CA - TC Energy: Massive Q4 Beat And 3% Dividend Increase

2024-02-16 13:21:03 ET

Summary

• TC Energy Corporation's Q4 2023 adjusted EBITDA of over $3.11 billion exceeded expectations.
• The company made progress on all its projects and achieved solid results across all segments.
• The dividend was increased to a $3.84 CAD annualized run rate.
• We analyze the numbers and tell you where we stand.

Note: All amounts discussed are in Canadian Dollars unless specified otherwise

On our recent coverage of TC Energy Corporation (TRP) (TRP:CA), we looked at the longer-term challenges for the spendthrift company. While the liquids spinoff was hailed as a holy grail for fixing the problems, we looked at it as a poor solution for what was plaguing it. We still came away with a "hold" rating as the valuation was not too bad and the dividend yield made 7% total return probable. The stock has done ok since then, though it did get a boost pre-market after it announced Q4 results today....

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