FY2026 Earnings Estimate for TC Energy Issued By Scotiabank

Key Points

• Scotiabank cut its FY2026 EPS estimate for TC Energy to $3.88 from $3.92 but maintained an Outperform rating and a $93 price target, and also projects FY2027 EPS of $4.08 versus a market consensus of $3.55 for FY2026.
• TC Energy beat Q1 expectations with C$0.99 EPS and C$3.86 billion in revenue (net margin ~21.8%, ROE ~12.5%), and the board approved a C$1.5 billion Columbia Gas expansion that should add regulated rate‑base growth and medium‑term earnings visibility.
• Shares trade near C$90.63 (market cap ~C$94.4B, PE ~27.7) while analysts are mixed—six Buys and seven Holds—giving an average rating of "Hold" and a consensus target of C$84.67, suggesting limited near‑term upside.

TC Energy Co. (TSE:TRP - Free Report) NYSE: TRP - Investment analysts at Scotiabank cut their FY2026 earnings estimates for shares of TC Energy in a research report issued on Friday, May 1st. Scotiabank analyst R. Hope now forecasts that the company will post earnings per share of $3.88 for the year, down from their previous forecast of $3.92. Scotiabank has a "Outperform" rating and a $93.00 price target on the stock. The consensus estimate for TC Energy's current full-year earnings is $3.55 per share. Scotiabank also issued estimates for TC Energy's FY2027 earnings at $4.08 EPS.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP last announced its earnings results on Friday, May 1st. The company reported C$0.99 EPS for the quarter. The firm had revenue of C$3.86 billion for the quarter. TC Energy had a net margin of 21.83% and a return on equity of 12.53%.

TRP has been the topic of several other research reports. Royal Bank Of Canada boosted their price objective on shares of TC Energy from C$84.00 to C$92.00 and gave the stock an "outperform" rating in a report on Tuesday, February 17th. Canadian Imperial Bank of Commerce upgraded shares of TC Energy from a "neutral" rating to a "sector outperform" rating and boosted their price objective for the stock from C$85.00 to C$89.00 in a report on Thursday, April 23rd. Jefferies Financial Group boosted their price objective on shares of TC Energy from C$80.00 to C$88.00 in a report on Tuesday, February 17th. Raymond James Financial boosted their price objective on shares of TC Energy from C$74.00 to C$78.00 in a report on Monday, March 30th. Finally, ATB Cormark Capital Markets boosted their price objective on shares of TC Energy from C$80.00 to C$82.00 and gave the stock an "outperform" rating in a report on Thursday, April 23rd. Six analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of C$84.67.

TC Energy Stock Performance

Shares of TRP opened at C$90.63 on Monday. The company has a market capitalization of C$94.42 billion, a PE ratio of 27.72, a price-to-earnings-growth ratio of 1.69 and a beta of 0.76. TC Energy has a one year low of C$63.34 and a one year high of C$91.50. The company has a debt-to-equity ratio of 224.52, a current ratio of 0.65 and a quick ratio of 0.40. The company's fifty day moving average price is C$86.66 and its 200 day moving average price is C$79.81.

Insider Buying and Selling at TC Energy

In other news, insider Dawn Elizabeth De Lima sold 25,342 shares of TC Energy stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of C$88.73, for a total transaction of C$2,248,595.66. Following the sale, the insider directly owned 18,490 shares in the company, valued at approximately C$1,640,617.70. The trade was a 57.82% decrease in their position. Company insiders own 0.03% of the company's stock.

More TC Energy News

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

• Positive Sentiment: Q1 results beat consensus: TC Energy reported C$0.99 EPS and C$3.86B revenue with strong margins and ROE, which underpins near‑term cash flow and dividend support. TC Energy posts Q1 beat, approves $1.5B Columbia Gas expansion project
• Positive Sentiment: Board approves a C$1.5 billion Columbia Gas expansion — a sizable, regulated gas capital project that should add rate‑base growth and predictable returns over time. This supports medium‑term earnings visibility. TC Energy approves $1.5 billion Columbia Gas expansion after profit tops estimates
• Positive Sentiment: Renewed market focus from Keystone XL permit news and analyst upgrades is drawing attention to TC Energy’s valuation and potential upside if regulatory/permit developments continue. That can prompt re‑rating conversation among income investors. A Look At TC Energy’s Valuation As Keystone XL Permit And Analyst Upgrades Renew Market Focus
• Neutral Sentiment: Full earnings‑call transcript is available — useful for investors wanting management commentary on volumes, capital allocation, dividend policy and project timing but contains no surprise headlines. Review for details on guidance and cash‑flow assumptions. TC Energy Reports Q1 2026 Results: Full Earnings Call Transcript
• Neutral Sentiment: Company metrics (net margin ~23%, ROE ~12.8%) and reported volumes provide context for the beat but don’t change the capital‑intensive balance sheet profile. See the earnings release summary for the quarter. TC Energy Stock / Earnings Summary
• Negative Sentiment: US Capital Advisors reduced near‑term and FY2026/FY2027 EPS estimates (multiple quarter cuts), showing some analyst downward revision risk — this can cap upside until guidance or execution dispels concerns. (Research note summaries reported via market coverage.)

About TC Energy

TC Energy Corp operates as an energy infrastructure company, consisting of pipeline and power generation assets in Canada, the United States, and Mexico. Its pipeline network consists of over 92,600 kilometers (57,500 miles) of natural gas pipeline, along with 4,900 kilometers (3,000) miles) from the Keystone Pipeline system. The company also owns or has interests in 11 power-generation facilities with a capacity of 6,600 megawatts.

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