Enbridge or TC Energy: Which Canadian Energy Giant is a Better Buy in 2020?

Both Enbridge (NYSE: ENB) and TC Energy (NYSE: TRP) have a strong track record of dividend and earnings growth. TC Energy has raised its dividend for 19 consecutive years. Enbridge has paid dividends for more than 65 years. While the two stocks look similar on the surface, a deeper dive into the financials reveal that one of them has the potential to generate meaningfully higher returns for investors. 

The two midstream companies have consistently raised their dividends over the years supported by strong earnings growth. However, Enbridge grew earnings at a higher rate in the last five years. Enbridge's earnings adjusted for one-off charges grew at an average rate of roughly 30% over the last five years compared to average growth of 19% for TC Energy. 

Data Source: Enbridge, TC Energy. Chart by author.

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Source Fool.com