Scotiabank Has Negative Opinion of TC Energy FY2026 Earnings

TC Energy Corporation (NYSE:TRP) (TSE:TRP) – Investment analysts at Scotiabank cut their FY2026 earnings per share estimates for shares of TC Energy in a research note issued on Friday, September 25th. Scotiabank analyst R. Hope now expects that the pipeline company will post earnings of $2.70 per share for the year, down from their previous forecast of $2.76. Scotiabank currently has a “Outperform” rating on the stock. The consensus estimate for TC Energy’s current full-year earnings is $2.78 per share. Scotiabank also issued estimates for TC Energy’s FY2027 earnings at $2.82 EPS.

TRP has been the subject of a number of other reports. The Goldman Sachs Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating and set a $71.00 price objective for the company in a report on Wednesday. TD Securities upgraded TC Energy from a “hold” rating to a “buy” rating in a report on Monday, September 14th. Morgan Stanley cut TC Energy from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, June 10th. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Thursday, August 20th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of TC Energy in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, TC Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.00.

TC Energy Stock Performance

TRP stock opened at $57.93 on Tuesday. The firm has a 50 day moving average of $63.01 and a two-hundred day moving average of $65.06. TC Energy has a 12 month low of $49.27 and a 12 month high of $71.47. The company has a market capitalization of $57.93 billion, a price-to-earnings ratio of 24.04 and a beta of 0.66. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.64.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.07. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.76 billion. TC Energy had a return on equity of 11.10% and a net margin of 22.91%.During the same quarter in the prior year, the company posted $0.82 earnings per share.

Institutional Trading of TC Energy

Hedge funds have recently added to or reduced their stakes in the business. TD Asset Management Inc increased its position in TC Energy by 6.3% in the 4th quarter. TD Asset Management Inc now owns 20,868,772 shares of the pipeline company’s stock worth $1,150,656,000 after buying an additional 1,244,525 shares during the period. Canada Pension Plan Investment Board bought a new position in TC Energy during the second quarter worth $1,148,244,000. GQG Partners LLC acquired a new position in TC Energy during the 2nd quarter valued at $1,107,936,000. Deutsche Bank AG raised its stake in TC Energy by 1.3% during the 2nd quarter. Deutsche Bank AG now owns 15,821,521 shares of the pipeline company’s stock valued at $1,048,809,000 after purchasing an additional 196,543 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in TC Energy in the 2nd quarter worth $977,976,000. Institutional investors own 83.13% of the company’s stock.

TC Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, September 29th will be given a C$0.88 dividend. This represents a $3.51 annualized dividend and a dividend yield of 6.1%. The ex-dividend date of this dividend is Tuesday, September 29th. TC Energy’s dividend payout ratio (DPR) is currently 104.98%.

Key TC Energy News

Here are the key news stories impacting TC Energy this week:

• Positive Sentiment: Coastal GasLink Phase 2 received a clear path to proceed. TC Energy backed the expansion after LNG Canada and its partners reached a positive final investment decision on LNG Canada Phase 2. The project is expected to nearly double Coastal GasLink’s capacity, with construction scheduled to begin in 2027, positioning TC Energy to benefit from increased Canadian natural-gas exports and long-term transportation revenue. Reuters article
• Positive Sentiment: LNG Canada’s expansion strengthens the project’s commercial rationale. The expansion is expected to double LNG Canada’s export capacity to approximately 28 million tonnes per annum, increasing demand for pipeline transportation from TC Energy’s Coastal GasLink system and supporting exposure to global LNG growth. Zacks article
• Positive Sentiment: Analyst sentiment remains supportive. TD Securities maintained its C$102 price target, while sell-side brokerages now rate TC Energy “Moderate Buy.” The company’s shares have also been described as potentially undervalued, although such valuation assessments are estimates rather than new operating results. TD Securities target article
• Neutral Sentiment: Near-term earnings expectations edged lower. Scotiabank reduced its FY2026 EPS estimate to C$2.70 from C$2.76 and its FY2027 estimate to C$2.82 from C$2.89, but retained an “Outperform” rating. The revisions may temper enthusiasm until the Coastal GasLink expansion begins contributing financially. Scotiabank forecast article

TC Energy Company Profile

TC Energy Corporation is an energy infrastructure company that develops and operates natural gas pipeline, storage and power-generation assets. Its pipeline network transports natural gas from producing regions to utilities, industrial customers, power generators and export markets, while its storage facilities help support seasonal and daily demand.

The company’s operations are concentrated in Canada, the United States and Mexico. Its major systems include the Canadian Mainline, which connects Western Canadian natural gas supplies with markets in Eastern Canada and the United States, as well as U.S.