TC Energy stock gets a Coastal GasLink expansion boost

Published on 10/06/2026 at 17:12 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

TC Energy stock is tied to a Coastal GasLink expansion after the September 29 LNG Canada decision. Q2 revenue rose 5.7 percent to CAD 3.96 billion.

TRP, CA87807B1076, Illustration mit AI erstellt.

TC Energy Corporation (ISIN CA87807B1076) was trading at USD 59.77 on the NYSE on October 6, 2026 at 11:11 a.m. ET, up 0.49 percent from USD 59.48. The company is advancing Coastal GasLink Phase 2 after a September 29, 2026 final investment decision on the LNG Canada expansion, giving its pipeline portfolio a fresh growth project.

Coastal GasLink expands capacity

According to TC Energy on September 29, 2026, Phase 2 will add compressor stations and upgrade the existing 670-kilometre route from Dawson Creek to the LNG Canada facility in Kitimat. The pipeline currently transports 2.1 Bcf/d, while construction is expected to begin in early 2027 and service is targeted for the early 2030s.

The commercial structure keeps Coastal GasLink as owner, operator and permit holder, with LNG Canada leading construction. That arrangement links the expansion to higher LNG export capacity while limiting the pipeline's direct construction exposure, a relevant distinction for investors assessing project execution.

Q2 revenue rises 5.7 percent

TC Energy's second-quarter 2026 figures provide the operating baseline for the project story. Simply Wall St reported CAD 3.96 billion of revenue for Q2 2026, up 5.7 percent from Q2 2025, while earnings per share increased to CAD 0.95 from CAD 0.83. Net income reached CAD 987.0 million, up 14 percent year over year.

Comparable EBITDA also rose 12 percent year over year in Q2 2026, and the company raised its 2026 outlook toward the upper end of its prior range, according to the same Q2 results coverage. The comparison matters because the pipeline expansion will be delivered against a business already showing higher earnings and cash-flow visibility.

Analysts see a divided valuation

MarketBeat reported on October 2, 2026 that Goldman Sachs upgraded TC Energy from Hold to Buy and set a CAD 71.00 price target. MarketBeat listed two Strong Buy, nine Buy and four Hold ratings, producing a Moderate Buy consensus and an average target of CAD 96.29.

The analyst picture therefore combines a recent upgrade with a wide gap between the single-house CAD 71.00 target and the broader CAD 96.29 consensus. The key counter-factor is execution: Phase 2 construction, regulatory work and long-term LNG demand all extend beyond the current reporting period.

TRP trades inside its yearly range

TRP was trading at USD 59.77 on October 6, 2026, between the NYSE session low of USD 59.20 and high of USD 60.01. The 52-week range is USD 49.27 to USD 71.47, and the market capitalization is USD 62.2 billion.