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One of the most popular dividend stocks on the TSX is TC Energy (TSX:TRP). Valued at a market cap of $51.6 billion, TC Energy is among the largest companies in Canada and transports 25% of the gas required in North America.
With $125 billion in total assets, TC Energy stock has returned 11% annually to shareholders, showcasing the resiliency of its business model and cash flows. Despite its outsized gains, TC Energy stock offers shareholders a tasty dividend yield of 7.7% given it pays shareholders an annual dividend of $3.84 per share.
Let’s see if you should buy TC Energy stock at its current valuation.
TC Energy stock is down 35% from all-time highs
In the last two years, capital-intensive companies such as TC Energy have trailed the broader markets by a wide margin as higher interest rates have narrowed profit margins and cash flows, driving stock valuations lower for companies part of sectors such…
