TC Energy

TRP

Market cap $67B

One 7% yielding monthly-paying investment is trading at one of its widest discounts in years. The other quietly yields over 9% and has been growing its payout for five years in a row. While I like both, they also come with risks to keep in mind.

TC Energy is now a focused natural gas and nuclear infrastructure play after its liquids pipeline spinoff, with record 2025 operational and financial results. TRP benefits from surging North American natural gas demand, controlling 30% of flows, and a unique nuclear asset via Bruce Power, supporting a low-risk, growth-oriented thesis. Despite premium valuation (P/E 24.99, EV/EBITDA 17.17), I see a justified utility-like multiple due to TRP's nuclear exposure and visible 5–7% EBITDA growth guidance through 2028.

TRP anticipates its 2026 comparable EBITDA to be between C$11.6 billion and C$11.8 billion, with net capex to be between C$5.5 billion and C$6 billion.

TC Energy Corporation (TRP:CA) Q4 2025 Earnings Call Transcript

TC Energy (TRP) came out with quarterly earnings of $0.7 per share, beating the Zacks Consensus Estimate of $0.65 per share. This compares to earnings of $0.75 per share a year ago.

CALGARY, Alberta, Feb. 13, 2026 (GLOBE NEWSWIRE) -- News Release -- TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) has today filed with Canadian securities authorities:

Strongest safety performance in five years drives 15 flow records and solid financial results Progress in commercial discussions strengthens line of sight to incremental project announcements in 2026 Raises dividend for 26th consecutive year CALGARY, Alberta, Feb. 13, 2026 (GLOBE NEWSWIRE) -- TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) released its fourth quarter and full-year 2025 results today. François Poirier, TC Energy's President and Chief Executive Officer commented, "Our safety-first culture is driving exceptional operational performance, leading to 15 flow records across our systems in 2025.

TRP is expected to deliver higher revenues in the fourth quarter; however, a lower bottom line is anticipated due to increased expenses.

TC Energy (TRP) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

We're in the early stages of a massive $85 trillion global infrastructure buildout, driven by AI, reshoring, and modernization. This capital rotation is fueling explosive demand for energy, power, and commodities—especially copper, silver, and natural gas. Old economy stocks—miners, energy, infrastructure, and equipment providers—are positioned for substantial re-rating and long-term alpha.