Side by sideEnbridge (ENB.TO) and TC Energy (TRP.TO)Memos of October 20, 2026 and October 13, 2026
Enbridge vs TC Energy stock: the numbers side by side (October 2026)
How do Enbridge and TC Energy compare?
| Enbridge ENB.TO | TC Energy TRP.TO | |
|---|---|---|
| Revenue growth | 21.9%2025 | 10.7%2025 |
| Operating margin | 16.8%2025 | 52.7%2025 |
| Free cash flow | 3,243C$ millions · 2025 | 2,245C$ millions · 2025 |
| Free cash flow yield | 2.2%Today (Oct 20, 2026) | 2.5%Today (Oct 13, 2026) |
| Dividend yield | 5.8%Today (Oct 20, 2026) | 4.0%Today (Oct 13, 2026) |
| P/E, last 12 months | 25.7xToday (Oct 20, 2026) | 24.9xToday (Oct 13, 2026) |
| P/E, next 12 months | 21.0xToday (Oct 20, 2026) | 22.3xToday (Oct 13, 2026) |
| Weighted price forecast, about 1 year | 58.75 (-6 %)October 2027 | 92.23 (+9 %)October 2027 |
| Weighted price forecast, about 3 years | 61.98 (+11 %)October 2029 | 96.29 (+22 %)October 2029 |
Who leads on what?
| Leads | The lead is | |
|---|---|---|
| Revenue growth | Enbridge | The higher figure |
| Operating margin | TC Energy | The higher figure |
| Free cash flow | Enbridge | The higher figure |
| Free cash flow yield | TC Energy | The higher figure |
| Dividend yield | Enbridge | The higher figure |
| P/E, last 12 months | TC Energy | The lower figure |
| P/E, next 12 months | Enbridge | The lower figure |
| Weighted price forecast, about 1 year | TC Energy | The higher weighted return |
| Weighted price forecast, about 3 years | TC Energy | The higher weighted return |
What does each company do?
Enbridge owns connected infrastructure for oil transportation and export, gas transmission and storage, local gas delivery and renewable power.
Enbridge (ENB.TO), from our memo of October 20, 2026 · Enbridge stock forecast
TC Energy moves and stores natural gas and owns interests in power plants.
TC Energy (TRP.TO), from our memo of October 13, 2026 · TC Energy stock forecast