TC Energy stock gets higher 2026 outlook after Q3 results

TC Energy reported stronger third-quarter results on Thursday, November 5, 2026, and lifted its 2026 comparable EBITDA outlook. The company said comparable EBITDA rose to 3.0 billion Canadian dollars from 2.7 billion Canadian dollars a year earlier, while comparable earnings increased to 1.0 billion Canadian dollars, or 0.94 Canadian dollars per share, from 0.8 billion Canadian dollars, or 0.77 Canadian dollars.

The release from TC Energy said net income attributable to common shares reached 1.026 billion Canadian dollars, compared with 813 million Canadian dollars in the third quarter of 2025. Segmented earnings rose to 2.262 billion Canadian dollars from 1.928 billion Canadian dollars. The comparable figures are non-GAAP measures and are not standardized under accounting rules.

Higher Guidance And Capital Plans

TC Energy now expects 2026 comparable EBITDA of 11.8 billion to 12.0 billion Canadian dollars, up from its previous range of 11.6 billion to 11.8 billion Canadian dollars. The company expects 2027 comparable EBITDA of 12.3 billion to 12.5 billion Canadian dollars and forecasts comparable EBITDA growth of 5 to 7 percent annually from 2026 through 2031.

Capital spending for 2026 is expected at the lower end of the 6.0 billion to 6.5 billion Canadian dollar range before non-controlling interests, or 5.5 billion to 6.0 billion Canadian dollars on a net basis. TC Energy said projects placed in service from 2025 through the first nine months of 2026 were delivered more than 10 percent under budget in aggregate.

Management pointed to operational performance, commercial settlements and projects entering service ahead of schedule as drivers of the revised outlook. About 98 percent of comparable EBITDA comes from rate-regulated assets or long-term take-or-pay contracts, according to the company.

Gas Projects Expand Growth Pipeline

TC Energy announced about 3 billion Canadian dollars of new growth projects. The Crossroads Expansion is designed to add 1.4 billion cubic feet per day of capacity in the U.S. Midwest, while the American Midwest project would add 1.0 billion cubic feet per day. Both projects are supported by 20-year take-or-pay contracts and are expected to enter service in 2030.

The company also approved the Coastal GasLink Phase 2 expansion after LNG Canada and its partners reached a positive final investment decision. The project is expected to add about 2.0 billion cubic feet per day of firm transportation capacity, with construction scheduled to begin in early 2027 and service targeted for the early 2030s. TC Energy said its capital commitments and exposure to construction cost and schedule risk are limited under the project structure.

TC Energy stock traded at 56.19 euros on Lang & Schwarz at 14:40 CET on Friday, November 6, 2026. Investors can follow the real-time quote of TC Energy stock.

The board declared a quarterly dividend of 0.8775 Canadian dollars per common share for the quarter ending December 31, 2026. The dividend is payable on January 29, 2027, to shareholders of record at the close of business on December 31, 2026.

Canada's broader market context can be followed through the S&P/TSX Composite.

Further news and analyses on TC Energy stock remain relevant as the company advances its approved projects and reports progress against its longer-term growth plan.

TC Energy stock facts

• Company: TC Energy Corporation
• ISIN: CA87807B1076
• Tickers: TRP on TSX and NYSE
• Latest quote: 56.19 euros on Lang & Schwarz, November 6, 2026, 14:40 CET
• Third-quarter comparable EBITDA: 3.0 billion Canadian dollars
• 2026 comparable EBITDA outlook: 11.8 billion to 12.0 billion Canadian dollars
• Quarterly dividend: 0.8775 Canadian dollars per common share