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TC Energy

TSX:TRP
Snowflake Description

Established dividend payer with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TRP
TSX
CA$57B
Market Cap
  1. Home
  2. CA
  3. Energy
Company description

TC Energy Corporation operates as an energy infrastructure company in North America. The last earnings update was 44 days ago. More info.


Add to Portfolio Compare Print
  • TC Energy has significant price volatility in the past 3 months.
TRP Share Price and Events
7 Day Returns
10.3%
TSX:TRP
7%
CA Oil and Gas
7.1%
CA Market
1 Year Returns
-3%
TSX:TRP
-46%
CA Oil and Gas
-25.3%
CA Market
TRP Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
TC Energy (TRP) 10.3% -20.1% -17.3% -3% -5.1% 6.9%
CA Oil and Gas 7% -40.8% -46.8% -46% -53.7% -57.4%
CA Market 7.1% -24.1% -26.7% -25.3% -23.4% -17.5%
1 Year Return vs Industry and Market
  • TRP outperformed the Oil and Gas industry which returned -46% over the past year.
  • TRP outperformed the Market in Canada which returned -25.3% over the past year.
Price Volatility
TRP
Industry
5yr Volatility vs Market

Value

 Is TC Energy undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of TC Energy to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for TC Energy.

TSX:TRP Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 11 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.2%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for TSX:TRP
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.4%
Equity Risk Premium S&P Global 5.4%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.83
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.825 (1 + (1- 26.5%) (88.07%))
1.241
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.24
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.44% + (1.241 * 5.44%)
8.19%

Discounted Cash Flow Calculation for TSX:TRP using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for TC Energy is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

TSX:TRP DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CAD, Millions) Source Present Value
Discounted (@ 8.19%)
2020 1,402.90 Analyst x3 1,296.68
2021 -2,501.35 Analyst x2 -2,136.93
2022 4,444.50 Analyst x2 3,509.51
2023 5,698.00 Analyst x1 4,158.66
2024 5,952.00 Analyst x1 4,015.15
2025 6,144.50 Est @ 3.23% 3,831.18
2026 6,310.15 Est @ 2.7% 3,636.58
2027 6,456.49 Est @ 2.32% 3,439.21
2028 6,589.20 Est @ 2.06% 3,244.16
2029 6,712.47 Est @ 1.87% 3,054.63
Present value of next 10 years cash flows CA$28,048.00
TSX:TRP DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CA$6,712.47 × (1 + 1.44%) ÷ (8.19% – 1.44%)
CA$100,856.67
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CA$100,856.67 ÷ (1 + 8.19%)10
CA$45,896.73
TSX:TRP Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CA$28,048.00 + CA$45,896.73
CA$73,944.73
Equity Value per Share
(CAD)
= Total value / Shares Outstanding
= CA$73,944.73 / 939.80
CA$78.68
TSX:TRP Discount to Share Price
Calculation Result
Value per share (CAD) From above. CA$78.68
Current discount Discount to share price of CA$58.21
= -1 x (CA$58.21 - CA$78.68) / CA$78.68
26%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price TC Energy is available for.
Intrinsic value
26%
Share price is CA$58.21 vs Future cash flow value of CA$78.68
Current Discount Checks
For TC Energy to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • TC Energy's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • TC Energy's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for TC Energy's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are TC Energy's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:TRP PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CAD CA$4.28
TSX:TRP Share Price ** TSX (2020-03-27) in CAD CA$58.21
Canada Oil and Gas Industry PE Ratio Median Figure of 55 Publicly-Listed Oil and Gas Companies 6.03x
Canada Market PE Ratio Median Figure of 497 Publicly-Listed Companies 10.58x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of TC Energy.

TSX:TRP PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:TRP Share Price ÷ EPS (both in CAD)

= 58.21 ÷ 4.28

13.6x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • TC Energy is overvalued based on earnings compared to the CA Oil and Gas industry average.
  • TC Energy is overvalued based on earnings compared to the Canada market.
Price based on expected Growth
Does TC Energy's expected growth come at a high price?
Raw Data
TSX:TRP PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.6x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts
-3.4%per year
Canada Oil and Gas Industry PEG Ratio Median Figure of 29 Publicly-Listed Oil and Gas Companies -0.04x
Canada Market PEG Ratio Median Figure of 234 Publicly-Listed Companies 0.69x

*Line of best fit is calculated by linear regression .

TSX:TRP PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 13.6x ÷ -3.4%

-4.01x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • TC Energy earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on TC Energy's assets?
Raw Data
TSX:TRP PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CAD CA$28.54
TSX:TRP Share Price * TSX (2020-03-27) in CAD CA$58.21
Canada Oil and Gas Industry PB Ratio Median Figure of 198 Publicly-Listed Oil and Gas Companies 0.39x
Canada Market PB Ratio Median Figure of 2,351 Publicly-Listed Companies 1x
TSX:TRP PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:TRP Share Price ÷ Book Value per Share (both in CAD)

