TC Energy Corporation (TNCAF)
Energy · PNK
Fundamentals
Valuation and ratings
TC Energy Corporation trades at USD14.45, which is 49% below the USD21.58 our discounted cash flow model puts on the business. On that measure alone it screens as undervalued, though a DCF 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) | USD0.365 | 2 |
| 2025 | USD0.860 | 4 |
| 2024 | USD1.20 | 4 |
| 2023 | USD1.16 | 4 |
| 2022 | USD0.589 | 4 |
| 2021 | USD0.364 | 4 |
| 2020 | USD0.506 | 4 |
| 2019 | USD0.641 | 4 |
| 2018 | USD0.562 | 4 |
| 2017 | USD0.443 | 4 |
| 2016 | USD0.109 | 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.
TNCAF passes 4 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Common questions
Is TC Energy Corporation (TNCAF) undervalued?
Against our discounted cash flow estimate of USD21.58, TNCAF at USD14.45 is 49% below fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
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 USD0.775 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.
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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.