National Bank Financial Issues Positive Forecast for TC Energy (TSE:TRP) Stock Price

Key Points

• National Bank Financial raised TC Energy’s price target from C$102 to C$103 and maintained an “outperform” rating, implying 8.64% upside from the current price.
• Analyst sentiment remains mixed: six analysts rate the stock a Buy and nine rate it a Hold, resulting in a consensus “Hold” rating and an average price target of C$94.64.
• TC Energy shares fell 0.5% to C$94.81 despite reporting quarterly earnings of C$0.94 per share and revenue of C$3.96 billion; the company continues to carry substantial leverage, with a debt-to-equity ratio of 224.52.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP had its target price upped by research analysts at National Bank Financial from C$102.00 to C$103.00 in a research note issued on Friday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. National Bank Financial's price objective points to a potential upside of 8.64% from the stock's current price.

TRP has been the subject of several other research reports. Canadian Imperial Bank of Commerce raised their price objective on shares of TC Energy from C$89.00 to C$94.00 in a research note on Monday, May 4th. TD set a C$98.00 price objective on TC Energy and gave the company a "hold" rating in a report on Thursday, June 25th. Barclays upped their price objective on TC Energy from C$100.00 to C$102.00 and gave the company an "overweight" rating in a research report on Friday. The Goldman Sachs Group upgraded TC Energy from a "sell" rating to a "hold" rating and set a C$62.00 target price on the stock in a research note on Sunday, April 19th. Finally, Scotiabank lifted their target price on TC Energy from C$97.00 to C$105.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, July 21st. Six analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of C$94.64.

TC Energy Trading Down 0.5%

TSE TRP traded down C$0.50 on Friday, hitting C$94.81. 526,104 shares of the stock were exchanged, compared to its average volume of 5,005,519. The company has a debt-to-equity ratio of 224.52, a quick ratio of 0.40 and a current ratio of 0.65. TC Energy has a 52-week low of C$64.91 and a 52-week high of C$100.18. The firm has a market capitalization of C$98.77 billion, a P/E ratio of 29.72, a P/E/G ratio of 1.69 and a beta of 0.69. The stock has a fifty day moving average price of C$96.19 and a two-hundred day moving average price of C$89.13.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP last announced its earnings results on Thursday, July 30th. The company reported C$0.94 earnings per share for the quarter. The business had revenue of C$3.96 billion for the quarter. TC Energy had a net margin of 21.83% and a return on equity of 12.53%. Research analysts forecast that TC Energy will post 3.5490515 EPS for the current fiscal year.

Insider Buying and Selling

In other TC Energy news, insider Yvonne Frame-Zawalykut sold 1,500 shares of the firm's stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of C$98.39, for a total transaction of C$147,585.00. Also, Director Trevor Ebl sold 5,000 shares of TC Energy stock in a transaction on Friday, May 15th. The shares were sold at an average price of C$93.45, for a total value of C$467,250.00. 0.03% of the stock is currently owned by insiders.

Key TC Energy News

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

• Positive Sentiment: TC Energy exceeded second-quarter earnings expectations. The company reported C$0.94 in EPS and C$3.96 billion in revenue, with comparable earnings and revenue rising year over year. The results point to continued strength in its regulated pipeline and energy infrastructure operations. TC Energy posts Q2 earnings beat, approves $500M in pipeline expansion projects TC Energy Q2 Comparable Earnings, Revenue Rise
• Positive Sentiment: The company approved approximately $500 million in pipeline expansion projects. The investments could support future growth and improve long-term cash-flow visibility, which is particularly important for an infrastructure company with significant capital requirements. TC Energy posts Q2 earnings beat, approves $500M in pipeline expansion projects
• Positive Sentiment: US Capital Advisors raised its TC Energy earnings forecasts across multiple periods. Estimates increased for Q2 and Q3 2026, Q4 2026, full-year 2026, and 2027–2028. The firm now forecasts FY2026 EPS of $3.71, FY2027 EPS of $3.89 and FY2028 EPS of $3.99, versus previous estimates of $3.50, $3.64 and $3.69, respectively. The revisions signal greater confidence in the company’s earnings trajectory.
• Neutral Sentiment: Despite the favorable news, shares traded lower. The muted market reaction suggests investors may have already anticipated a strong quarter, or may be weighing TC Energy’s relatively high leverage and valuation against its improved growth outlook. The reported current ratio of 0.65 and debt-to-equity ratio above 200 also remain considerations for income-oriented investors.

About TC Energy

We are a leader in North American energy infrastructure, spanning Canada, the U.S. and Mexico. For over 75 years, we have proudly connected the world to the energy it needs. Every day, we move more than 30 per cent of the natural gas used across the continent and connect LNG exports to global markets-powering communities and industries. Complemented by strategic ownership and low-risk investments in power generation, our infrastructure delivers affordable, reliable and sustainable energy across North America.

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