= 58.21 ÷ 28.54

2.04x

* Primary Listing of TC Energy.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • TC Energy is overvalued based on assets compared to the CA Oil and Gas industry average.
X
Value checks
We assess TC Energy's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. TC Energy has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is TC Energy expected to perform in the next 1 to 3 years based on estimates from 11 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-3.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is TC Energy expected to grow at an attractive rate?
  • TC Energy's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 1.4%.
Growth vs Market Checks
  • TC Energy's earnings are expected to decrease over the next 1-3 years, this is below the Canada market average.
  • TC Energy's revenue growth is expected to exceed the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:TRP Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:TRP Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts -3.4%
TSX:TRP Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 11 Analysts 6%
Canada Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average -3.7%
Canada Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 1.1%
Canada Market Earnings Growth Rate Market Cap Weighted Average 7.8%
Canada Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSX:TRP Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:TRP Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 18,165 7,559 1
2023-12-31 17,510 7,456 1
2022-12-31 15,722 7,569 2
2021-12-31 14,591 7,209 3,704 7
2020-12-31 13,794 7,248 3,973 7
2020-03-28
TSX:TRP Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-12-31 13,255 7,082 3,976
2019-09-30 13,896 7,295 3,960
2019-06-30 13,919 7,009 4,149
2019-03-31 13,742 7,092 3,809
2018-12-31 13,679 6,555 3,539
2018-09-30 13,392 5,906 3,308
2018-06-30 13,431 5,792 2,992
2018-03-31 13,466 5,340 3,088
2017-12-31 13,449 5,230 2,997
2017-09-30 13,493 5,415 1,778
2017-06-30 13,930 5,495 1,031
2017-03-31 13,451 5,290 515

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • TC Energy's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • TC Energy's revenue is expected to grow by 6% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSX:TRP Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below

All data from TC Energy Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:TRP Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31
2021-12-31 3.84 4.24 3.41 5.00
2020-12-31 3.95 4.18 3.59 3.00
2020-03-28
TSX:TRP Past Financials Data
Date (Data in CAD Millions) EPS *
2019-12-31 4.28
2019-09-30 4.29
2019-06-30 4.52
2019-03-31 4.18
2018-12-31 3.92
2018-09-30 3.70
2018-06-30 3.38
2018-03-31 3.52
2017-12-31 3.44
2017-09-30 2.07
2017-06-30 1.23
2017-03-31 0.64

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • TC Energy is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess TC Energy's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
TC Energy has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has TC Energy performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare TC Energy's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • TC Energy has delivered over 20% year on year earnings growth in the past 5 years.
  • TC Energy's 1-year earnings growth is less than its 5-year average (12.3% vs 38.2%)
  • TC Energy's earnings growth has exceeded the CA Oil and Gas industry average in the past year (12.3% vs -2.5%).
Earnings and Revenue History
TC Energy's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from TC Energy Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:TRP Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 13,255.00 3,976.00 117.00
2019-09-30 13,896.00 3,960.00
2019-06-30 13,919.00 4,149.00
2019-03-31 13,742.00 3,809.00
2018-12-31 13,679.00 3,539.00 84.00
2018-09-30 13,392.00 3,308.00
2018-06-30 13,431.00 2,992.00
2018-03-31 13,466.00 3,088.00
2017-12-31 13,449.00 2,997.00 93.00
2017-09-30 13,493.00 1,778.00
2017-06-30 13,930.00 1,031.00
2017-03-31 13,451.00 515.00
2016-12-31 12,547.00 124.00
2016-09-30 11,737.00 -1,976.00
2016-06-30 11,049.00 -1,439.00
2016-03-31 10,929.00 -1,375.00
2015-12-31 11,353.00 -1,240.00
2015-09-30 11,065.00 1,676.00
2015-06-30 10,572.00 1,731.00
2015-03-31 10,175.00 1,718.00
2014-12-31 10,185.00 1,743.00
2014-09-30 9,901.00 1,705.00
2014-06-30 9,654.00 1,729.00
2014-03-31 9,429.00 1,678.00
2013-12-31 8,797.00 1,712.00
2013-09-30 8,554.00 1,598.00
2013-06-30 8,476.00 1,486.00
2013-03-31 8,314.00 1,393.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • TC Energy has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • TC Energy used its assets more efficiently than the CA Oil and Gas industry average last year based on Return on Assets.
  • TC Energy has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess TC Energy's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
TC Energy has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is TC Energy's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up TC Energy's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • TC Energy's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • TC Energy's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of TC Energy's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from TC Energy Company Filings, last reported 2 months ago.

TSX:TRP Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 32,397.00 49,965.00 1,523.00
2019-09-30 32,201.00 50,106.00 2,455.00
2019-06-30 31,632.00 49,781.00 964.00
2019-03-31 31,297.00 50,607.00 1,171.00
2018-12-31 30,993.00 50,256.00 1,166.00
2018-09-30 29,937.00 47,635.00 1,459.00
2018-06-30 29,316.00 47,047.00 1,806.00
2018-03-31 28,180.00 45,246.00 1,395.00
2017-12-31 26,891.00 43,516.00 1,412.00
2017-09-30 26,284.00 43,600.00 1,704.00
2017-06-30 26,358.00 43,326.00 1,803.00
2017-03-31 26,239.00 46,208.00 1,294.00
2016-12-31 25,983.00 44,858.00 1,380.00
2016-09-30 23,217.00 48,908.00 2,592.00
2016-06-30 18,315.00 43,616.00 2,139.00
2016-03-31 17,836.00 35,041.00 1,750.00
2015-12-31 18,155.00 35,089.00 1,181.00
2015-09-30 21,225.00 33,122.00 755.00
2015-06-30 20,963.00 30,966.00 590.00
2015-03-31 21,209.00 31,931.00 1,821.00
2014-12-31 20,653.00 28,390.00 854.00
2014-09-30 20,934.00 27,002.00 698.00
2014-06-30 20,517.00 25,702.00 567.00
2014-03-31 20,561.00 26,348.00 749.00
2013-12-31 20,136.00 25,770.00 927.00
2013-09-30 19,763.00 23,753.00 645.00
2013-06-30 19,646.00 23,649.00 746.00
2013-03-31 19,161.00 22,415.00 513.00
  • TC Energy's level of debt (154.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (137.6% vs 154.2% today).
  • Debt is not well covered by operating cash flow (14.2%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.7x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess TC Energy's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. TC Energy has a total score of 0/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is TC Energy's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.57%
Current annual income from TC Energy dividends. Estimated to be 5.9% next year.
If you bought CA$2,000 of TC Energy shares you are expected to receive CA$111 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • TC Energy's pays a higher dividend yield than the bottom 25% of dividend payers in Canada (2.75%).
  • TC Energy's dividend is below the markets top 25% of dividend payers in Canada (8.79%).
Upcoming dividend payment

