5 Canadian Dividend Stocks to Buy for 2022

3. TC Energy Corporation (NYSE:TRP)

Dividend Yield: 15
Dividend Yield: 5.98%         

TC Energy Corporation (NYSE:TRP) is a Canadian energy company that also deals in natural gas and liquid pipelines. The company remains one of the best Canadian dividend stocks to buy, as, over the five years, it has increased its dividend at a CAGR of 10%. Currently, TC Energy Corporation (NYSE:TRP) pays a quarterly dividend of $0.87 per share, with a dividend yield of 5.98%.

In Q3, TC Energy Corporation (NYSE:TRP) posted an EPS of C$0.99, in line with the estimates. Moreover, the company also announced $1 billion in comparable earnings, up significantly from $79 million from the same period last year. Recently, TD Securities set a C$72 price target on TC Energy Corporation (NYSE:TRP), while maintaining a Buy rating on the shares.

At the end of Q3, the number of hedge funds having stakes in TC Energy Corporation (NYSE:TRP) decreased to 15, from 22 in the previous quarter. The value of these stakes is over $84 million. Heathbridge Capital Management was one of the company’s largest shareholders, holding a stake worth $31.3 million.