Our updates for safety-conscious investors: TC Energy, TD Bank & Great-West LifeCo

Article Excerpt

TC ENERGY INC., $55.39, is a buy. The company (Toronto symbol TRP; Shares o/s: 1.0 billion; Market cap: $55.3 billion; TSINetwork Rating: Above Average; Dividend yield: 7.2%; www.tcenergy.com) operates a pipeline network that pumps natural gas from Alberta to eastern Canada and the U.S. Its other operations include crude oil pipelines and nine power plants. Despite strong opposition from politicians and environmentalists, U.S. regulators recently approved TC’s plan to expand capacity on its Gas Transmission Northwest pipeline by 6%. This 2,216-kilometre line began operating in 1961 and transports natural gas from Western Canada to customers in Washington, Oregon and California. TC expects to spend $100 million on this upgrade, which should begin operating in 2024. Meanwhile, the company still plans to spin off its oil pipelines division as South Bow Corp. in 2024. The remaining operations will retain the TC Energy name and consist of its natural gas pipelines and electrical power generating stations. TC Energy is a buy. TD BANK, $80.61, (Toronto symbol TD; Shares outstanding: 1.8 billion;…