Topic: How To Invest

The Successful Investor Hotline – Friday, February 19, 2021

Article Excerpt

TC ENERGY INC., $56.39, Toronto symbol TRP, remains a buy for long-term gains and income. TC 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 10 power plants. The company recently stopped work on the Keystone XL pipeline after U.S. President Joe Biden revoked the project’s permit. The pipeline would have pumped crude from Alberta to U.S. Gulf Coast refineries. TC now expects to record a “substantive,” mostly non-cash writedown against its 2021 first-quarter earnings. Note that it may pursue legal action against the U.S. government to recoup some of those losses. Meantime, the company’s other businesses continue to operate normally despite the COVID-19 pandemic. It also started up $5.9 billion of new projects in 2020. TC’s revenue in the quarter ended December 31, 2020, rose 1.0%, to $3.30 billion from $3.26 billion a year earlier. Even so, that…

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