TSX:ASM News 26 January 2026

January 26, 2026, 9:07 AM EST. TC Energy (TSX:TRP) sees renewed focus on its preferred shares after completing a Series 5 to Series 6 conversion, reshaping its capital structure. The stock trades at CA$77.11, showing an 8.82% return over 90 days and over 100% total returns in five years. Analysts place its fair value at CA$79.18, slightly above current price, reflecting optimism tied to LNG export growth and electrification trends. However, concerns about climate policy tightening, project delays, and cash flow challenges temper expectations. A Discounted Cash Flow (DCF) model values TRP significantly lower at CA$52.82, suggesting some overvaluation. Investors weigh these divergent views as TC Energy prepares for a planned liquids pipeline spin-off and upcoming earnings announcements.