Time to pick TC (TSX: TRP) stock over ENB & SU as it hikes dividend?

February 16, 2022 01:21 AM AEDT | By Raza Naqvi

Time to pick TC (TSX: TRP) stock over ENB & SU as it hikes dividend? — Image source: © Phongphan5922 | Megapixl.com

Financial performance of TC Energy (TSX:TRP)

As per the company's official release, TC Energy delivered the energy required by people in 2021 and placed C$ 4.1 billion of assets into service. Additionally, the energy company sanctioned new projects worth C$ 7 billion.

TC Energy's segmented earnings were C$ 1.9 billion and the net cash provided by operating activities was C$ 1.8 billion in Q4 2021.

In Q4 2021, the energy company's comparable earnings before interest, taxes, depreciation, and amortization (EBITDA) and comparable funds generated were C$ 2.4 billion and C$ 2.1 billion, respectively.

For the full fiscal year 2021, TC Energy's net income was C$ 1.8 billion and comparable EBITDA stood at C$ 9.4 billion.

Also Read: Enbridge (TSX:ENB) posts $5.8B profit in 2021. A dividend stock to buy?

Notably, the Calgary-based company's board of directors gave their nod to a 3.4 per cent increase in distributing quarterly dividends. A C$ 0.9 per share dividend would be distributed among shareholders for the first quarter of 2022.

Bottom line

TC Energy is looking to expand its business operations and said that its Coastal GasLink project is more than 59 per cent complete.

In the Q4 financial results, the company said the route was this project is cleared and over 70 per cent grading is completed.

Notably, TC Energy has installed more than 149 miles of pipeline for Coastal GasLink project.

Also Read: Is Suncor (TSX:SU) an oil stock for the long haul?

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.