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This 4.5% Dividend Stock Belongs in Every TFSA
TC Energy Corp. (TSX: TRP)
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TC Energy (TSX: TRP) is one of Canada’s largest energy infrastructure companies, operating critical natural gas pipelines and power assets across North America. With regulated cash flows, long-life assets, and a ~4.5% dividend yield, TRP is a popular TFSA-friendly income name. Here’s a clean, investor-friendly snapshot of what’s moving the stock this week and why it remains on many long-term radars.
This Week’s Highlights
Steady market performance: Shares closed at $75.49, hovering near the top of the 52-week range, reflecting resilient sentiment in defensive energy infrastructure.
Earnings momentum intact: Recent quarters showed positive EPS surprises, supporting confidence in cash-flow stability despite modest near-term growth.
Income focus: TRP’s regulated pipeline assets and power generation (including Bruce Power) continue to underpin predictable cash flows for dividends.
Key Metrics Snapshot
Metric | Value |
|---|---|
Stock Price | $75.49 |
Weekly Move | +0.69% |
Market Cap | $56.9B USD |
P/E Ratio | 21.1x |
Forward P/E | 20.0x |
52-Week Range | $62.17 – $77.73 |
YTD Return | +16.9% |
Dividend Yield (Fwd.) | 4.5% |
Analyst Insights
Consensus Rating: BUY ⭐⭐⭐⭐☆
Average Target Price: $79.21
Upside Potential: ~4.9%
Ratings Breakdown (18 Analysts):
Strong Buy: 10
Buy: 1
Hold: 6
Sell: 0
Strong Sell: 1
Analysts highlight TRP’s defensive profile, regulated returns, and reliable income—well suited for TFSA investors seeking stability.
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Recent News (What Investors Are Watching)
Pipeline & power stability: Continued focus on optimizing North American gas transmission and long-term power contracts.
Earnings follow-through: Recent EPS beat helped reinforce confidence after a softer growth period.
Capital discipline: Ongoing emphasis on balance sheet management and dividend sustainability.
Growth Indicators
Growth Metric | Estimate |
|---|---|
Sales Growth (Next Year) | +6.2% |
EPS Growth (Next Year) | +8.0% |
5-Year EPS Growth (Est.) | ~2.3% |
Takeaway: TRP isn’t a high-growth story—but it doesn’t need to be. The investment case centers on durable cash flows, modest growth, and reliable income.
Dividend Check
Forward Yield: 4.5%
Forward DPS: $3.40
Payout Ratio: ~103% (watch item, but typical for infrastructure with regulated cash flows)
TFSA-friendly: Yes — steady income + lower volatility
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Bottom Line
TC Energy (TSX: TRP) offers a defensive energy infrastructure play with a solid dividend, modest upside, and relatively low volatility (β ≈ 0.31). For TFSA investors prioritizing income, stability, and essential assets, TRP remains a core consideration—especially during uncertain market cycles.
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The Wealth Awesome Team