for pipelines. If the Keystone XL pipeline is cancelled, the stock may take a hit. However, the company is looking at growing dividends by 5-6% annually.
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