TC Energy Corp delivered a strong second quarter performance, surpassing earnings expectations and signaling robust operational growth.
In its recent earnings report for Q2 2026, TC Energy Corp (TRP.TO) impressed investors by posting earnings of $0.94 per share, beating analysts' estimates of $0.85 by a notable 10.59%. This marks the third earnings surprise in the last four quarters, highlighting the company's solid financial trajectory amid a dynamic energy sector.
Recent earnings trend
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TC Energy Corp
TRP.TO
TRP.TO
TC Energy Corp
WealthAwesomeMarket cap
$86.89B
P/E
23.8x
Div. yield
4.19%
Div. / share
$3.46
52W high
$98.71
52W low
$66.63
1W change
-1.01%
Beta
0.95
Analyst Price Targets
Based on analyst covering TRP · as of Oct 1, 2026
Wall Street analysts forecast TRP stock price to rise 19.6% over the next 12 months.
Consensus
BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$99.78
+19.6% Upside
Previously C$99.57 on Sep 21, 2026
Current Price
C$83.41
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on TRP's historical volatility
30-Day Vol
16.8%
Annualized
90-Day Vol
19.8%
Annualized
Trend (90d)
-50.0%
Annualized drift
90d Mean
C$69.77
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$78.59 | C$74.17 – C$83.27 |
| 60 trading days | C$74.05 | C$68.23 – C$80.36 |
| 90 trading days | C$69.77 | C$63.12 – C$77.12 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
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Analyst coverage: 12 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 3 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-09-30 | 2026-11-05 | — | 0.8300 | — |
| 2026-06-30 | 2026-07-29 | 0.9400 | 0.8500 | +10.6% |
| 2026-03-31 | 2026-05-01 | 0.9900 | 0.9700 | +2.1% |
| 2025-12-31 | 2026-02-13 | 0.9800 | 0.9100 | +7.7% |
| 2025-09-30 | 2025-11-06 | 0.7700 | 0.7800 | -1.3% |
| 2025-06-30 | 2025-07-31 | 0.8200 | 0.7800 | +5.1% |
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Investor takeaway: TC Energy's consistent ability to exceed earnings estimates reflects its effective operational management and strategic investments, particularly in natural gas infrastructure. Investors should note the company's positive outlook for the remainder of the year, driven by strong demand across various sectors.
Bull case
TC Energy's diverse portfolio and strong project backlog position it well for future growth. The recent approval of $3 billion in low-risk projects and solid EBITDA growth further boost confidence in TC Energy's long-term prospects.
Bear case
Despite the positive earnings report, uncertainties regarding regulatory frameworks and potential project delays could pose risks to future performance, especially with upcoming investments and changing market dynamics.
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