What is Scotiabank's Forecast for TC Energy FY2026 Earnings?

Key Points

• Scotiabank trimmed its FY2026 EPS estimate for TC Energy to $2.85 (from $2.87) while maintaining an Outperform rating; the Street consensus is $2.76.
• TC Energy reported Q1 EPS of $0.72, beating estimates by $0.02, but revenue of $2.04 billion missed the $2.20 billion consensus.
• The company declared a quarterly dividend of $0.8775 (annualized $3.51) for a ~5.3% yield with a payout ratio of 109.6%, and analysts' consensus is a Moderate Buy with an average price target of $78.50.

TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP - Research analysts at Scotiabank dropped their FY2026 earnings per share estimates for shares of TC Energy in a research note issued to investors on Friday, May 1st. Scotiabank analyst R. Hope now forecasts that the pipeline company will post earnings of $2.85 per share for the year, down from their prior estimate of $2.87. Scotiabank currently has a "Outperform" rating on the stock. The consensus estimate for TC Energy's current full-year earnings is $2.76 per share.

Several other analysts have also recently issued reports on the company. TD Securities reissued a "hold" rating on shares of TC Energy in a research note on Monday. Wall Street Zen raised TC Energy from a "sell" rating to a "hold" rating in a research note on Saturday, February 14th. Wells Fargo & Company reissued an "overweight" rating on shares of TC Energy in a research note on Monday, February 16th. The Goldman Sachs Group raised TC Energy from a "sell" rating to a "neutral" rating and raised their target price for the stock from $53.00 to $62.00 in a research note on Monday, April 20th. Finally, Weiss Ratings raised TC Energy from a "buy (b)" rating to a "buy (b+)" rating in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $78.50.

TC Energy Stock Down 0.8%

NYSE TRP opened at $66.04 on Tuesday. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.63 and a quick ratio of 0.56. The stock has a market capitalization of $68.80 billion, a PE ratio of 28.66 and a beta of 0.67. TC Energy has a 1 year low of $46.29 and a 1 year high of $67.31. The business's 50-day moving average is $63.11 and its 200 day moving average is $57.83.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.02. The company had revenue of $2.04 billion for the quarter, compared to analysts' expectations of $2.20 billion. TC Energy had a return on equity of 10.77% and a net margin of 22.22%.During the same period last year, the firm earned $0.95 earnings per share.

Hedge Funds Weigh In On TC Energy

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of TC Energy by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 47,801,695 shares of the pipeline company's stock valued at $2,632,200,000 after purchasing an additional 980,221 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of TC Energy by 2.5% during the third quarter. Capital Research Global Investors now owns 41,977,582 shares of the pipeline company's stock valued at $2,282,469,000 after purchasing an additional 1,041,864 shares during the last quarter. FIL Ltd lifted its holdings in shares of TC Energy by 3.9% during the fourth quarter. FIL Ltd now owns 28,305,789 shares of the pipeline company's stock valued at $1,558,669,000 after purchasing an additional 1,052,166 shares during the last quarter. TD Asset Management Inc lifted its holdings in shares of TC Energy by 6.3% during the fourth quarter. TD Asset Management Inc now owns 20,868,772 shares of the pipeline company's stock valued at $1,150,656,000 after purchasing an additional 1,244,525 shares during the last quarter. Finally, GQG Partners LLC lifted its holdings in shares of TC Energy by 586.5% during the fourth quarter. GQG Partners LLC now owns 16,154,469 shares of the pipeline company's stock valued at $890,711,000 after purchasing an additional 13,801,371 shares during the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

TC Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a dividend yield of 5.3%. The ex-dividend date is Tuesday, June 30th. TC Energy's dividend payout ratio (DPR) is presently 109.57%.

About TC Energy

TC Energy NYSE: TRP is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company's principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.

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