Advertisement
Canada markets open in 3 hours 27 minutes

  • S&P/TSX

    21,885.38
    +11.66 (+0.05%)
     

  • S&P 500

    5,048.42
    -23.21 (-0.46%)
     

  • DOW

    38,085.80
    -375.12 (-0.98%)
     

  • CAD/USD

    0.7326
    +0.0002 (+0.03%)
     

  • CRUDE OIL

    83.93
    +0.36 (+0.43%)
     

  • Bitcoin CAD

    88,000.71
    +742.46 (+0.85%)
     

  • CMC Crypto 200

    1,391.51
    -5.03 (-0.36%)
     

  • GOLD FUTURES

    2,360.30
    +17.80 (+0.76%)
     

  • RUSSELL 2000

    1,981.12
    -14.31 (-0.72%)
     

  • 10-Yr Bond

    4.7060
    +0.0540 (+1.16%)
     

  • NASDAQ futures

    17,732.25
    +164.75 (+0.94%)
     

  • VOLATILITY

    15.62
    +0.25 (+1.63%)
     

  • FTSE

    8,118.70
    +39.84 (+0.49%)
     

  • NIKKEI 225

    37,934.76
    +306.28 (+0.81%)
     

  • CAD/EUR

    0.6821
    0.0000 (0.00%)
     

TransCanada's (TRP) Cameron Access Project Comes Online

Zacks Equity Research
Updated

TransCanada Corporation TRP recently announced that its Cameron Access project came online in Southwest Louisiana, as the Federal Energy Regulatory Commission upheld the company’s request to commence service of the project. The project is expected to improve the company's capacity to ship natural gas, produced in North America, to the export markets.

Cameron Access Project

The project plan included enhancement of the existing pipeline and installation of a new compressor station. A 36-inch diameter pipeline of 43 kilometers was also placed, per the company. Around $300 million investment in the project has made the pipeline capable of carrying 800 million cubic feet of natural gas a day to the Cameron LNG export facility, which is expected to come online by the end of 2019.

Project Relevance

The project, apart from increasing the midstream company’s fee-based revenues, is expected to generate substantial value for TransCanada's clients. The bi-directional pipeline will enable LNG producers to ship their domestic output to the export market in the U.S. Gulf Coast.

ADVERTISEMENT

Moreover, TransCanada expects the project to be part of reducing carbon emissions. With coal-fired power generation being replaced globally by cleaner energy source, natural gas, the pipeline will help countries in the emerging markets by giving them access to the commodity.

About the Company

Calgary, Canada-based TransCanada is a North American energy infrastructure provider. The company is focused on natural gas transmission and power services. The company's natural gas transmission networks reach more than 91,900 kilometers and strike almost all the major North American gas supply basins.

Price Performance

TransCanada has lost 4.4% in the last year compared with 11% fall of its industry.

 

Zacks Rank and Stocks to Consider

TransCanada has a Zacks Rank #3 (Hold).

A few better-ranked stocks in the oil and energy sector are ConocoPhillips COP, Delek US Holdings, Inc. DK and Continental Resources, Inc. CLR, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Houston, TX-based ConocoPhillips is an upstream energy player. Its revenues for first-quarter 2018 are anticipated to improve 9.6% from the prior-year quarter. The company witnessed a positive average earnings surprise of 144.5% in the trailing four quarters.

Brentwood, TN-based Delek US Holdings is a downstream energy company. Its revenues for 2018 are anticipated to improve 33.1% year over year. The company witnessed a positive earnings surprise of 25% in the fourth quarter of 2017.

Oklahoma City, OK-based Continental Resources is an oil and gas exploration and production company. Its revenues for first-quarter 2018 are expected to improve 53.8% from the year-ago quarter. For 2018, the bottom line is anticipated to be up 360.8%.

Can Hackers Put Money INTO Your Portfolio?

Earlier this month, credit bureau Equifax announced a massive data breach affecting 2 out of every 3 Americans. The cybersecurity industry is expanding quickly in response to this and similar events. But some stocks are better investments than others.

Zacks has just released Cybersecurity! An Investor’s Guide to help Zacks.com readers make the most of the $170 billion per year investment opportunity created by hackers and other threats. It reveals 4 stocks worth looking into right away.

Download the new report now>>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Delek US Holdings, Inc. (DK) : Free Stock Analysis Report
 
TransCanada Corporation (TRP) : Free Stock Analysis Report
 
Continental Resources, Inc. (CLR) : Free Stock Analysis Report
 
ConocoPhillips (COP) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research