Topic: How To Invest

The Successful Investor Hotline – Friday, May 1, 2020

Article Excerpt

TC ENERGY INC., $63.00, Toronto symbol TRP, is our #1 Income Buy for 2020. 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’s revenue in the three months ended March 31, 2020, fell 2.0%, to $3.42 billion from $3.49 billion a year earlier. That missed the consensus forecast of $3.54 billion. The revenue drop was due to lower crude oil volumes and asset sales. However, without unusual items, TC’s earnings in the quarter improved 12.4%, to $1.11 billion from $987 million. Due to more shares outstanding, earnings per share rose at a slower rate of 10.3%, to $1.18 from $1.07. That beat the consensus estimate of $1.04 a share. TC now plans to spend $43.4 billion on growth projects between 2020 and 2023. The biggest of those is the Keystone XL pipeline, which…

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