tc energy
TC Energy Corporation, formerly known as TransCanada Corporation, is a North American energy company headquartered in Calgary, Alberta. It operates across Canada, the United States, and Mexico, focusing on energy infrastructure with core business segments in Natural Gas Pipelines, Power Generation, and Energy Storage.
The company is a key player in energy delivery, moving over 30% of North America’s daily natural gas supply through its extensive pipeline network. Additionally, TC Energy has a diversified portfolio that includes natural gas pipelines, oil pipelines, power generation, and renewable energy projects.
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A: TC Energy Inc., $88.30, symbol TRP on Toronto (Shares outstanding: 1.04 billion; Market cap: $91.9 billion; www.tcenergy.com; TSINetwork Rating: Above Average) generates steady cash flow for investors through a 93,700-kilometre pipeline network that pumps natural gas from Alberta to eastern Canada and the U.S. It also owns gas pipelines in Mexico, and owns or invests in seven power plants in Canada and the U.S.
The company has raised its dividend each year between 2000 and 2023. However, in 2024, it cut the quarterly payment by 14.3% after the spinoff of its oil pipeline business as South Bow Corp. (Toronto symbol SOBO).
The company has raised its dividend each year between 2000 and 2023. However, in 2024, it cut the quarterly payment by 14.3% after the spinoff of its oil pipeline business as South Bow Corp. (Toronto symbol SOBO).
BCE INC. $35 (www.bce.ca) is a buy. The company has won a new contract from Canada’s federal government to modernize call centres for Employment and Social Development Canada, the Canada Revenue Agency, and Immigration, Refugees and Citizenship Canada. These upgrades will use artificial intelligence (AI) tools and other software to improve service and provide real-time data to prevent outages. The company has not yet revealed the value of these deals, but each will run for at least five years.
ALGONQUIN POWER & UTILITIES, $9.52, is a buy. The utility (Toronto symbol AQN; Shares outstanding: 768.2 million; Market cap: $7.3 billion; TSINetwork Rating: Extra Risk; Dividend yield: 3.9%; www.algonquinpower.com) completed the sale of its 42.2% ownership stake in Atlantica Sustainable Infrastructure plc in December 2024 for $1.08 billion (all figures except share price and market cap in U.S. dollars). Algonquin also sold its non-regulated renewable energy business to LS Power in January 2025 for up to $2.5 billion. Today, Algonquin focuses entirely on its regulated utilities, which supply electricity, gas, water distribution and wastewater collection services to 32 million customers in Canada, the U.S., Chile and Bermuda.
Pipeline giant TC Energy was forced to cut its dividend after spinning off its oil pipeline business. However, given rising demand for natural gas and the company’s slate of new projects, we believe TC will return to its longstanding practice of providing annual dividend increases.
Top dividend pick TC Energy Inc. offers a 5.0% yield as it commissions lots of new projects for maximum growth.
Loblaw and TC Energy are leading competitors in theirrespective markets; look for that to cut your ongoing risk. We see both as attractive buys.