Topic: How To Invest

The Successful Investor Hotline – Friday, June 19, 2020

Article Excerpt

TC ENERGY INC., $59.33, Toronto symbol TRP, is our #1 Income Buy for 2020. The company 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. TC now plans to spend $43.4 billion on growth projects between 2020 and 2023. To put that plan in context, the company’s market cap (the total value of all outstanding shares) is $55.8 billion. The biggest of those new projects is the Keystone XL pipeline, which would pump crude from Alberta to U.S. Gulf Coast refineries. It would also double the capacity of the company’s existing Keystone pipeline system. Keystone XL will cost $9.1 billion U.S. Alberta’s provincial government recently agreed to invest $1.1 billion U.S. for an equity stake in the project. The province will also provide $4.2 billion U.S. in loans. After the new pipeline begins operations, TC…