TRP getting harder to resist

 

TC Energy Corporation (TRP) is getting harder and harder to resist. It is now yielding 7.02%. A very nice yield for anyone but especially appealing to retirees living on their dividend income.

TC Energy is a pipeline and an utilities operator. I understand TC Energy transports about 25% of the natural gas consumed in North America and operates Bruce Power, the nuclear generating facility on the shore of Lake Huron in Ontario. TC Energy is more exposed to the natural gas market than Enbridge, one of its main competitors.

A quick check of the Financial Times shows that TC Energy has:

• 15 analysts covering TC Energy expect the dividend to grow 3.39% in the upcoming fiscal year
• TC Energy Corporation had revenues for the full year 2022 11.88% above the prior year's results
• 17 analysts offering 12 month price targets for TC Energy Corp have a median target of 61.00. This is approximately a 14% increase from recent prices.

If I didn't already have exposure to TRP, I'd be a buyer at today's price. As it is, I am going to wait and see if TRP drops a little more than another two dollars. That would make a new low for the past year. I would find TRP irresistible at that point.