5 Best Canadian Dividend Stocks to Buy Now

2. TC Energy Corporation (NYSE: TRP)

Number of Hedge Fund Holders: 25
Dividend Yield: 5.84%

TC Energy Corporation (NYSE: TRP), an energy infrastructure company operating in North America and based in Calgary, Canada, ranks 2nd on our list of the best Canadian dividend stocks to buy now. It operates through its Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, and Power and Storage segments.

Robert Catellier, an analyst at CIBC, raised his price target on TC Energy Corporation (NYSE: TRP) this June from $55.66 to $58.84. Catellier also holds an Outperformer rating on TC Energy Corporation (NYSE: TRP) shares.

In the first quarter of 2021, TC Energy Corporation (NYSE: TRP) had an EPS of $0.96, beating estimates by $0.05. The company’s revenue was $2.79 billion, up 14.61% year over year and beating the previous quarter’s revenue of $2.60 billion. TC Energy Corporation (NYSE: TRP) has also gained 14.43% in the past 6 months and 19.64% year to date.

By the end of the first quarter of 2021, 25 hedge funds out of the 866 tracked by Insider Monkey held stakes in TC Energy Corporation (NYSE: TRP) worth roughly $429 million. This is compared to 19 hedge funds in the previous quarter with a total stake value of approximately $249 million.