TRP has a new name

Article Excerpt

TC ENERGY INC. $66.20 (Toronto symbol TRP; Shares outstanding: 923.2 million; Market cap: $61.3 billion; TSINetwork Rating: Above Average; Dividend yield: 4.5%; www.transcanada.com) is the new name for TransCanada Corp. (the trading symbol “TRP” remains unchanged). The company operates a 91,900-kilometre pipeline network that pumps natural gas from Alberta to eastern Canada and the U.S. Other operations include 4,900 kilometres of crude oil pipelines and 11 power plants. TC Energy continues to move ahead with longer-term projects totalling $30.3 billion. Separately, if it can overcome legal obstacles in Montana and Nebraska, the company could soon begin work on the $8.0 billion U.S. Keystone XL pipeline. That 1,900-kilometre pipeline would pump crude oil from Alberta to refineries on the U.S. Gulf Coast. Even outside of Keystone XL, the additional cash flow from new projects will let TC Energy raise its dividend 8% to 10% annually through 2021. The shares now yield a high 4.5%. TC Energy is a top pick for 2019. 2019…