Purchase TC Energy before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSX:TRP Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
Canada Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 37 Stocks 8.6%
Canada Market Average Dividend Yield Market Cap Weighted Average of 325 Stocks 4.9%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.3%
Canada Bottom 25% Dividend Yield 25th Percentile 2.7%
Canada Top 25% Dividend Yield 75th Percentile 8.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSX:TRP Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2024-12-31 4.19 2.00
2023-12-31 3.95 2.00
2022-12-31 3.59 8.00
2021-12-31 3.45 18.00
2020-12-31 3.21 18.00
2020-03-28
TSX:TRP Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2020-02-13 3.240 5.073
2019-11-01 3.000 4.335
2019-08-01 3.000 4.502
2019-05-03 3.000 4.599
2019-02-14 3.000 4.930
2018-11-01 2.760 5.181
2018-08-02 2.760 5.073
2018-04-27 2.760 4.931
2018-02-15 2.760 5.029
2017-11-09 2.500 4.165
2017-07-28 2.500 4.013
2017-05-05 2.500 3.958
2017-02-16 2.500 4.013
2016-11-01 2.260 3.715
2016-07-28 2.260 3.686
2016-02-11 2.260 4.270
2015-07-31 2.080 4.644
2015-05-01 2.080 3.990
2015-02-13 2.080 3.756
2014-11-04 1.920 3.459
2014-07-31 1.920 3.405
2014-05-02 1.920 3.707
2014-02-20 1.920 3.827
2013-11-05 1.840 3.846
2013-07-26 1.840 4.007
2013-04-26 1.840 3.872
2013-02-12 1.840 3.791
2012-10-30 1.760 3.775
2012-07-27 1.760 3.918
2012-04-27 1.760 4.102
2012-02-14 1.760 4.084
2011-11-01 1.680 3.982
2011-07-28 1.680 4.042
2011-04-29 1.680 4.046
2011-02-15 1.680 4.301
2010-11-03 1.600 4.296
2010-07-29 1.600 4.244
2010-04-30 1.600 4.448
2010-02-23 1.600 4.355
2009-11-04 1.520 4.416
2009-07-30 1.520 4.677
2009-05-01 1.520 4.838

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of TC Energy's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.2x coverage).
X
Income/ dividend checks
We assess TC Energy's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can TC Energy afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. TC Energy has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of TC Energy's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Russ Girling
COMPENSATION CA$13,440,747
AGE 56
TENURE AS CEO 9.7 years
CEO Bio

