TC Energy Corp (TRP)

Natural Gas Transmission

Latest Price

$57.78

TTM P/E

17.67

Normalized P/E

17.67

Div Yield

5.88%

Book Value

P/B Ratio

Valuation metrics

EPS: $3.27

Book value / share: $26.22

Formula: √(22.5 × EPS × BVPS)

Graham Number

$43.92

24% downside

Norm. op. income: $6.6B (median of 7yr)

Tax rate: 16%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$50.85

12% downside

EPS: $3.27

Target P/E: 15×

Formula: EPS × P/E

P/E Fair Value

$49.05

15% downside

56.9% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
Capital Research Global Investors	43.52M	$2.88B	4.18%	-1.32M	2026-06-30
Bank of Montreal	37.63M	$2.49B	3.61%	-17.06M	2026-06-30
Vanguard Capital Management LLC	29.94M	$1.98B	2.88%	+441.2K	2026-06-30
FIL Ltd	27.89M	$1.85B	2.68%	+877.3K	2026-06-30
Goldman Sachs Group Inc	21.17M	$1.40B	2.03%	+5.09M	2026-06-30
1832 Asset Management L.P.	20.50M	$1.36B	1.97%	-1.54M	2026-06-30
Canada Pension Plan Investment Board	17.36M	$1.15B	1.67%	-162.9K	2026-06-30
GQG Partners LLC	16.74M	$1.11B	1.61%	-210.3K	2026-06-30
TD Asset Management Inc	16.13M	$1.07B	1.55%	-5.55M	2026-06-30
CIBC World Market Inc.	16.08M	$1.06B	1.54%	+594.6K	2026-06-30