TC projects will add to your gains

Article Excerpt

TC Energy’s future remains bright despite U.S. President Joe Biden’s decision last year to cancel the company’s controversial Keystone XL pipeline project. That was a setback, but the pipeline operator continues to work on other key projects to further boost its cash flow and meet its promise to raise your dividend annually. All in all, that adds to the stock’s appeal and your prospects. TC ENERGY INC., $66.40, is a buy. The company (Toronto symbol TRP; Shares outstanding: 983.0 million; Market cap: $64.9 billion; TSINetwork Rating: Above Average; Dividend yield: 5.4%; operates a 93,300-kilometre pipeline network that pumps natural gas from Alberta to eastern Canada and the U.S. Its other operations include 4,900 kilometres of crude oil pipelines and seven power plants. In the quarter ended June 30, 2022, TC’s revenue rose 14.3%, to $3.64 billion from $3.18 billion a year earlier. Excluding one-time items, the company’s per-share earnings fell 5.7%, to $1.00 from $1.06. Costs rose, and there were greater-than-planned outage days at…

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