Mr. Russell K. Girling, also known as Russ, B. Comm., M.B.A. (Finance) has been the Chief Executive Officer and President of TransCanada Corporation and TransCanada PipeLines Limited since July 1, 2010 and has been Director of Nutrien Ltd. since January 01, 2018. Mr. Girling has been Director of Potash Corporation of Saskatchewan, Inc. since January 01, 2018. He serves as the Chief Financial Officer, Executive Vice President and Treasurer of Nova Gas Transmission Ltd. He served as the Chief Financial Officer of Gas Transmission Northwest LLC. He served as the Chief Executive Officer of TC PipeLines GP Inc., a General Partner of TC PipeLines, LP from June 1, 2006 to June 30, 2010, President from June 2006 to January 18, 2007 and Chief Financial Officer since April 1999. He served as the Chief Operating Officer of TransCanada Corp. and TransCanada PipeLines Limited since July 17, 2009 until June 30, 2010. He served as President of Pipelines Division for Transcanada Corporation and TCPL since May 30, 2006 until June 30, 2010. Until 2001, he served as President of TransCanada Gas Services and was responsible for its ultimate disposition. Mr. Girling served as an Executive Vice President of Corporate Development and Chief Financial Officer of TransCanada Corp. from March 2003 to May 30, 2006. He served as the Chief Financial Officer of TransCanada Power Services Ltd., the General Partner of Transcanada Power LP. He served as the Chief Financial Officer for TransCanada PipeLines Limited from March 2003 to June 2006 and also served as its Executive Vice President until June 2006. From July 1999 to June 2000, Mr. Girling served as Senior Vice President and Chief Financial Officer of TransCanada. From January 1999 to July 1999, he served as Vice President of Finance of TransCanada. From July 1998 to January 1999, he served as an Executive Vice President of Power of TransCanada Energy Ltd. In 1995 Mr. Girling was appointed Executive Vice-President, Power where he had overall responsibility for the creation and management of the TransCanada subsidiary, TransCanada Power, including the creation of TransCanada Power, L.P. From October 1995 to July 1998, Mr. Girling served as a Senior Vice President of North American Power of TransCanada Energy Ltd. Mr. Girling served as an Executive Vice President and Chief Financial Officer of Transcanada Corp. from June 2000 to March 2003. From January 1999 to September 1999, he served as Vice President of Finance. He served as Executive Vice President of Power at TransCanada from 1995 to 1999. Prior to joining TransCanada in 1994, Mr. Girling held several marketing and management positions at Suncor Inc., Northridge Petroleum Marketing and Dome Petroleum. Prior to July 1998, he served as Senior Vice President of North American Power at TransCanada Energy. Mr. Girling served as the Chairman of TC PipeLines GP Inc. since January 18, 2007. He served as the Chairman of TransCanada Power Services Ltd., the General Partner of Transcanada Power LP. He served as the Chairman of TransCanada Power, L.P. Mr. Girling has been a Director of TransCanada Corp and TransCanada PipeLines Limited. since July 2010. Mr. Girling has been a Director of NOVA Gas Transmission Ltd., since August 1, 1999. He served as a Director of TC PipeLines GP Inc. since April 1999. Mr. Girling serves as a Director of Transcanada Power LP. He was a Director at Agrium Inc. since May 9, 2006 until 2018. He was the 2012 City of Calgary and area Co-Chair of the United Way campaign. He serves as a Director of the Willow Park Charity Golf Classic and was a Member of the United Way Campaign from 2002 to 2004. Mr. Girling also serves as a Director of Alberta Childrens Hospital Foundation. He served as a Director of TransCanada Power Services Ltd., General Partner of EPCOR Power L.P. His Key skills and experience includes: Mining, Energy & Exploration, Distribution and Public Policy & External Relations. He served as a Director of Bruce Power Inc. He served as a Director of the Power Pool of Alberta and Junior Achievement. He is the former Chairman of the Interstate Natural Gas Association of America (INGAA) and the Natural Gas Council (NGC). He is also a member of the Canadian Council of Chief Executives, the U.S. National Petroleum Council and U.S. Business Roundtable. He served as a Director of the Canadian Energy Pipeline Association (CEPA). He was a 1998/1999 recipient of Canada’s Top 40 Under 40 Award for leadership excellence for Canadians under the age of 40. In 2008 he was the recipient of the Haskayne School of Business Management Alumni Excellence (MAX) Award. He is a member of the Board of Directors of the American Petroleum Institute and the Business Council of Canada. Mr. Girling holds a Bachelor of Commerce degree and a Master of Business Administration in Finance from the University of Calgary.

CEO Compensation
  • Russ's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Russ's remuneration is higher than average for companies of similar size in Canada.
Management Team Tenure

Average tenure and age of the TC Energy management team in years:

4.8
Average Tenure
54.5
Average Age
  • The tenure for the TC Energy management team is about average.
Management Team

Russ Girling

TITLE
President
COMPENSATION
CA$13M
AGE
56
TENURE
9.7 yrs

Don Marchand

TITLE
Executive VP of Strategy & Corporate Development and CFO
COMPENSATION
CA$4M
AGE
56
TENURE
9.7 yrs

François Poirier

TITLE
COO & President - Power & Storage and Mexico
COMPENSATION
CA$3M
AGE
53
TENURE
0.2 yrs

Paul Miller

TITLE
Executive VP & President of Liquids Pipelines
COMPENSATION
CA$3M
AGE
60
TENURE
6 yrs

Stan Chapman

TITLE
Executive VP & President of U.S. Natural Gas Pipelines
COMPENSATION
CA$4M
AGE
53

David Moneta

TITLE
Vice President of Investor Relations & Financial Communications

Patrick Keys

TITLE
EVP of Stakeholder Relations
TENURE
0.8 yrs

Joel Hunter

TITLE
Senior Vice President of Capital Markets
AGE
52
TENURE
2.3 yrs

Wendy Hanrahan

TITLE
Executive Vice President of Corporate Services
COMPENSATION
CA$2M
AGE
61
TENURE
8.8 yrs

Shawn Patterson

TITLE
Senior Vice President of Operations - U.S. Natural Gas Pipelines
AGE
45
TENURE
3.7 yrs
Board of Directors Tenure

Average tenure and age of the TC Energy board of directors in years:

4.2
Average Tenure
60.5
Average Age
  • The tenure for the TC Energy board of directors is about average.
Board of Directors

Siim Vanaselja

TITLE
Independent Chairman of the Board
COMPENSATION
CA$502K
AGE
62
TENURE
2.8 yrs

