TC Energy stock gains as Goldman Sachs upgrades it to Buy

Published on 10/05/2026 at 18:42 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

TC Energy stock carries a CAD 71.00 Goldman Sachs target dated October 2. The analyst average was CAD 96.29, while Q2 revenue reached CAD 3.96 billion.

TRP, CA87807B1076, Illustration mit AI erstellt.

TC Energy stock (ISIN CA87807B1076) was trading at CAD 85.16 on the Toronto Stock Exchange on October 5, 2026 at 12:41 p.m. ET, up 1.01 percent on the session. The immediate market focus is Goldman Sachs, which upgraded TC Energy from Hold to Buy and set a CAD 71.00 price target in a report dated October 2, 2026, according to MarketBeat.

Goldman Sachs changes its rating

The Goldman Sachs action stands apart from the price target itself. At CAD 71.00, the target is below the October 5 trading price, while the broader analyst view reported by MarketBeat shows a Moderate Buy consensus and an average target of CAD 96.29.

The same analyst roundup lists two Strong Buy ratings, nine Buy ratings and four Hold ratings. The average target stands 13.1 percent above CAD 85.16, using the October 5 Toronto price as the comparison point.

Q2 revenue rose 5.7 percent

TC Energy's latest reported quarter also supplies a stronger operating anchor. Second-quarter 2026 revenue rose 5.7 percent from the prior-year quarter to CAD 3.96 billion, while adjusted EPS increased from CAD 0.83 to CAD 0.95, according to Simply Wall St.

That combination matters because the company is investing for additional gas transportation demand while still carrying a capital-intensive infrastructure profile. The second-quarter figures give the rating debate a measurable earnings base rather than leaving it dependent only on long-term project assumptions.

Coastal GasLink adds capacity

On September 29, 2026, TC Energy announced that Coastal GasLink Phase 2 would proceed after LNG Canada and its joint venture participants reached a positive final investment decision. The company said the project will expand the existing 2.1 Bcf/d pipeline capacity through compressor stations and facility upgrades along the 670-kilometer route, according to TC Energy.

Construction is expected to begin in early 2027, with service anticipated in the early 2030s. The project therefore adds a long-dated growth component, while the current quote remains 15.0 percent below the 52-week high of CAD 100.18 and above the 52-week low of CAD 69.41.

TC Energy stock trades above CAD 85

TC Energy stock was last at CAD 85.16 on the Toronto Stock Exchange on October 5, 2026 at 12:41 p.m. ET. Its market capitalization was CAD 88.7 billion, with 1,971,210 shares traded.