Topic: How To Invest

The Successful Investor Hotline – Friday, April 12, 2024

Article Excerpt

TC ENERGY INC., $49.73, Toronto symbol TRP, remains a buy. TC generates steady cash flow for investors mainly through a 93,600-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 nine power plants. The company has agreed to sell its stake in Prince Rupert Gas Transmission Holdings Ltd., which is planning to build a 900-kilometre natural gas pipeline in northern B.C. The line will supply gas to the buyers, the Nisga’a First Nation and its partner Western LNG, who are planning to build a liquefied natural gas (LNG) export terminal in Prince Rupert, B.C. TC has not yet said how much it will receive when it completes the sale in the second quarter of 2024. However, the deal advances TC’s plan to sell $3 billion of its less-important assets. It plans to use the proceeds to pay down its long-term debt of $49.98 billion (as of December 31, 2023)…