12:38:56 EDT Thu 02 May 2024
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Inv Reporter says hold TC Energy

2023-06-30 19:30 ET - In the News

The Investment Reporter, in its June 23, 2023, issue, says hold TC Energy Corp., recently $54.62. The Reporter said buy 30 times from Aug. 29, 1996, to Oct. 14, 2022, at prices ranging from $10.85 to $65.68. Assuming an investment of $1,000 for each of the 30 buys, the $30,000 position would now be worth $51,288. TC Energy is a major North American energy company that develops and operates energy infrastructure in North America (for example, pipelines). For the three months ended March 31, 2023, TC had adjusted earnings of $1.2-billion, or $1.21 a share, up from earnings of $1.1-billion, or $1.12 a share, in the same period of 2022. The increase was partly the result of higher earnings from its U.S. natural gas pipelines after a regulatory settlement allowed for an increase in transportation rates in the Midwest. Earlier in the quarter, TC increased its quarterly dividend to 93 cents a share, up from 90 cents. This is equal to a very attractive yield of 6.8 per cent. As of April, the company had completed 87 per cent of its Coastal GasLink project. TC raised the estimated cost of the project to $14.5-billion, up from $11.2-billion and an earlier projection of $6.6-billion. The Reporter says hold TC Energy.

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