TC works to cut greenhouse gases

Article Excerpt

TC ENERGY CORP. $62 is a buy. The company (Toronto symbol TRP; Conservative Growth and Income Portfolios, Utilities sector; Shares outstanding: 939.0 million; Market cap: $58.2 billion; Price-to-sales ratio: 4.6; Dividend yield: 5.6%; TSINetwork Rating: Above Average; www.tcenergy.com) has formed a new alliance with Irving Oil Limited. The two companies plan to work on new ways to reduce greenhouse gas emissions at Irving’s refinery in Saint John, New Brunswick. It’s likely TC will construct a new facility that will use the refinery’s emissions to generate electrical power. That’s in addition to its existing Grandview Cogeneration station inside the Saint John refinery. Cogeneration involves recovering heat that is created in the initial generating process and recycling it to produce more electricity. Grandview began operating in 2005. This alliance with Irving should help both firms comply with increasingly stringent environmental regulations. TC Energy is a buy. buy…