11 Best Canadian Growth Stocks to Buy According to Hedge Funds

4. TC Energy Corporation (NYSE:TRP)

Number of Hedge Fund Holders: 27

3-year EPS growth: 29.49%

On January 28, Morgan Stanley raised its price target on TC Energy Corporation (NYSE:TRP) to C$93 from C$92 while maintaining an Overweight rating, as part of a broader reassessment of North American midstream and renewable infrastructure equities. The firm noted strong sector performance amid favorable commodity pricing and constructive earnings results, supporting continued investor interest in high-quality infrastructure platforms.

TC Energy Corporation (NYSE:TRP)’s fourth-quarter EBITDA exceeded consensus expectations by approximately 2%, reflecting solid operating execution. However, the company advanced roughly C$0.6 billion of newly sanctioned projects during the quarter, below expectations. Management highlighted an expanded pipeline of de-risked opportunities, adding approximately C$2 billion in near-term projects within a broader C$20 billion origination backlog. This backlog, alongside new open seasons, provides a foundation for incremental growth into 2026. While project timing visibility remains a consideration, the scale of sanctioned and prospective investments supports medium-term earnings expansion and underpins the constructive stance on the shares.

Founded in 1951 and headquartered in Calgary, TC Energy Corporation (NYSE:TRP) builds and operates energy infrastructure across Canada, the United States, and Mexico. Its core segments include natural gas pipelines, power generation, and energy storage, positioning the company as a critical conduit for North American energy supply with long-duration, regulated cash flows.