Russ Girling

TITLE
President
COMPENSATION
CA$13M
AGE
56
TENURE
9.7 yrs

Donald Michael Stewart

TITLE
Independent Director
COMPENSATION
CA$257K
AGE
67
TENURE
14.2 yrs

John Lowe

TITLE
Independent Director
COMPENSATION
CA$354K
AGE
60
TENURE
4.5 yrs

S. Jackson

TITLE
Independent Director
COMPENSATION
CA$256K
AGE
66
TENURE
18.2 yrs

Mary Salomone

TITLE
Independent Director
COMPENSATION
CA$337K
AGE
59
TENURE
7.1 yrs

Indira Samarasekera

TITLE
Independent Director
COMPENSATION
CA$243K
AGE
66
TENURE
3.9 yrs

Stéphan Crétier

TITLE
Independent Director
COMPENSATION
CA$240K
AGE
55
TENURE
3.1 yrs

Thierry Vandal

TITLE
Independent Director
COMPENSATION
CA$321K
AGE
58
TENURE
2.3 yrs

Randy Limbacher

TITLE
Independent Director
COMPENSATION
CA$321K
AGE
61
TENURE
1.8 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by TC Energy individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
23. Mar 20 Buy John McWilliams Individual 23. Mar 20 23. Mar 20 6,100 CA$50.19 CA$306,169
21. Mar 20 Buy Fareen Sunderji Individual 18. Mar 20 18. Mar 20 800 CA$50.00 CA$40,000
19. Mar 20 Buy David Pfeiffer Individual 18. Mar 20 18. Mar 20 870 CA$52.90 CA$46,023
19. Mar 20 Buy Sonya Kirby Individual 18. Mar 20 18. Mar 20 700 CA$49.21 CA$34,447
16. Mar 20 Buy Nancy Johnson Individual 03. Mar 20 13. Mar 20 750 CA$75.61 CA$51,986
16. Mar 20 Buy Jawad Masud Individual 16. Mar 20 16. Mar 20 200 CA$54.00 CA$10,800
16. Mar 20 Buy Joshua Gibbon Individual 16. Mar 20 16. Mar 20 300 CA$54.36 CA$16,308
16. Mar 20 Buy James Eckert Individual 24. Feb 20 12. Mar 20 2,174 CA$78.41 CA$126,866
16. Mar 20 Buy Richard Prior Individual 12. Mar 20 12. Mar 20 800 CA$53.28 CA$42,624
16. Mar 20 Buy François Poirier Individual 12. Mar 20 12. Mar 20 8,800 CA$57.23 CA$503,661
16. Mar 20 Buy G. Menuz Individual 13. Mar 20 13. Mar 20 1,900 CA$54.29 CA$103,151
16. Mar 20 Buy Kevin Benson Individual 12. Mar 20 12. Mar 20 200 CA$53.00 CA$10,600
18. Mar 20 Buy Fareen Sunderji Individual 16. Mar 20 16. Mar 20 1,200 CA$50.00 CA$60,000
18. Mar 20 Buy Russell Mahan Individual 16. Mar 20 18. Mar 20 1,875 CA$55.73 CA$101,581
17. Mar 20 Buy David Pfeiffer Individual 16. Mar 20 16. Mar 20 1,000 CA$53.59 CA$53,590
17. Mar 20 Buy Tracy Robinson Individual 12. Mar 20 12. Mar 20 2,000 CA$54.10 CA$108,200
13. Mar 20 Buy Christopher Foster Individual 12. Mar 20 12. Mar 20 350 CA$56.51 CA$19,780
13. Mar 20 Buy Jawad Masud Individual 12. Mar 20 12. Mar 20 800 CA$53.40 CA$42,720
13. Mar 20 Buy Leslie Kass Individual 13. Mar 20 13. Mar 20 7,500 CA$53.80 CA$403,531
13. Mar 20 Buy Lauri Newton Individual 12. Mar 20 12. Mar 20 2,318 CA$53.65 CA$124,371
13. Mar 20 Buy Jasmin Bertovic Individual 12. Mar 20 12. Mar 20 1,000 CA$51.90 CA$45,698
13. Mar 20 Buy Robert Jacobucci Individual 13. Mar 20 13. Mar 20 3,500 CA$53.96 CA$188,850
13. Mar 20 Buy Bevin Wirzba Individual 13. Mar 20 13. Mar 20 2,500 CA$54.13 CA$135,325
12. Mar 20 Buy Patrick Keys Individual 12. Mar 20 12. Mar 20 3,000 CA$52.04 CA$156,118
12. Mar 20 Buy Richard Prior Individual 09. Mar 20 09. Mar 20 349 CA$65.22 CA$22,292
12. Mar 20 Buy Paul Miller Individual 12. Mar 20 12. Mar 20 2,000 CA$52.46 CA$104,920
11. Mar 20 Buy Lauri Newton Individual 09. Mar 20 09. Mar 20 1,641 CA$66.03 CA$108,347
11. Mar 20 Buy Jasmin Bertovic Individual 11. Mar 20 11. Mar 20 500 CA$63.12 CA$31,562
11. Mar 20 Buy Robert Jacobucci Individual 11. Mar 20 11. Mar 20 315 CA$64.18 CA$20,217
10. Mar 20 Buy Patrick Keys Individual 10. Mar 20 10. Mar 20 3,500 CA$63.11 CA$220,870
10. Mar 20 Buy Christopher Foster Individual 09. Mar 20 09. Mar 20 623 CA$66.36 CA$41,341
10. Mar 20 Buy Jawad Masud Individual 10. Mar 20 10. Mar 20 230 CA$64.30 CA$14,789
10. Mar 20 Buy Jasmin Bertovic Individual 09. Mar 20 09. Mar 20 1,000 CA$63.45 CA$63,451
10. Mar 20 Buy Tracy Robinson Individual 10. Mar 20 10. Mar 20 4,500 CA$64.83 CA$291,715
10. Mar 20 Buy Kevin Benson Individual 09. Mar 20 09. Mar 20 150 CA$61.08 CA$9,162
10. Mar 20 Buy Una Power Individual 10. Mar 20 10. Mar 20 1,560 CA$64.06 CA$99,934
09. Mar 20 Buy Jawad Masud Individual 09. Mar 20 09. Mar 20 650 CA$66.27 CA$43,074
