TC Energy Corp T.TRP

Brett Girard - BNN - TOP PICK

[Possibleidiot01]

TC Energy (TRP TSX)

Soon to be a North American Gas pipeline operator with a Nuclear power arm (owing 48 per cent of Bruce Power). Effectively absorbing higher interest rates effectively with 89 per cent of debt fixed-rate, an average term of 18 years to maturity and a weighted average coupon of five per cent. 7.6 per cent current dividend yield and has a history of 23 consecutive years of dividend increases.

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TOP PICK

TC Energy(TRP-T)

13/11/2023

 

Re-evaluating strategy. Asset sale proceeds used to pay down debt. Coastal GasLink will help move product. Dividend is nice to have in your portfolio. 89% of debt is fixed rate, and average maturity is 18 years, so well insulated from impact of higher rates. Yield is 7.57%.

(Analysts’ price target is $52.51)

oil / gas pipelines

 

$49.620

Owned