TC Energy (TRP)
Connects North American gas supply with utilities, power markets, industry, and LNG exporters.
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Transports and stores natural gas across Canada, the United States, and Mexico, connecting supply basins with utilities, industry, power markets, and LNG export facilities. Power and Energy Solutions adds generation led by Bruce Power, while regulated or contracted infrastructure and system integrity shape performance.
Transports and stores natural gas across Canada, the United States, and Mexico through Canadian, U.S., and Mexico Natural Gas Pipelines. Systems including NGTL, Canadian Mainline, Columbia Gas, ANR, Sur de Texas, and Coastal GasLink connect supply basins with utilities, industry, power markets, and LNG export facilities.
Power and Energy Solutions adds nuclear, gas-fired, wind, and solar generation, anchored by a minority interest in Bruce Power. Long-lived regulated or contracted infrastructure, continuous control centers, and system-integrity work underpin network availability and flows.
Following the South Bow separation, oil pipelines such as Keystone no longer belong to the portfolio. Performance depends on regulatory approvals, tariff settlements, permits, counterparties, construction execution, pipeline integrity, and Bruce Power availability and refurbishment, while TC Energy does not operate Bruce Power.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 14, 2026 | TD Securities | Upgrade | ||
| Sep 1, 2026 | Jefferies | Upgrade | ||
| Jul 31, 2026 | BMO Capital | Reiterate | Rating: —Target: — | Target: $99 |
| Apr 20, 2026 | Goldman Sachs | Upgrade | ||
| Apr 19, 2026 | Goldman Sachs | Target | Target: $53 | Target: $62 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $1.47B · Total debt $45.23B · Total assets $87.93B · Shareholders' equity $19.70B
- Revenue
- $2.83B
- Operating income
- $1.27B
- Net income
- $720.9M
Reported in CAD, converted at the latest exchange rate
HistoryDividendAnnual yieldUpcoming
| Institutions | 131.99% | 1.37B ADS | |
|---|---|---|---|
| 735 holders · as of Jun 30, 2026 | |||
| Adds to | 131.99% | ||
1.04B ADS (1 ADS = 2 ordinary shares) as of Sep 21, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
The share count is from the company's Dec 2024 annual report; nothing newer is on file here.
These groups come from separate filings that can overlap, so they add to 131.99%; nothing is left for Other.
This company has 2 share classes; every stake here is a share of the whole company.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Royal Bank of CanadaInstitution | 15.26% | 79.40M ADS · 79.40M ADS | as of Jun 30, 2026 |
Capital Research Global InvestorsInstitution | 8.36% | 43.52M ADS · 43.52M ADS | as of Jun 30, 2026 |
Bank of Montreal /Can/Institution | 7.16% | 37.26M ADS · 37.26M ADS | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 5.75% | 29.94M ADS · 29.94M ADS | as of Jun 30, 2026 |
FIL LtdInstitution | 5.36% | 27.89M ADS · 27.89M ADS | as of Jun 30, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
- Enbridge
Broad gas-transmission rival across Canada and the United States
- Kinder Morgan
Large U.S. gas rival across transmission, storage, LNG, and Mexico routes
- Williams
U.S. gas-transmission rival centered on Transco and Northwest Pipeline
- Energy Transfer
Diversified U.S. rival in interstate gas transportation and storage
- Pembina Pipeline
Western Canadian rival through Alliance Pipeline and gas infrastructure
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| TC Energy | $60.72 | +1.57% | $62.23B | 25.2 | 24.3 | 5.5 | +40.3% |
| Enbridge | $47.96 | +0.11% | $104.60B | 23.4 | 23.1 | 1.6 | +89.7% |
| Kinder Morgan | $31.70 | +1.36% | $69.63B | 20.0 | 21.4 | 3.9 | +10.8% |
| Williams | $72.10 | +1.58% | $86.82B | 28.2 | 30.0 | 7.1 | +10.2% |
| Energy Transfer | $20.67 | +1.30% | $70.20B | 12.7 | 12.6 | 0.7 | +78.4% |
| Pembina Pipeline | $46.16 | +0.52% | $26.70B | 22.9 | 22.6 | 4.7 | +15.2% |
| Median | 22.9 | 22.6 | 3.9 | +15.2% |