TSE:TRP

TC Energy (TRP.TO)

88.19
-1.37 (1.53%)
as of Aug 7, 2026, 8:00:00 pm Market Open.
1333 watching
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Investor Insights
star iconAug 7, 2026, 12:00 am

This summary was created by AI, based on 20 opinions in the last 12 months.

TC Energy (TRP) is perceived as a stable investment within the energy sector, particularly due to its strong positioning in natural gas infrastructure. Most experts agree that while the company has experienced significant price increases recently, concerns about its current valuation being on the high side have emerged. The consensus leans towards waiting for a better entry point given the potential for lower valuations in the near future. Many analysts appreciate the dividend yield and contracted cash flows, along with the company's long-term growth prospects; however, they caution against entering at the current prices due to perceived overvaluation. Overall, the views on TRP showcase a blend of appreciation for its stability and dividend payouts, tempered by the outlook for a cooling in growth expectations.

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Consensus
Hold
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Valuation
Overvalued
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Similar
ENB,ENB
PAST TOP PICK
(A Top Pick Jan 15/19, Up 32%) Pipelines are a good place to be right now, especially with constraints on pipelines. They have also been able to increase tariff rates. Still one of his favorites. Yield 4.4%
BUY
ENB and Transcanada: own both? Both have done well, both have made larger US acquisitions and both are reducing debt. Both have a good growth profile. Both pay a nice dividend. Happy to own either, but pick just one.
COMMENT
Pays a decent yield and has an okay balance sheet. 22% upside potential. He's neutral about it. Not excited. Neither a buy or sell.
BUY

and Enbridge He owns this and Enbridge, and likes both. They both pay good yields; TC pays around 4.5%. Both are highly levered, though. Pipelines and utilities can maintain revenues in a slowdown. For both, what are their long-term capital plans to maintain growth. They both have buoyant plans. He'd buy both.

BUY

TRP vs. Enbridge Both are great companies, but prefers TC for paying a higher dividend (that should continue to rise), and a more stable balance sheet. ENB has a lot of debt from acquisitions. ENB's dividend is higher, but less safe. TC is a core investment.

PAST TOP PICK
(A Top Pick Nov 02/18, Up 39%) He recommended this when the markets were going down. Interest rates are falling, and high yield attracts money to utilities. There is steady growth and there will be a 10% dividend growth. Growth and income at the same time.
BUY
8 to 10% dividend growth to 2021 and 5-7% thereafter. This is a regulated utility and has the ability to increase prices. You can buy it for a defensive portfolio.
HOLD
Scarcity value of pipelines has gone way up. You want to own one or two. Good assets. Right-sized balance sheet. Big guys are your safest bet. Buy one, hold for a long time, and collect the dividend. Multiple will be higher in 5 years.
PAST TOP PICK
(A Top Pick Sep 17/18, Up 30%) When he bought this it was a defensive play. When the market sold the utility and pipeline space off, he bought. He still owns it today. It has good upward price momentum and a payout ratio of only 70%. It is highly levered, so be careful from here. He would still be a hold. Yield 4.5%
HOLD
They still have the keystone XL issue but all else is going okay. Investors are drawn to this stock for the yield and growing dividend. It is not a cheap stock anymore. People are driving it up. It is all yield-driven.
COMMENT

The Federal government is anti-pipeline? He looks at either TRP-T and ENB-T for this space. He prefers the valuation of ENB-T at this time. He likes how TRP-T is re-inventing itself however. There is a big question mark around whether Keystone pipeline will actually get built. Any hint of failing to go forward could negatively impact the TRP-T share price.

COMMENT
Has owned it for a long time. They've been consolidating by selling off assets, but still has about 23 billion to go in their building program. The dividend has been rising at 7-10% in line with expectation. Good yield and expected growth.
TOP PICK
One of the largest infrastructure companies in North America. You are being paid to wait for their projects to be completed. Very good value here. Yield 4.6%. (Analysts’ price target is $68.39)
HOLD
He no longer owns this. Not that it was a bad company, it was just he held a large proportion of utility holdings. It has some issues on pipelines in development. The recent US asset sell off is a good plan to help rebalance the balance sheet.
COMMENT
He has been avoiding the utilities as they get compared to the yield curve. However as the yield curve has narrowed, profitability has increased and the share price this year reflects that. Looking out 5 years, if rates go up it may hurt them.
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