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TC Energy Corporation (TRP.TO)
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#$%$ !!17 January 2021 WASHINGTON ? One of Joe Biden's first actions once he becomes U.S. president Wednesday will be to slam the door yet again on Canada's politically fraught Keystone XL pipeline expansion, transition documents suggest.The documents, seen by The Canadian Press, feature a to-do list for inauguration day that includes signing an executive order to rescind the Keystone XL construction permit granted in 2019 by predecessor Donald Trump.They also suggest that despite its best efforts, Canada has failed to convince the incoming administration of the virtues of importing fossil-fuel energy from a friendly ally and trading partner with similar climate change goals."Roll back Trump enviro actions via EO (including rescind Keystone XL pipeline permit)," the document reads.Other entries under the "Climate" heading include, "Rejoin the Paris Agreement" and "Announce date for U.S.-hosted Leaders' Climate Summit."
Should be an interesting Monday open
I’ll prob buy when it hits $25 this week
Doesn’t take much research to understand that although TC is most well known for the Keystone XL pipeline, it doesn’t hold much financial weight.. I am most definitely buying a dip. Below $50 is my 5* price.
read globenewswire recent news update.
So what's going to happen long term?
This is falling at least 30% as a reaction to the decision.
Citi replaced ENB with TRP as favourite Canadian stock pick
Citi energy analyst Timm Schneider has replaced Enbridge with TC Energy as his favourite Canadian stock pick,
By Scott Barlow
Published 1 hour ago
“We are moving TRP to pole position over previously preferred ENB due to 1) ENB’s strong relative outperformance (we believe the stocks will converge given comparable long-term dividend growth trajectory); 2) our continued preference for regulated natural gas leveraged midstream assets overall (despite a still-favorable view on WCS demand); and 3) a modest shift in upside risk favoring TRP post commencement of Line 3 Replacement construction in Minnesota at ENB, on the regulatory front (upcoming Georgia run-off election and a handful of upcoming 2021/22 rate cases among other potential positives) and with the upcoming roll-up of TCP on the horizon.”
His price target is Cdn $50 for Enbridge and Cdn $65 for TC Energy. The stocks closed at $40.82 and $51.28, respectively, on Thursday.
This is worth over $60 and atleast above $55. Undervalued & good time to get in. Bought yesterday for dividend and will continue to hold LONG.
RBC comments: (TRP best 'defensive play')
They have a $72.00 target. GLTA
Pipeline/midstream options to incorporate a measure of defence while retaining upside potential versus regulated utilities; TC Energy (TRP) is the best play, with Gibson Energy (GEI) not far behind. TC Energy’s “utility-like” business and self-funded capital plan should result in its being the defensive pipeline stock of choice for investors globally. We also highlight Gibson Energy, which we believe will act defensively given its high degree of long-term take-or-pay contracting, low balance sheet leverage, solid dividend coverage, and self-funded capital plan".
Does this company pay dividends every month or quarterly
TRP exploded and I missed out because I wasn’t listening to the great folks over at (
). The next big winner won’t miss me. Don’t let it miss you either. Join them now
From Globe and Mail Dec. 16, 2020 (paywall, so posted below)
Though he thinks its US$1.68-billion acquisition of TC Pipelines LP (TCP-N) “does not move the needle in terms of upside,” Industrial Alliance Securities analyst Elias Foscolos raised his rating for TC Energy Corp. (TRP-T) to “strong buy” from “buy” based on its recent trading price.
“We view the stock as one of the most attractively priced in our coverage universe due to its excellent suite of capital projects that excludes the Keystone XL Pipeline, which we believe is priced out of the market and now only provides upside,” he said. “Based on a current projected one-year return of 29 per cent we are upgrading TRP.”
Mr. Foscolos said he sees the updated deal, announced Tuesday, as “attractive” for TC Energy, despite being only mildly accretive, noting: “Our analysis indicates that TRP is offering 8.5 times EV/EBITDA2021 for TCP. Compared to its current trading multiple, which is also below its historical average, we consider the acquisition attractive. We believe that this acquisition has the potential to bring a very modest increase in comparable earnings per share and funds flow per share. TCP’s current asset base, which consists of 90-per-cent long-term contracted revenue streams, has an imbedded $700-million in growth projects in progress with the largest being the Gas Transmission Network (GTN) Xpress pipeline expansion. The GTN Xpress will enhance market access and reliability for growing WCSB supplies and allow additional market penetration along GTN’s system in the Pacific Northwest.”
The analyst thinks the integration of TCP should allow TC Energy to “shift towards a greater weighting in Natural Gas and become less reliant on crude oil transmission.”
“We forecast that the Company’s EBITDA will be 75 per cent comprised of natural gas transmission in 2024 compared to 70 per cent in 2018,” said Mr. Foscolos. “If the KXL is in service by 2023, it is projected to add $1.4-billion in EBITDA and would increase TRP’s exposure to crude oil transmission. Either way, we view this as having positive implications to its share price.”
He maintained a target price of $70 per share. The current average on the Street is $70.48.
“TC has a robust suite of capital projects that will support per share cash flow growth, leading to either dividend increases or alternative energy investments,” said Mr. Foscolos. “The Keystone XL pipeline, which faces opposition on many fronts, is priced out of our model and in our opinion priced out of its current share price. As the Company will not risk shareholder capital until certainty is established, this project only offers further upside.”
NAKED SHORT WILL FILL = SAME AS BUYING, THIS TIME
WILL BE AT A HIGHER PX=UPPER 49$ USD=
GREAT COMPANY, LOW RISK, CANADIANS ARE GIVING THIS
SHARES AT A DISCOUNTED PRICE..LOTS BETTER THAN XOM,
RDSA , ETC
just bought today. This share is one of the safest tsx stocks in the long run
When a blue chip stock sells this low, I buy in. I can't imagine it could possibly go much lower, given it's around covid/March price right now. I would be surprised if it didn't yield a 15% return in a month, and hoping for 20%.
I only have one thing to say since I sold TC Energy:
TC energy is my biggest energy holding after Enbridge. Safe dividend and excellent track record. When it goes on sale, I buy more.
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