09. Mar 20 Buy Joshua Gibbon Individual 06. Mar 20 09. Mar 20 2,100 CA$72.32 CA$146,471
09. Mar 20 Buy Millie Moran Individual 06. Mar 20 09. Mar 20 2,000 CA$72.53 CA$137,751
09. Mar 20 Buy Charles Moran Individual 09. Mar 20 09. Mar 20 2,000 CA$64.79 CA$129,571
09. Mar 20 Buy Richard Prior Individual 06. Mar 20 06. Mar 20 400 CA$71.19 CA$28,475
09. Mar 20 Buy François Poirier Individual 09. Mar 20 09. Mar 20 13,500 CA$66.09 CA$892,258
05. Mar 20 Sell Robert Jacobucci Individual 05. Mar 20 05. Mar 20 -285 CA$73.54 CA$-20,959
04. Mar 20 Buy Joshua Gibbon Individual 04. Mar 20 04. Mar 20 1,000 CA$73.11 CA$73,111
04. Mar 20 Buy Kevin Benson Individual 02. Mar 20 02. Mar 20 290 CA$70.73 CA$20,512
26. Feb 20 Sell Wendy Hanrahan Individual 26. Feb 20 26. Feb 20 -1,630 CA$74.57 CA$-121,546
28. Feb 20 Buy Sonya Kirby Individual 28. Feb 20 28. Feb 20 700 CA$69.81 CA$48,867
28. Feb 20 Buy Richard Prior Individual 26. Feb 20 28. Feb 20 651 CA$75.13 CA$46,549
28. Feb 20 Buy Joel Hunter Individual 28. Feb 20 28. Feb 20 500 CA$69.09 CA$34,545
28. Feb 20 Buy Robert Jacobucci Individual 28. Feb 20 28. Feb 20 370 CA$69.59 CA$25,640
25. Feb 20 Buy Gloria Hartl Individual 25. Feb 20 25. Feb 20 560 CA$75.19 CA$42,106
24. Feb 20 Buy David Pfeiffer Individual 21. Feb 20 21. Feb 20 165 CA$75.89 CA$12,522
24. Feb 20 Buy Stanley Chapman Individual 24. Feb 20 24. Feb 20 9,735 CA$75.53 CA$735,291
21. Feb 20 Buy Jennifer Pierce Individual 19. Feb 20 19. Feb 20 1,448 CA$75.67 CA$109,570
19. Feb 20 Buy Richard Prior Individual 18. Feb 20 19. Feb 20 1,391 CA$75.01 CA$99,104
18. Sep 19 Buy Bevin Wirzba Individual 16. Sep 19 16. Sep 19 500 CA$66.19 CA$33,095
11. Dec 19 Sell Penny Favel Individual 10. Dec 19 10. Dec 19 -315 CA$68.09 CA$-21,448
29. Nov 19 Buy David Pfeiffer Individual 27. Nov 19 27. Nov 19 605 CA$67.34 CA$40,741
26. Nov 19 Buy Jasmin Bertovic Individual 25. Nov 19 25. Nov 19 500 CA$67.82 CA$33,910
25. Nov 19 Sell Robert Jacobucci Individual 25. Nov 19 25. Nov 19 -940 CA$67.84 CA$-63,770
20. Nov 19 Sell Christopher Foster Individual 18. Nov 19 18. Nov 19 -220 CA$68.01 CA$-14,962
20. Nov 19 Sell Christine Johnston Individual 20. Nov 19 20. Nov 19 -595 CA$67.99 CA$-40,454
08. Nov 19 Buy Christine Johnston Individual 07. Nov 19 07. Nov 19 13 CA$65.69 CA$854
05. Nov 19 Buy Patrick Keys Individual 05. Nov 19 05. Nov 19 3,000 CA$65.26 CA$195,751
05. Nov 19 Buy Charles Moran Individual 05. Nov 19 05. Nov 19 500 CA$65.18 CA$32,588
18. Sep 19 Buy Patrick Keys Individual 18. Sep 19 18. Sep 19 1,500 CA$67.54 CA$101,303
12. Sep 19 Buy Stanley Chapman Individual 11. Sep 19 11. Sep 19 4,630 CA$66.85 CA$309,513
10. Sep 19 Buy Jasmin Bertovic Individual 10. Sep 19 10. Sep 19 220 CA$50.79 CA$11,173
09. Sep 19 Sell Stanley Chapman Individual 06. Sep 19 06. Sep 19 -136,065 CA$67.18 CA$-9,141,282
06. Sep 19 Buy Joel Hunter Individual 06. Sep 19 06. Sep 19 500 CA$67.37 CA$33,685
05. Sep 19 Buy Donald Marchand Individual 05. Sep 19 05. Sep 19 4,500 CA$69.15 CA$311,059
22. Aug 19 Sell Patrick Keys Individual 21. Aug 19 21. Aug 19 -2,175 CA$64.82 CA$-140,972
15. Aug 19 Sell Robert Jacobucci Individual 14. Aug 19 14. Aug 19 -108 CA$64.57 CA$-6,974
07. Aug 19 Buy Patrick Keys Individual 06. Aug 19 06. Aug 19 4,000 CA$62.83 CA$251,265
17. Jun 19 Buy Wendy Straatmann Individual 14. Jun 19 14. Jun 19 300 CA$65.58 CA$19,675
10. Jun 19 Buy Christopher Foster Individual 07. Jun 19 07. Jun 19 171 CA$66.04 CA$11,293
31. May 19 Buy Stephanie Wilson Individual 30. May 19 30. May 19 860 CA$65.56 CA$56,375
16. May 19 Buy Jennifer Pierce Individual 16. May 19 16. May 19 1,769 CA$64.33 CA$113,800
16. May 19 Buy Robert Jacobucci Individual 16. May 19 16. May 19 500 CA$64.84 CA$32,420
09. May 19 Buy Wendy Hanrahan Individual 09. May 19 09. May 19 8,040 CA$63.18 CA$507,991
01. Apr 19 Buy Robert Jacobucci Individual 29. Mar 19 29. Mar 19 1,675 CA$59.66 CA$99,923
X
Management checks
We assess TC Energy's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. TC Energy has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

