TC Energy stock: Higher outlook meets new Midwest projects
Published on 11/12/2026 at 16:29 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSOutlook And Project Pipeline
- TC Energy raised its 2026 comparable EBITDA outlook to 11.8 billion to 12.0 billion Canadian dollars.
- The company expects comparable EBITDA to grow by 5 to 7 percent annually through 2031.
- New Midwest pipeline projects are backed by long-term take-or-pay contracts and target rising power demand.
TC Energy reported stronger third-quarter results on Thursday, November 5, 2026, and raised its full-year outlook in a GlobeNewswire release. TC Energy stock traded at 58.23 euros on Lang & Schwarz at 16:13 CET on Thursday, November 12, 2026. The quote was 2.10 percent above the 57.03 euros reported at 17:00 CET on Tuesday, November 10.
Higher Guidance Extends Growth Visibility
Comparable EBITDA reached 3.004 billion Canadian dollars in the third quarter, compared with 2.654 billion Canadian dollars a year earlier. Comparable earnings rose to 983 million Canadian dollars, or 0.94 Canadian dollars per common share, from 805 million Canadian dollars, or 0.77 Canadian dollars per share.
The company now expects 2026 comparable EBITDA of 11.8 billion to 12.0 billion Canadian dollars, compared with its previous range of 11.6 billion to 11.8 billion Canadian dollars. Management also expects 2027 comparable EBITDA of 12.3 billion to 12.5 billion Canadian dollars and annual comparable EBITDA growth of 5 to 7 percent from 2026 through 2031.
New Projects Target Midwest Demand
TC Energy announced approximately 3 billion Canadian dollars of new growth projects. The Crossroads Expansion is designed to add 1.4 Bcf/d of capacity in the U.S. Midwest, while the American Midwest project would add another 1.0 Bcf/d. Both projects are supported by long-term take-or-pay contracts and are expected to enter service in 2030.
Coastal GasLink Phase 2 is also proceeding after a positive final investment decision by LNG Canada and its partners. The expansion is expected to add approximately 2.0 Bcf/d of firm transportation capacity. TC Energy said about 2.5 billion Canadian dollars of projects had entered service during the first nine months of 2026, while approximately 3.4 billion Canadian dollars is expected to enter service during the full year.
Execution Remains The Investor Test
The revised outlook rests on regulated assets, long-term contracts, operating performance and project execution. The company said projects placed into service from 2025 through 2026 year-to-date were delivered more than 10 percent under budget in aggregate.
TC Energy Corporation
- Company: TC Energy Corporation
- ISIN: CA87807B1076
- Ticker: TRP
- Primary exchanges: Toronto Stock Exchange and New York Stock Exchange
- Lang & Schwarz quote: 58.23 euros, November 12, 2026, 16:13 CET
- Change from November 10 report: 2.10 percent above 57.03 euros
- Sector: Energy infrastructure
Canadian shares remain part of a North American market shaped by energy demand, interest rates and infrastructure investment; see Current market reports.
For further company-specific coverage, see More news and analyses on TC Energy stock.
