TC Energy Corporation (TNCAF)
Energy · PNK
Price as at 1 Oct 2026, 02:45 UTC. Quotes are delayed.
Fundamentals
Valuation and ratings
TC Energy Corporation trades at $15.70, which is 37% below the $21.58 our fair value estimate puts on the business. On that measure alone it screens as undervalued, though a valuation model is an argument rather than a measurement, and the market is frequently right about why something is cheap.
Our moat model scores it 64 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 5.7 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
TNCAF dividend history
Dividends per share by year
| Year | Total per share | Payments |
|---|---|---|
| 2026 (year to date) | $0.545 | 3 |
| 2025 | $0.848 | 4 |
| 2024 | $1.18 | 4 |
| 2023 | $1.14 | 4 |
| 2022 | $0.581 | 4 |
| 2021 | $0.359 | 4 |
| 2020 | $0.499 | 4 |
| 2019 | $0.632 | 4 |
| 2018 | $0.554 | 4 |
| 2017 | $0.437 | 4 |
| 2016 | $0.107 | 1 |
Split-adjusted amounts in the listing currency, grouped by the calendar year of the ex-dividend date, from the filed record. Growth and streak figures compare complete years only.
About TC Energy Corporation
TC Energy Corporation operates as an energy infrastructure company in Canada, the United States, and Mexico. It operates through four segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; and Power and Energy Solutions. The company builds and operates a network of 94,171 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses. It also has regulated natural gas storage facilities with a total working gas capacity of 532 billion cubic feet. In addition, the company owns or has interests in power generation facilities with approximately 4,650 megawatts; and owns and operates approximately 118 billion cubic feet of non-regulated natural gas storage facilities in Alberta, Ontario, Québec, and New Brunswick. The company was formerly known as TransCanada Corporation and changed its name to TC Energy Corporation in May 2019. TC Energy Corporation was founded in 1951 and is headquartered in Calgary, Canada.
Company profile, industry and headcount are as reported by our data provider and can lag a company's own filings by a reporting period. The annual report is the authority.
TNCAF passes 4 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
TNCAF peers
The largest companies in the same industry (Oil & Gas Midstream), then in the same sector.
- ENB Enbridge Inc.
- EPD Enterprise Products Partners L.P.
- ET Energy Transfer LP
- MPLX MPLX LP
- VG Venture Global, Inc.
- PBA Pembina Pipeline Corporation
- PAA Plains All American Pipeline, L.P.
- AM Antero Midstream Corporation
Every energy company we cover is on the Energy hub.
Common questions
Is TC Energy Corporation (TNCAF) undervalued?
Against our fair value estimate of $21.58, TNCAF at $15.70 is 37% below fair value. That is one model's answer, not a recommendation. It is built from normalized earning power with growth capped deliberately low, which understates companies whose value is mostly future growth.
What is TNCAF's P/E ratio?
TNCAF trades at 5.7 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
Does TC Energy Corporation (TNCAF) pay a dividend?
Yes. TC Energy Corporation yields 5.00% at the current share price. It has paid $0.751 per share over the trailing twelve months. It has paid a dividend in each of the last 10 complete calendar years. A dividend is declared by the board and can be cut at any time; a yield is a fact about the current price, not a promise.
Where does SteadyShares get its TNCAF data?
Fundamentals for TNCAF come from company filings and exchange data, as listed on PNK; institutional ownership comes from SEC 13F filings. The share price shown was last refreshed on 1 Oct 2026, 02:45 UTC and is delayed. Our data quality score for this company is 100/100, which is the share of the inputs behind our scores that were actually available rather than assumed. Metrics we do not hold are left out of the page rather than estimated.
The full research page for TNCAF, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.