Updates on TC Energy Inc., IBM & Encana Corp.

Article Excerpt

TC ENERGY INC. $65.98 (Toronto symbol TRP; Shares outstanding: 927.0 million; Market cap: $59.9 billion; TSINetwork Rating: Above Average; Dividend yield: 4.6%; www.transcanada.com) (formerly TransCanada Corp.) recently agreed to sell 85% of its Northern Courier Pipeline to Alberta Investment Management Corporation (AIMCo). This 90-kolometre pipeline pumps bitumen from the Fort Hills oil sands project to Suncor Energy’s terminal north of Fort McMurray, Alberta. TC Energy will receive $1.15 billion when it completes the sale in the third quarter of 2019. The cash will help the company fund $30.3 billion in new pipelines and other long-term projects. That spending is equal to 50% of its $59.9 billion market cap (the total value of all outstanding shares). TC Energy is a top pick for 2019. IBM $141.54 (New York symbol IBM; Shares outstanding: 886.6 million; Market cap: $124.3 billion; TSINetwork Rating: Above Average; Dividend yield: 4.6%; www.ibm.com) is cutting about 2,000 jobs in a round of layoffs, as the company continues to reshape its business. IBM had 350,600 employees before the…