TRP seeks compensation

Article Excerpt

TC ENERGY INC., $60.95, is a buy. The company (Toronto symbol TRP; Shares outstanding: 979.0 million; Market cap: $59.9 billion; TSINetwork Rating: Above Average; Dividend yield: 5.7%; www.tcenergy.com.) is now seeking $15 billion U.S. in damages under the U.S.-Mexico-Canada trade agreement from the U.S. government. That follows the January 2021 decision by President Joe Biden to revoke the permit for TC’s proposed Keystone XL pipeline; it would have pumped crude from Alberta to U.S. Gulf Coast refineries. For the suit to succeed, TC must prove it was treated unfairly or differently than an American company would have been. But even if the lawsuit fails, it would have little impact on the company’s long-term prospects. TC continues to develop $20 billion of new pipelines and other projects. It expects most of these new assets will begin operating between 2021 and 2024. They are also secured by long-term contracts, which cut investor risk. TC Energy is still a buy. buy…