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TC Energy Corp TRP

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Stock XTSE Rating as of
CAD 52.56 +0.75 (1.45%)
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As of Delayed Price Closed
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Company Report

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Finding Undervalued Opportunities From AI and Data Center Demand in E&Ps and Midstream

Stephen Ellis

We think AI and data center demand offers a potentially sizable growth opportunity across our US E&P and US & Canadian midstream coverage list. We consider Chart Industries, Energy Transfer, Enbridge, Kinder Morgan, and TC Energy as undervalued ways to play this trend. Cheniere Energy and Williams are more fairly valued, while Antero, Range, and likely EQT (not covered) are obvious direct opportunities and appear expensive.

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Price vs Fair Value

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TRP is trading at a 127% premium.
Price
CAD 52.56
Fair Value
CAD 41.00
Uncertainty
Medium
1-Star Price
CAD 91.25
5-Star Price
CAD 48.50
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

TC Energy has strong growth opportunities in Mexican natural gas as well as liquefied natural gas.

Bears

The firm is still expected to rely on capital markets for about 20% of its spending program, while Canadian and US peers are already generating free cash flow after dividends.

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News

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Trading Information

Previous Close Price
CAD 51.81
Day Range
CAD 51.71–52.59
52-Week Range
CAD 43.70–55.91
Bid/Ask
CAD 52.21 / CAD 52.59
Market Cap
CAD 54.53 Bil
Volume/Avg
6.0 Mil / 7.2 Mil

Key Statistics

Price/Earnings (Normalized)
12.28
Price/Sales
3.34
Dividend Yield (Trailing)
7.24%
Dividend Yield (Forward)
7.41%
Total Yield
7.20%

Company Profile

TC Energy operates natural gas, oil, and power generation assets in Canada and the United States. The firm operates more than 60,000 miles of oil and gas pipelines, more than 650 billion cubic feet of natural gas storage, and about 4,300 megawatts of electric power.
Sector
Energy
Industry
Oil & Gas Midstream
Stock Style Box
Large Value
Total Number of Employees
7,415
Website
https://www.tcenergy.com

Competitors

Valuation

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Metric
TRP
PPL
WMB
Price/Earnings (Normalized)
 12.2816.7321.32
Price/Book Value
 1.982.034.08
Price/Sales
 3.343.274.79
Price/Cash Flow
 7.319.928.64
Price/Earnings
TRP
PPL
WMB

Financial Strength

Metric
TRP
PPL
WMB
Quick Ratio
 0.580.920.37
Current Ratio
 0.941.030.52
Interest Coverage
 2.425.564.05
Quick Ratio
TRP
PPL
WMB

Profitability

Metric
TRP
PPL
WMB
Return on Assets (Normalized)
 2.80%5.68%4.89%
Return on Equity (Normalized)
 11.49%13.34%20.70%
Return on Invested Capital (Normalized)
 5.26%8.03%8.53%
Return on Assets
TRP
PPL
WMB
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Oil & Gas Midstream Industry Comparables

Screen in Investor
Ticker
Name
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
ENB
Enbridge IncDrkvslndWxyhcp$75.8 Bil
EPD
Enterprise Products Partners LPNscjtvjqbwZkdkm$61.9 Bil
ET
Energy Transfer LPPvxbhPdyc$52.8 Bil
WMB
Williams Companies IncKcttfjbdFjlksjj$50.6 Bil
OKE
ONEOK IncDhrrqfpgpQfdsvd$47.3 Bil
KMI
Kinder Morgan Inc Class PMdvgythntZmvpcy$42.0 Bil
MPLX
MPLX LP Partnership UnitsGgnvnpddNjsxbxy$41.6 Bil
TRP
TC Energy CorpVdvbnpnLzdqcy$39.8 Bil
LNG
Cheniere Energy IncKfwfxybWzmqp$36.1 Bil
TRGP
Targa Resources CorpWdtyprpCvv$25.4 Bil

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