Can TC Energy (TRP) Stock Reach $73?

Key Takeaways

• The central stock price target used here is $73, the average of recent, individually attributed analyst price targets that sit above the current share price.
• TRP last closed near $64.50, so reaching $73 requires a gain of roughly 13%.
• The broad analyst range is wide, roughly $59 to $76; the overall average across all tracked targets sits near $68, only about 5% above the market.
• The strongest supports are steady fee-based natural gas and power cash flows, a dividend yield near 4%, and a string of late-2026 target increases.
• The biggest risks are valuation compression in a rate-sensitive utility-like stock, project execution, and the fact that $73 sits above the stock's 52-week high.
• For more context on the company's developments, you can review Major News, Today's Price Move, the AI-driven Forecast, and Earnings pages.
• To see which automated strategies are drawing attention, explore Trending AI Robots.

Analyst Price Targets and Consensus View

TC Energy Corporation (TRP), formerly TransCanada, is a North American energy infrastructure company focused on natural gas pipelines, storage, and power generation. Across the full group of roughly two dozen analysts tracked by S&P Global, the average one-year target sits near $68, implying only about 5% upside, with a broad range from roughly $59 to $76.

Because that overall average is only modestly above the market, this analysis focuses on the analyst price targets above the current price. The most recent individually attributed targets above the market — $72 from Goldman Sachs (October 19, 2026) and ATB Capital Markets (October 23, 2026), $73 from J.P. Morgan (October 22, 2026), $74 from CIBC (October 22, 2026), and $76 from RBC Capital (October 22, 2026) — average about $73. That is the central target used here.

Bullish analysts emphasize a durable growth pipeline and improving returns, which drove upgrades from BMO Capital and CIBC after the third-quarter 2025 report and a Goldman Sachs upgrade to Buy in October 2026. Cautious voices point to a fully valued multiple; Morgan Stanley moved to Equal Weight in June 2026. The wide spread between the lowest and highest targets reflects genuine disagreement about how much growth is already priced in.

Current Market Position and Path Toward the Target

At a last close near $64.50, reaching $73 requires upside of roughly 13% — a substantial move for a large, dividend-paying infrastructure name. The shares trade on a forward P/E (price-to-earnings ratio) near 24 with a dividend yield around 3.9%, reflecting a valuation more typical of a regulated utility than a pure commodity producer.

The path would likely depend on continued delivery of the company's three-year outlook, stable interest rates, and investor appetite for defensive yield. With the 52-week range at roughly $49 to $71, a move to $73 would also require the stock to break decisively above its prior high — a technical hurdle as much as a fundamental one.

What Could Support a Move Toward the Target

• Fee-based earnings mix: The natural gas pipeline and power portfolio generates largely regulated or contracted cash flow, supporting the dividend and earnings stability.
• Growth outlook: Management extended its three-year financial outlook to 2028, and analysts have repeatedly raised targets on project execution.
• Rising demand: Growing natural gas demand for power generation, LNG (liquefied natural gas) exports, and data-center electrification supports pipeline utilization.
• Positive revisions: Late-2026 target increases and a Goldman Sachs upgrade to Buy suggest improving sentiment.

What Could Prevent the Target From Being Reached

• Valuation: At a forward P/E near 24, the stock is no longer cheap; multiple compression could offset earnings growth.
• Interest rates: As a yield-oriented name, TRP tends to be sensitive to bond yields; higher rates raise the bar for infrastructure equities.
• Execution risk: Large capital projects and regulatory approvals in Canada, the U.S., and Mexico carry cost and timing risks.
• Technical resistance: The $71–$72 area marks the prior 52-week high and could act as a resistance level.

Technical Levels and Market Structure

The stock has climbed about 28% over the past year and trades roughly 10% below its 52-week high near $71.47. That prior high is the key resistance level, with a psychological hurdle near $75 above it. On the downside, the $62–$63 zone has served as recent support, with the 52-week low near $49 as a longer-term floor. The overall trend remains upward, but the $73 target sits above the established trading range, meaning it would require a confirmed breakout rather than a move within recent boundaries.

Time Horizon and What Investors Should Monitor

Analyst price targets typically reflect a roughly 12-month research horizon, though individual firms rarely state a precise date. Investors should watch the next earnings report, scheduled for November 5, 2026, along with management's updated guidance, capital-spending plans, and any changes to the dividend. Interest-rate decisions, natural gas demand trends, regulatory rulings, and further analyst revisions will also matter, as these targets are frequently adjusted after each quarterly update.

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Final Assessment

Can TC Energy (TRP) stock reach $73? The target is attainable in scale — roughly 13% above the last close — but it is not a given. It reflects the average of recent analyst targets above the current price rather than a formal consensus, and it sits above the stock's 52-week high. Support comes from stable fee-based cash flow, a near-4% dividend, and positive revisions, while valuation, rate sensitivity, and technical resistance at the prior high are the main obstacles. The November earnings report, guidance, and the interest-rate backdrop will be the clearest near-term signposts. No price target should be read as a guarantee, and investors should weigh both the upside and the risks independently.

Disclaimer

The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer.

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