Topic: How To Invest

The Successful Investor Hotline – Friday, February 17, 2023

Article Excerpt

TC ENERGY INC., $56.84, Toronto symbol TRP, remains a buy. TC generates steady cash flow for investors mainly through a 93,700-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 continues to benefit from rising oil and gas prices, which have spurred demand for space on its pipelines. It also placed $5.8 billion worth of new projects into service in 2022. As a result, revenue in the fourth quarter ended December 31, 2022, rose 12.8%, to $4.04 billion from $3.58 billion a year earlier. That topped the consensus forecast of $3.80 billion. The higher revenue also lifted earnings by 9.8%, to $1.13 billion from $1.03 billion. Due to more shares outstanding, earnings per share rose at a slower rate of 5.7%, to $1.11 from $1.05. Those figures exclude several non-recurring items, such as costs to repair and clean up an oil spill from its…