Reuters·2d ago
TC Energy to unveil NGTL expansion plan in December, CEO saysTC Energy to unveil NGTL expansion plan in December, CEO says
TC Energy's post-divestiture revenue rebound to $4.1B in 2025Q4 and sustained gross margins above 48% underscore a resilient core midstream franchise, yet the balance sheet reveals a concerning trajectory: debt-to-equity climbed to 1.70 and retained earnings remain negative at -$5.9B.
Price trend, volume and key moving averages
Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue rebounded 199.4% in 2025Q4 to $4.1B after a divestiture-driven dip, with gross margins averaging 50.4% over the last four quarters, indicating strong pricing power despite earnings volatility (net margin ranged from 17.2% to 73.5%).
TRP's trailing and forward P/E ratios of 22.59 and 21.64 respectively indicate reasonable valuation relative to earnings.
Multiple bullish theses on TC Energy Corporation have been highlighted by Beat the TSX and DividendInvestor, suggesting positive sentiment among analysts.
TRP's share price was trading at $59.91 as of February 5th, reflecting stability and investor confidence.
Trailing total returns as of 11/7/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q4 2026Latest Nov 5, 2026 | $0.67+4.7% vs $0.64 | — vs $2.8B |
Q3 2026 Jul 30, 2026 | $0.68+11.5% vs $0.61 | $2.8B+0.6% vs $2.8B |
Q2 2026 May 1, 2026 | $0.62-11.9% vs $0.70 | $3.0B+5.2% vs $2.9B |
Q1 2026 Feb 13, 2026 | $0.70+7.7% vs $0.65 | $3.0B+1.8% vs $3.0B |
TC Energy to unveil NGTL expansion plan in December, CEO says
TC Energy (TRP) came out with quarterly earnings of $0.67 per share, beating the Zacks Consensus Estimate of $0.64 per share. This compares to earnings of $0.56 per share a year ago.
Revising 2026 outlook higher and extending to a five-year outlook through to 2031 Announced approximately $3 billion of new growth projects
Canadian Natural, ConocoPhillips, TC Energy and Targa Resources are set to report their third-quarter earnings tomorrow.
Benchmark TRP against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for TC Energy Corporation (TRP)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $61.92 | $64.46B | 26.62 | 10.29% | 23.15% | 9.35% | 3.87% | |
| $46.89 | $102.39B | 20.35 | 21.92% | 7.35% | 8.39% | 7.82% | |
| $29.96 | $66.71B | 21.87 | 12.45% | 19.64% | 11.02% | 3.91% | |
| $64.08 | $78.37B | 29.94 | 13.78% | 25% | 18.66% | 3.12% | |
| $20.16 | $69.37B | 14.93 | -0.05% | 5.57% | 11.82% | 6.42% | |
| $37.03 | $80.12B | 13.92 | -6.44% | 10.24% | 21.41% | 5.77% |
TC Energy Corporation (TRP) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Get notified when TRP posts new earnings or crosses analyst targets
Free. No account needed. Unsubscribe any time.
TC Energy Corporation (TRP) stock FAQ — growth, dividends, profitability & financials explained
TC Energy Corporation (TRP) reported $16.01B in revenue over the trailing twelve months. Revenue was $15.19B in fiscal year 2025. That is 28% less than the $21.16B of fiscal year 2000.
TC Energy Corporation (TRP) grew revenue by 10.3% in fiscal year 2025, compared with the prior fiscal year.
Yes. TC Energy Corporation (TRP) earned $3.60B in net income over the trailing twelve months (a 22.5% net margin).
Yes. TC Energy Corporation (TRP) pays a dividend that yields 3.87% at the current price, a moderate yield.
TC Energy Corporation (TRP) had a return on equity (ROE) of 9.3% in fiscal year 2025. That is below the market's typical 10-15%.
TC Energy Corporation (TRP) generated $3.64B in free cash flow over the trailing twelve months.
