TC Energy (TRP) News Today

TC Energy Corporation (NYSE: TRP; TSX: TRP) is receiving a meaningful growth catalyst from the approval of Coastal GasLink Phase 2, although lower earnings estimates and valuation concerns may be limiting the stock’s reaction. The company’s recent share-price weakness also leaves investors focused on whether the expansion can translate into stronger long-term cash flow.

• Positive Sentiment: Coastal GasLink Phase 2 is moving forward: TC Energy said the expansion will proceed after LNG Canada and its partners approved the LNG Canada Phase 2 expansion. Construction is expected to begin in 2027, with Coastal GasLink’s capacity nearly doubling to transport more Canadian natural gas to global LNG markets. TC Energy advances Coastal GasLink after LNG Canada decision
• Positive Sentiment: LNG Canada expansion strengthens demand visibility: Shell and its partners approved a project that would double LNG Canada’s export capacity to 28 million tonnes per annum, supporting additional long-term demand for TC Energy’s pipeline infrastructure. Shell Greenlights LNG Canada Phase 2, Doubling Export Capacity
• Positive Sentiment: Analyst support remains constructive: TD Securities maintained a C$102 price target, while sell-side brokerages collectively rated TC Energy “Moderate Buy.” These views suggest analysts see upside from the company’s contracted infrastructure and growth projects. TD Securities maintains C$102 target price
• Neutral Sentiment: Valuation remains debated: One analysis argues TC Energy may still be about 16% undervalued, supported by its natural-gas exposure, potential data-center demand and dividend yield. However, investors may require clearer evidence of returns from new projects before re-rating the stock. TC Energy backs Coastal GasLink Phase 2
• Negative Sentiment: Scotiabank reduced earnings forecasts: The firm lowered its FY2026 EPS estimate to $2.70 from $2.76 and FY2027 EPS estimate to $2.82 from $2.89, despite retaining an “Outperform” rating. The cuts could weigh on near-term sentiment and highlight execution, financing and cost pressures surrounding TC Energy’s capital program. Scotiabank forecast for TC Energy earnings