TC Energy to Consolidate Preferred Shares Into Single Series 5 Issue

TC Energy ( (TSE:TRP) ) just unveiled an update.

TC Energy will consolidate its preferred share capital into a single listed series after determining that fewer than one million Series 6 floating rate preferred shares would remain outstanding following shareholder conversion elections. As a result, no Series 5 fixed rate shares will convert into Series 6, all existing Series 6 shares will be automatically exchanged into Series 5 on a one-for-one basis on January 30, 2026, leaving 14 million Series 5 shares outstanding, which will continue to trade on the TSX under TRP.PR.C and pay a fixed annual dividend rate of 4.501 per cent for the next five years, with future conversion opportunities every fifth year, affecting income-oriented investors and simplifying the company’s preferred share structure.

The most recent analyst rating on (TSE:TRP) stock is a Buy with a C$84.00 price target. To see the full list of analyst forecasts on TC Energy stock, see the TSE:TRP Stock Forecast page.

Spark’s Take on TSE:TRP Stock

According to Spark, TipRanks’ AI Analyst, TSE:TRP is a Outperform.

TC Energy’s overall stock score reflects strong earnings call performance and corporate events, which are the most significant factors. Financial performance is solid but challenged by high leverage and revenue decline. Technical analysis and valuation suggest moderate growth potential with attractive dividends.

To see Spark’s full report on TSE:TRP stock, click here.

More about TC Energy

TC Energy is a leading North American energy infrastructure company operating across Canada, the U.S. and Mexico, transporting over 30 per cent of the continent’s cleaner-burning natural gas and holding strategic, low-risk investments in power generation. Its network underpins industrial activity, supports LNG exports to global markets and delivers affordable, reliable and sustainable energy, with common shares trading on the Toronto and New York stock exchanges under the symbol TRP.

Average Trading Volume: 5,102,578

Technical Sentiment Signal: Buy

Current Market Cap: C$78.13B

For a thorough assessment of TRP stock, go to TipRanks’ Stock Analysis page.