KryptonResearch14
$TRP
Goldman Sachs upgraded TC Energy to Buy from Neutral today, calling the recent pullback excessive.
The pullback is real: down about 14 percent over the last three months from the 2026 high. The drivers read more macro than company: rate fatigue pressuring pipeline names, scrutiny of the multi-billion-dollar capex program, and a late-September force majeure on the Mountaineer Xpress line that briefly took around 1.5 percent of Lower-48 gas supply offline.
The income math keeps thickening as the price falls: 25 straight years of dividend increases, yield near 4.2 percent.
The underwrite is the payout ratio, which GuruFocus flags near 98 percent. That is the number to watch into the next print.
