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TransCanada Corp. (NYSE: TRP) posted earnings per share (EPS) of $0.72 last quarter – well above Wall Street’s projected $0.62. This marks a 24.1% increase from the year-ago EPS of $0.58. Fourth quarter revenue reached $2.62 billion, beating Wall Street’s $2.58 billion projection and Q4 2013’s $2.33 billion.
All of this while oil prices sink lower and lower. “Looking forward, the resiliency of our business model and a strong balance sheet leaves us well positioned to continue to create shareholder value under various market conditions,” TransCanada president and CEO Russ Girling said in a press release.
TRP stock also offers reliable dividend growth. The company has raised its annual dividend from $0.80 to $2.08 over the last 15 years. TransCanada expects to increase its dividend by 8% per year through 2017.