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

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

TRP stock
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Highlights:
  • The Calgary-based TC Energy (TSX:TRP) is one of the leading energy companies in North America.
  • 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.
  • 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.

TC Energy Corporation (TSX:TRP) announced financial results for the fourth quarter of fiscal 2021 and said its net income attributable to shareholders was C$ 1.1 billion, translating to C$ 1.14 per share.

The Calgary-based TC Energy is one of the leading energy companies in North America and operates businesses like liquids pipelines, energy, and natural gas pipelines.

TC Energy's chief executive officer (CEO) Francois Poirier said that the company's diversified portfolio of energy infrastructure assets performed well in 2021 and helped it achieve solid financial results.

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.

TRP Stock                                                                                            ©2022 Kalkine Media® 

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?

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