National Bank Financial Downgrades TC Energy (NYSE:TRP) to Hold

TC Energy (NYSE:TRP) (TSE:TRP) was downgraded by equities research analysts at National Bank Financial from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

TRP has been the topic of a number of other research reports. TD Securities lowered TC Energy from a “buy” rating to a “hold” rating in a report on Tuesday. Royal Bank Of Canada increased their price target on TC Energy from $84.00 to $92.00 and gave the stock an “outperform” rating in a report on Tuesday. Weiss Ratings restated a “buy (b-)” rating on shares of TC Energy in a research report on Monday, December 29th. Canadian Imperial Bank of Commerce lowered shares of TC Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Finally, Scotiabank reiterated an “outperform” rating on shares of TC Energy in a report on Tuesday. Seven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $72.50.

TC Energy Trading Down 0.9%

Shares of TC Energy stock opened at $61.68 on Tuesday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.56 and a current ratio of 0.63. TC Energy has a fifty-two week low of $43.59 and a fifty-two week high of $63.94. The firm has a 50-day simple moving average of $56.65 and a two-hundred day simple moving average of $53.84. The company has a market cap of $64.22 billion, a P/E ratio of 26.54 and a beta of 0.73.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Friday, February 13th. The pipeline company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.94 billion. TC Energy had a return on equity of 10.52% and a net margin of 23.04%.During the same period in the prior year, the company posted $1.05 EPS. As a group, equities analysts predict that TC Energy will post 2.63 earnings per share for the current fiscal year.

Institutional Trading of TC Energy

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in TC Energy by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 47,801,695 shares of the pipeline company’s stock valued at $2,632,200,000 after acquiring an additional 980,221 shares during the last quarter. Capital Research Global Investors raised its stake in 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 buying an additional 1,041,864 shares in the last quarter. FIL Ltd raised 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 worth $1,558,669,000 after purchasing an additional 1,052,166 shares during the period. Canada Pension Plan Investment Board raised its position in shares of TC Energy by 5.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 20,986,748 shares of the pipeline company’s stock worth $1,025,220,000 after purchasing an additional 1,178,190 shares during the period. Finally, TD Asset Management Inc grew its position 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 worth $1,150,656,000 after acquiring an additional 1,244,525 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

Key Stories Impacting TC Energy

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

• Positive Sentiment: Q4 results beat consensus, dividend was raised and management issued 2026 comparable EBITDA and capex guidance (C$11.6–11.8B EBITDA; C$5.5–6.0B capex), which supports fundamentals and the dividend story. TC Energy Q4 Earnings & Revenues Surpass Estimates, Dividend Raised
• Positive Sentiment: Major broker support and higher targets: Morgan Stanley nudged its target to C$93 and other brokers have set targets materially above the U.S. quote (one report cites an $84 PT), providing upside from current levels. Morgan Stanley Lifts TC Energy Target to C$93 Brokerages Set TC Energy PT at $84.00
• Positive Sentiment: Media and analysis pieces are bullish on TRP’s natural gas exposure and technical strength (relative strength rating rising to ~83), which can attract momentum and income‑seeking buyers. TC Energy: A Great Natural Gas Play Stocks to watch: RS rating jump to 83
• Neutral Sentiment: Raymond James moved its rating to “hold” (an upgrade to hold), which is a mixed message — not bearish but reduces immediate buy-side conviction. Raymond James upgrades to hold
• Negative Sentiment: Several Canadian brokers (CIBC, National Bank Financial, TD Securities) downgraded TRP to “hold” from stronger ratings (strong-buy/buy → hold). Clustered downgrades are weighing on sentiment and likely the main reason for the intraday weakness. CIBC downgrades TC Energy National Bank Financial downgrade TD Securities downgrades TRP

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.