Topic: How To Invest

The Successful Investor Hotline – Friday, January 22, 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 92,600-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 10 power plants. The company has stopped work on the Keystone XL pipeline after newly installed 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 first-quarter earnings. The company may pursue legal action against the U.S. government to recoup some of those losses. Meantime, TC continues to work on $25.0 billion in other projects. Most of them are already secured by long-term shipping contracts, which cut their risk. The extra cash flow from its new projects will let TC fulfill its commitment to raise your annual dividend by 8% to…

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