TRP takes on partners

Article Excerpt

TC ENERGY INC., $63.48, is a buy. The company (Toronto symbol TRP; Shares o/s: 940.0 million; Market cap: $59.7 billion; TSINetwork Rating: Above Average; Dividend yield: 5.1%; www.transcanada.com) has sold 65% of the Coastal GasLink pipeline to KKR & Co. and Alberta Investment Management Corporation. Coastal GasLink will pump natural gas from northeastern B.C. to a new liquefied natural gas (LNG) facility in Kitimat, B.C. From there, tankers will carry the LNG to markets in Asia. The line should start operating in 2023. The company received $2.1 billion from the sale of that majority stake. That will help support its plan to increase your annual dividend by 8% to 10% in 2021. It plans to then raise that payment by 5% to 7% in 2022 and beyond. The current annual rate of $3.24 a share yields a high 5.1%. TC Energy is a buy. buy…

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