Enbridge or TC Energy?

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Hey guys,

I have been looking at these two stocks and I am planning on adding one to my portfolio in the near future. I understand that they are both trading at a discount and I was hoping to have some guidance on the decision. I believe that it was Dan who was talking about moving towards having TC Energy as the sole oil & gas holding in his portfolio. I am looking to hold this in my TFSA (I am not sure if that has any bearing on the decision).

Thank you very much!

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Asked on December 12, 2020 7:48 pm
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Private answer

Hey there.

First off full disclosure, I do own both companies.

In my opinion, TC Energy has better potential for dividend growth moving forward, and has a better project pipeline. It is extremely reliable when it comes to hitting dividend growth targets and provides long-term dividend growth guidance, something we really like from the company.

Keep in mind, TC Energy is on our Dividend Bull List and you can view our report here:

https://www.stocktrades.ca/premium/individual-dividend-picks/tc-energy-trp-to/

However, I don't think holding Enbridge is necessarily a bad idea. It pays a lucrative dividend, one that is well managed by the company as we can recently see with it scaling back dividend growth to the 3% range.

If you were to ask me however who would outperform moving forward, I'm in firm TC Energy territory. There isn't much not to like about the company.

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Posted by Dan Kent
Answered on December 13, 2020 2:25 pm
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