Enbridge vs. TC Energy Stock: How I’d Split $12,000 Between Pipeline Dividend Giants

Investing in blue-chip TSX dividend stocks such as Enbridge and TC Energy is a good strategy for income-seekers in 2025. Pipeline stocks, such as TC Energy (TSX:TRP) and Enbridge (TSX:ENB), offer investors a combination of income stability and growth potential. The two Canadian energy giants operate critical infrastructure that forms the backbone of North America’s energy system. These pipeline networks safely deliver natural gas and liquid fuels that power homes, businesses, and the broader economy. What makes pipeline companies attractive investments is their fee-based business model, which generates consistent revenue regardless of fluctuations in commodity prices. Enbridge stands out as a premier pipeline operator, controlling the world’s longest crude oil transportation system and moving 30% of North America’s oil production. It has demonstrated remarkable consistency with 30 consecutive annual dividend increases as of 2025. Its diversified assets include natural gas pipelines that carry 20% of U.S. consumption and a growing renewable energy portfolio focused on offshore wind. Similarly, TC Energy’s extensive pipeline network delivers 25% of North America’s natural gas demand. It has raised its dividend for 25 consecutive years, supported by a substantial backlog of expansion projects. Both companies combine defensive characteristics with growth potential. Their essential infrastructure generates reliable cash flows that support above-average dividend yields. So, let’s see why you should invest in these TSX dividend stocks right now. Is Enbridge stock a good buy in 2025? During its recent investor day presentation, Enbridge showcased its strategic positioning across four core businesses. Further, Enbridge emphasized its ability to capitalize on growing energy demand across all forms. CEO Greg Ebel highlighted a $50 billion opportunity that extends growth through the end of the decade. The Liquids Pipelines segment announced $2 billion in Mainline reinvestments to optimize utilization and reliability. Management noted that Mainline continues to transport record volumes, reinforcing its critical role in North American energy infrastructure. The growing Permian business and expansion of the Ingleside export facility further strengthen Enbridge’s position in crude transport and exports. Enbridge presented a $23 billion opportunity in Gas Transmission, driven by LNG (liquefied natural gas) exports, power generation, and data center growth. Enbridge highlighted its strategic connectivity to every LNG facility on the US Gulf Coast and its leading position in offshore gas infrastructure. Gas Distribution stands to benefit from electrification trends with the potential for $3 billion in annual capital deployment through the decade. The business doubled its utility footprint with the acquisition of three U.S. utilities in 2024. The Renewable Power segment continues to deliver double-digit growth with attractive returns from projects with blue-chip customers, including Toyota, Amazon, and AT&T. CFO Patrick Murray emphasized the company’s ability to self-fund $9 billion to $10 billion annually while maintaining its investment-grade balance sheet. Management projects 5% average annual growth through 2030, supporting its 30-year track record of dividend increases while targeting double-digit total shareholder returns. The bull case for the TSX dividend stock TC Energy continues to solidify its status as a leading natural gas infrastructure provider following its strategic spinoff of the Liquids Pipelines business in October 2024. TC Energy now operates through two core businesses: Natural Gas Pipelines and Power and Energy Solutions. With an extensive 93,700-kilometre (58,200-mile) network spanning Canada, the U.S., and Mexico, TC Energy safely transports almost a third of North America’s daily natural gas demand, connecting low-cost production basins to premium markets and LNG export facilities. This unrivalled geographical diversification positions it as the only natural gas infrastructure operator with critical assets in all three North American countries. In 2024, TC Energy placed approximately $6.8 billion of projects into service, including natural gas pipeline capacity expansions and equity contributions to the now-completed Coastal GasLink pipeline, which establishes Canada’s first direct path to global LNG markets. It also invested $2.3 billion in maintenance capital and placed $300 million of modernization capital into service. Looking ahead, TC Energy has secured a $25 billion capital program focused on commercially supported, long-life infrastructure assets backed by creditworthy counterparties and regulated business models. The Foolish takeaway Both Enbridge and TC Energy remain top investments for income seekers in 2025. At the time of writing, Enbridge offers a forward yield of 5.7%, while this figure for TC Energy stands at 5.4%. The two energy heavyweights should maintain and even increase their payouts in the upcoming decade, enhancing the yield at cost over time. Given these factors, long-term Canadian investors should consider investing a total of $12,000, split equally between the pipeline giants.