These safety-conscious stocks remain buys

Article Excerpt

TC ENERGY INC., $61.60, is a buy. The company (Toronto symbol TRP; Shares outstanding: 978.2 million; Market cap: $59.7 billion; TSINetwork Rating: Above Average; Dividend yield: 5.7%; www.tcenergy.com) generates steady cash flow for investors mainly through a 93,300-kilometre pipeline network that pumps natural gas from Alberta to eastern Canada and the U.S. Its other operations include 4,900 kilometres of crude oil pipelines and seven power plants. The company is now looking at ways to power its U.S. oil and gas pipelines with electricity from renewable sources such as wind and solar facilities. That could involve deals to buy power from renewable producers, or direct equity investments. TC could spend up to $1 billion U.S. on this initiative over the next few years. To put that figure in context, its current market cap is $58.3 billion (Canadian). However, these investments would help the company comply with the Biden administration’s increasingly stringent environmental regulations. TC Energy is a buy. BANK OF NOVA SCOTIA $78.83 (Toronto symbol…

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