TC Energy (TRP-T)

Defensive. Pays a 4.8% dividend. Natural gas demand will endure. No tariff worries. Data centres need power, and he doubts tariffs will impact Canadian energy supply.

Great run second half last year, has gone sideways since then. Now breaking out above $68, which is quite positive. It's had lots of time to digest and consolidate.

It oversold for a while and is not a fast growing company but data centres need gas to provide their demands for electricity. Pipelines are good for recession and TRP is up 4% since Feb.19.

This is the one he likes in the space. Part of its business is very utility-like. Steady dividend, which will rise over time. Dividend also looks attractive in the face of an economic slowdown when interest rates would fall. Hold for the long haul.

More pipeline builds would certainly be an opportunity for growth for this name, but that's not why he owns it.

Likes the pipeline space for income, and this one is fine. She owns PPL instead, and see her Top Picks.

A great business, good valuations, pays under a 5% dividend.

Likes it short and long term. They touch 30% of all LNG and 25% natural gas in North America. There was data centre hype in this stock, but faded after DeepSeek last week. Pays a 5% dividend yield. Likes it more after spinning off South Bow, a pure play natural gas company.

Lightening up on TRP to diversify makes sense, as long as you aren't paying capital gains tax and it's in a registered account. KEY works well from here, and PPL slightly better.

For the past 6 months, the chart has been sharply up. Pays a lovely yield. He would add at current levels. Strong technicals. He likes pipelines. Energy should do fine at least for the first half of 2025.

Even if that were to happen, you'd want to put your exposure to energy in the pipelines. We are going to see increased volumes, barring a recession in the States or NA. Fantastic news for pipelines. Not worried so much about what the price actually is, the way a driller or downstream producer would be. Relatively decent dividend.

Interest rates will keep falling and therefore benefit pipeline and utility stocks. Dividend growth will be slower in the next 5 years vs. the past 5. Pipelines are a solid dividend play with some growth.

The total return includes a big dividend. It has rallied on interest rate cuts and has also benefited from the euphoria around data centres which consume a lot of power. The main source of immediate energy needs over the next ten years is natural gas since nuclear and renewables will take time to build out.

Had the specific catalyst of breaking apart with the SOBO spinoff, which unlocked value.

Can be a core name. After the split, the growth assets and those with better potential were assigned to TRP. SOBO got the oil pipelines, which are great for the dividend, but no growth. 

He looks at capex programs going forward and how much they're investing in infrastructure. More infrastructure means more cashflow and, hopefully, more dividend increases.