Topic: How To Invest

The Successful Investor Hotline – Friday, February 18, 2022

Article Excerpt

TC ENERGY INC., $66.81, Toronto symbol TRP, remains a buy for long-term gains and income. TC generates steady cash flow for investors mainly through 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 continues to benefit from rising oil and gas prices, which have spurred demand for space on its pipelines. It also placed $4.1 billion worth of new projects into service in 2021. As a result, TC’s revenue in the quarter ended December 31, 2021, rose 8.7%, to $3.58 billion from $3.30 billion a year earlier. That also topped the consensus forecast of $3.54 billion. However, the company’s earnings before unusual items fell 4.2%, to $1.06 a share from $1.15. That still beat the consensus estimate of $1.05. The drop was mainly due lower earnings from its gas pipelines in Mexico and gas storage operations. Those declines offset strong results…