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TRP

TC Energy Corp

NYSE: TRP · ENERGY · OIL & GAS MIDSTREAM

$66.93
+4.64% today

Updated 2026-04-30

Market cap
$64.61B
P/E ratio
24.42
P/S ratio
4.24x
EPS (TTM)
$2.54
Dividend yield
5.59%
52W range
$44 – $65
Volume
2.6M
OverviewPrice TargetsFinancialsValuationInsidersEarnings

TC Energy Corp (TRP) Financial Forecast & Price Target 2030

Research-backed projections from analyst consensus, management guidance, and sector analysis.

Price target summary

Current
$66.93
Consensus
$76.67
+14.55%
2030 Target
$206.74
+208.89%
DCF
$44.64
-36.47% MoS
3 analysts:
1 Buy1 Hold3 Sell

Management guidance

TC Energy provided 2026 comparable EBITDA guidance of $11.6B-$11.8B (vs. ~$10.6B in 2025), implying mid-single-digit revenue growth. CEO François Poirier emphasized acceleration of Coastal GasLink Phase 2 and strategic expansion into renewable energy, with $8B+ projected backlog driving mid-term growth. Management raised dividend 3.2% for 26th consecutive year, signaling confidence in cash generation through 2026-2028.

Sources: Management guidance, analyst consensus, sector analysishigh confidence

Revenue & price projection

Actual revenue Projected revenue Base case Bull to bear range
Bull case (2030)
$350.84
$18.4B Rev × 20x P/S
Base case (2030)
$206.74
$18.4B Rev × 12x P/S
Bear case (2030)
$137.83
$18.4B Rev × 8x P/S

Financial forecast — research-backed

Metric2023202420252026 (E)2027 (E)2028 (E)2029 (E)2030 (E)
Revenue$13.3B$13.8B$15.2B$16.4B$16.7B$17.2B$17.8B$18.4B
Revenue growth—3.8%10.3%7.3%2.2%2.9%3.2%3.5%
EPS$4.52$3.97$3.03$3.71$3.90$4.15$4.42$4.72
P/S ratio———12.0x12.0x12.0x12.0x12.0x
Implied price———$187.95$187.95$194.22$200.48$206.74

Catalysts & risks

Growth catalysts
+ Coastal GasLink Phase 2 expansion with LNG Canada agreements (construction manager model reduces capex burden)
+ Global LNG supply disruptions creating sustained demand for Canadian natural gas exports through 2030
+ Contracted backlog of $8B+ providing near-certain revenue visibility through 2027-2028
+ Renewable energy strategic initiatives and modernization of existing pipeline network
+ Dividend growth trajectory: 26 consecutive increases signals management confidence in stable, growing cash flows
Key risks
- Regulatory delays in Canada: CEO cited prolonged permitting timelines as competitive disadvantage vs. U.S./Mexico
- Commodity price volatility: NatGas demand subject to global supply/demand shocks; LNG prices impact utilization rates
- Energy transition risk: Long-term demand uncertainty for fossil fuel infrastructure despite near-term tailwinds
- High leverage (Debt/Equity 2.22x): Rising interest rates pressure margins; dividend sustainability at high payout ratio (104%)
- Analyst divergence: Goldman Sachs maintains 'Strong Sell' at $53 vs. RBC 'Buy' at $92—35% target range indicates consensus weakness

Methodology

TC Energy Corp's forward estimates are derived from AI-powered research synthesis combining analyst consensus from 3 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts from industry research. Revenue and EPS projections use analyst consensus where available and conservative extrapolation with growth deceleration for outer years. Price targets are calculated using a tiered Price-to-Sales (P/S) methodology, where the P/S multiple is determined by the projected revenue growth rate.

WallStSmart proprietary research model · Not financial advice · Past performance is not indicative of future results · Last researched: April 7, 2026.