Pipeline stocks give you dependable income

Article Excerpt

Pipeline operators TC Energy and Enbridge remain great picks for income-seeking investors. Rising oil demand as the economy re-opens—along with their new projects—will boost their cash flow and dividends. TC ENERGY CORP. $63 is a buy. The company (Toronto symbol TRP; Conservative Growth and Income Portfolios, Utilities sector; Shares outstanding: 981.0 million; Market cap: $61.8 billion; Price-to-sales ratio: 4.3; Dividend yield: 5.5%; TSINetwork Rating: Above Average; www.tcenergy.com) operates 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 seven power plants. The company has formally launched a complaint under the U.S.-Mexico-Canada trade agreement over the U.S. government’s cancellation of its proposed Keystone XL pipeline in January 2021. Keystone XL would have pumped crude from Alberta to U.S. Gulf Coast refineries. TC is seeking $15 billion U.S. in damages. For the suit to succeed, it must prove it was treated unfairly or differently than an American company would have been…