How Should Investors React To TC Energy Corporation's (TSE:TRP) CEO Pay?

According to our data, TC Energy Corporation has a market capitalization of CA$63b, and pays its CEO total annual compensation worth CA$13m. … With a total shareholder return of 32% over three years, TC Energy Corporation shareholders would, in general, be reasonably content. … We compared the total CEO remuneration paid by TC Energy Corporation, and compared it to remuneration at a group of other large companies.

Simply Wall St -

Here's Why I Think TC Energy (TSE:TRP) Is An Interesting Stock

On top of the insider buying, it's good to see that TC Energy insiders have a valuable investment in the business. … On top of that, insiders own a significant stake in the company and have been buying more shares. … So if you like the sound of TC Energy, you'll probably love this free list of growing companies that insiders are buying.

Simply Wall St -

Patrick Keys Is The Executive VP of Stakeholder Relations & General Counsel of TC Energy Corporation (TSE:TRP) And They Just Spent CA$251k On Shares

View our latest analysis for TC Energy TC Energy Insider Transactions Over The Last Year The insider, David Kohlenberg, made the biggest insider sale in the last 12 months. … Over the last year, we can see that insiders have bought 49376 shares worth CA$2.7m. … TC Energy insiders own about CA$56m worth of shares.

Simply Wall St -

TC Energy Corporation (TSE:TRP) Is Yielding 4.6% - But Is It A Buy?

Today we'll take a closer look at TC Energy Corporation (TSE:TRP) from a dividend investor's perspective. Owning a strong business and reinvesting the dividends is widely seen as an attractive way of growing your wealth. Yet sometimes, investors buy a popular dividend stock because of its yield, and then lose money if the company's dividend doesn't live up to expectations. In this case, TC Energy likely looks attractive to investors, given its 4.6% dividend yield and a payment history of over ten years. We'd guess that plenty of investors have purchased it for the income. There are a few simple ways to reduce the risks of buying TC Energy for its dividend, and we'll go through these below. Click the interactive chart for our full dividend analysis TSX:TRP Historical Dividend Yield, July 30th 2019 Payout ratios Dividends are usually paid out of company earnings. If a company is paying more than it earns, then the dividend might become unsustainable - hardly an ideal situation. Comparing dividend payments to a company's net profit after tax is a simple way of reality-checking whether a dividend is sustainable. In the last year, TC Energy paid out 67% of its profit as dividends. A payout ratio above 50% generally implies a business is reaching maturity, although it is still possible to reinvest in the business or increase the dividend over time. In addition to comparing dividends against profits, we should inspect whether the company generated enough cash to pay its dividend. Last year, TC Energy paid a dividend while reporting negative free cash flow. While there may be an explanation, we think this behaviour is generally not sustainable. Is TC Energy's Balance Sheet Risky? As TC Energy has a meaningful amount of debt, we need to check its balance sheet to see if the company might have debt risks. A rough way to check this is with these two simple ratios: a) net debt divided by EBITDA (earnings before interest, tax, depreciation and amortisation), and b) net interest cover. Net debt to EBITDA is a measure of a company's total debt. Net interest cover measures the ability to meet interest payments. Essentially we check that a) the company does not have too much debt, and b) that it can afford to pay the interest. … TC Energy's earnings per share have grown rapidly in recent years, although more than half of its profits are being paid out as dividends, which makes us wonder if the company has a limited number of reinvestment opportunities in its business. … TC Energy gets a pass on its dividend payout ratio, but it paid out virtually all of its cash flow as dividends.

Simply Wall St -

Can TC Energy Corporation (TSE:TRP) Maintain Its Strong Returns?

The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for TC Energy: 12% = CA$3.8b ÷ CA$31b (Based on the trailing twelve months to March 2019.) Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated. … One simple way to determine if a company has a good return on equity is to compare it to the average for its industry. … Combining TC Energy's Debt And Its 12% Return On Equity TC Energy does use a significant amount of debt to increase returns.

Simply Wall St -

What Does TC Energy Corporation's (TSE:TRP) P/E Ratio Tell You?

