TC Energy (NYSE:TRP) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

TC Energy (NYSE:TRP) (TSE:TRP) posted its quarterly earnings data on Friday. The pipeline company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.02, Zacks reports. TC Energy had a net margin of 23.04% and a return on equity of 10.52%. The company had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same quarter last year, the firm posted $0.95 EPS.

Here are the key takeaways from TC Energy’s conference call:

• TC Energy reported a record quarter with > CAD 3 billion of comparable EBITDA (up 14% YoY) and reaffirmed its 2026 outlook of CAD 11.6–11.8 billion and 2028 target of CAD 12.6–13.1 billion.
• The company sanctioned the CAD 1.5 billion Appalachia Supply Project on Columbia Gas (0.8 BCF/d initial capacity on a 20‑year take‑or‑pay contract), expandable to 2 BCF/d, with an attractive build multiple and long‑term growth optionality.
• Bruce Power MCR execution is improving (Q1 availability 88%; full‑year low‑90s expected), with management forecasting ~CAD 1 billion annual free cash flow by 2032 and ~CAD 2 billion by 2035 as the program completes.
• Project backlog remains deep (roughly CAD 21–23 billion reported across secured, pending and origination buckets); management plans up to CAD 6 billion annual net capital deployment but says it may flex higher later in the decade while targeting a 4.75x leverage ratio.
• Regulatory/commercial progress includes settlements on the Canadian Mainline, ANR and Great Lakes largely in line with expectations and new agreements for Coastal GasLink phase two, which management says reduces execution and commercial risk and supports EBITDA visibility.

TC Energy Price Performance

TRP stock opened at $66.62 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.56 and a debt-to-equity ratio of 1.66. TC Energy has a one year low of $46.29 and a one year high of $67.31. The firm has a market capitalization of $69.40 billion, a PE ratio of 28.91 and a beta of 0.67. The firm has a 50-day moving average of $63.11 and a two-hundred day moving average of $57.79.

TC Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.8775 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.51 dividend on an annualized basis and a yield of 5.3%. TC Energy’s dividend payout ratio is currently 109.57%.

TC Energy News Summary

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

• Positive Sentiment: Q1 results beat estimates and operations described as strong—TC Energy reported quarterly earnings above consensus and highlighted strong U.S. and Canada operations, plus seven delivery records across North America; the company also approved a US$1.5 billion Columbia Gas expansion project that could support future volume and revenue growth. Press Release
• Positive Sentiment: Multiple outlets confirm the beat—third-party coverage (Zacks, Reuters, Globe and Mail) notes EPS topped consensus and attributes the outperformance to robust North American operations, reinforcing the credibility of the beat. Zacks: Q1 Earnings
• Neutral Sentiment: Management released supplemental materials and hosted a conference call and slide deck — useful for investors who want detail on guidance, segment performance and capital allocation. Slide Deck / Press Release
• Negative Sentiment: Analyst downgrades/estimate cuts — US Capital Advisors lowered EPS forecasts for several quarters and trimmed FY2026/FY2027 numbers, which could weigh on near-term expectations and multiple expansion. (reported April 27)
• Negative Sentiment: Unusual options activity — a spike in put buying (large increase vs typical volume) suggests some investors are hedging or expressing bearish sentiment ahead of/after the report, potentially increasing short-term downside pressure.

Institutional Trading of TC Energy

Hedge funds have recently bought and sold shares of the company. Advyzon Investment Management LLC purchased a new stake in TC Energy during the fourth quarter valued at about $219,000. Baird Financial Group Inc. purchased a new stake in shares of TC Energy in the second quarter worth approximately $205,000. Williams Jones Wealth Management LLC. purchased a new stake in shares of TC Energy in the fourth quarter worth approximately $203,000. Roehl & Yi Investment Advisors LLC purchased a new stake in shares of TC Energy in the fourth quarter worth approximately $202,000. Finally, Laurel Oak Wealth Management LLC purchased a new stake in shares of TC Energy in the fourth quarter worth approximately $201,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. BMO Capital Markets restated an “outperform” rating on shares of TC Energy in a research report on Tuesday, February 17th. Morgan Stanley restated an “overweight” rating on shares of TC Energy in a research report on Wednesday, January 28th. TD Securities lowered shares of TC Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Royal Bank Of Canada raised their price objective on shares of TC Energy from $84.00 to $92.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. Finally, Citigroup restated a “neutral” rating on shares of TC Energy in a research report on Thursday, February 19th. Eight investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $77.00.

TC Energy Company Profile

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.