TC PipeLines Keeps It Coming
Calgary, Alberta-based TC PipeLines, L.P. (TCLP - Analyst Report) is a master limited partnership (MLP), with interests in three pipeline systems: the Northern Border Pipeline Company (NBPL), the Tuscarora Gas Transmission Company, and the recently acquired Great Lakes Gas Transmission, L.P.
Our continued positive view of TCLP units reflects the partnership's strong distribution-growth prospects, attractive valuation and stable financial and liquidity profile. We continue to like the partnership for its steady cash-flow generating pipeline assets that continue to provide it with the stability and financial capacity to deliver cash distributions in a disciplined manner.
We believe that the potential addition of quality assets over the next few quarters from its general partner is another positive for the partnership.