See our latest analysis for TC Energy How Do I Calculate TC Energy's Price To Earnings Ratio? … The formula for P/E is: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for TC Energy: P/E of 15.93 = CA$66.61 ÷ CA$4.18 (Based on the year to March 2019.) Is A High Price-to-Earnings Ratio Good? … The higher the P/E ratio, the higher the price tag of a business, relative to its trailing earnings.

Simply Wall St -

Did TC Energy's (TSE:TRP) Share Price Deserve to Gain 30%?

To wit, the TC Energy share price has climbed 30% in five years, easily topping the market return of 3.1% (ignoring dividends). … When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. … So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return.

Simply Wall St -

Are Investors Undervaluing TC Energy Corporation (TSE:TRP) By 38%?

In this article we are going to estimate the intrinsic value of TC Energy Corporation (TSE:TRP) by taking the expected future cash flows and discounting them to their present value. … A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we discount the value of these future cash flows to their estimated value in today's dollars: 10-year free cash flow (FCF) forecast 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF (CA$, Millions) CA$4.72k CA$5.08k CA$4.62k CA$5.48k CA$7.74k CA$8.62k CA$9.36k CA$9.98k CA$10.49k CA$10.94k Growth Rate Estimate Source Analyst x3 Analyst x3 Analyst x1 Analyst x1 Analyst x1 Est @ 11.39% Est @ 8.55% Est @ 6.57% Est @ 5.18% Est @ 4.21% Present Value (CA$, Millions) Discounted @ 9.76% CA$4.30k CA$4.22k CA$3.50k CA$3.78k CA$4.86k CA$4.93k CA$4.88k CA$4.73k CA$4.54k CA$4.31k Present Value of 10-year Cash Flow (PVCF)= CA$44.04b "Est" = FCF growth rate estimated by Simply Wall St After calculating the present value of future cash flows in the intial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. … TSX:TRP Intrinsic value, June 10th 2019 Important assumptions We would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows.

Simply Wall St -

What Kind Of Shareholder Owns Most TC Energy Corporation (TSE:TRP) Stock?

Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. … We also tend to see lower insider ownership in companies that were previously publicly owned. … Taking a look at our data on the ownership groups (below), it's seems that.

Simply Wall St -

How TransCanada Corporation (TSE:TRP) Could Add Value To Your Portfolio

TransCanada Corporation (TSE:TRP) is a company with exceptional fundamental characteristics. … Upon building up an investment case for a stock, we should look at various aspects. … dividend-paying company

Simply Wall St -

Company Info

Description

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, and Power and Storage segments. The company builds and operates 92,600 km network of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses. It also has regulated natural gas storage facilities with a total working gas capacity of 535 billion cubic feet. In addition, it has approximately 4,900 km of oil and liquids pipeline infrastructure that connects Alberta crude oil supplies to refining markets in Illinois, Oklahoma, Texas, and the U.S. Gulf Coast. Further, the company owns or has interests in 10 power generation facilities with a combined capacity of approximately 6,600 megawatts that are powered by natural gas and nuclear fuel sources located in Alberta, Ontario, Québec, New Brunswick and Arizona; and owns and operates approximately 118 billion cubic feet of unregulated natural gas storage capacity in Alberta. The company was formerly known as TransCanada Corporation and changed its name to TC Energy Corporation in May 2019. TC Energy Corporation was founded in 1951 and is headquartered in Calgary, Canada.

Details
Name: TC Energy Corporation
TRP
Exchange: TSX
Founded: 1951
CA$57,337,441,673
939,803,994
Website: http://www.tcenergy.com
Address: TC Energy Corporation
450 - 1 Street SW,
Calgary,
Alberta, T2P 5H1,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX TRP Common Shares The Toronto Stock Exchange CA CAD 11. Dec 1973
NYSE TRP Common Shares New York Stock Exchange US USD 11. Dec 1973
DB TRS Common Shares Deutsche Boerse AG DE EUR 11. Dec 1973
DUSE TRS Common Shares Dusseldorf Stock Exchange DE EUR 11. Dec 1973
TSX TRP.PRC 1ST PFD SER 5 The Toronto Stock Exchange CA CAD 29. Jun 2010
TSX TRP.PRA PFD SHS SER 1 The Toronto Stock Exchange CA CAD 30. Sep 2009
TSX TRP.PRB PFD SHS SER 3 The Toronto Stock Exchange CA CAD 11. Mar 2010
TSX TRP.PRF CUM 1ST PFD SR 2 The Toronto Stock Exchange CA CAD 02. Jan 2015
TSX TRP.PRJ 1ST PFD SER 13 The Toronto Stock Exchange CA CAD 21. Apr 2016
TSX TRP.PRK CUM RED PFD 15 The Toronto Stock Exchange CA CAD 21. Nov 2016
OTCPK TCAN.F 1ST PFD SER 5 Pink Sheets LLC US USD 29. Jun 2010
OTCPK TNCA.F CUM 1ST PFD SR 2 Pink Sheets LLC US USD 02. Jan 2015
Number of employees
Current staff
Staff numbers
7,305
TC Energy employees.
Industry
Oil and Gas Storage and Transportation
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/28 03:27
End of day share price update: 2020/03/27 00:00
Last estimates confirmation: 2020/03/25
Last earnings filing: 2020/02/13
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.