We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
TC Energy (TRP) to Claim Damages for Keystone XL Cancellation
Read MoreHide Full Article
TC Energy Corporation (TRP - Free Report) is attempting to reclaim the financial losses, which resulted from the cancellation of the presidential permit for the Keystone XL pipeline project.
Notably, the company submitted a notice of intent to begin a legacy North American Free Trade Agreement (“NAFTA”) claim under the United States-Mexico-Canada Agreement. TC Energy seeks to recover more than $15 billion in damages incurred as a result of violations of its NAFTA obligations by the United States government.
The Keystone pipeline project has been experiencing criticism for the past 12 years, as it is alleged to affect local communities and exacerbate climate change. Hence, the project was terminated last month in response to American President Joe Biden’s decision to suspend the presidential permits to proceed with the pipeline construction.
The $8-billion pipeline was designed to carry crude oil from Alberta’s oil sands to U.S. Gulf Coast refineries. However, the project was opposed by environmental activists in both Canada and the United States as they claimed that the production and extraction of oil from oil sands will release a massive amount of greenhouse gases.
Although the pipeline was expected to be a green pipeline, its operations would have generated 1.44 million metric tons of carbon dioxide per year. Notably, this is equivalent to nearly the annual emissions from 300,000 passenger cars. Therefore, the construction and operation of the pipeline involved risks associated with the water supply and the environment.
TC Energy notified that the project’s suspension will result in several job cuts and hamper economic opportunities for thousands of workers. The company is currently planning to undo the construction, which was already completed. Notably, it will cooperate with regulators, shareholders and indigenous groups to ensure a safe termination and exit from the project.
Company Profile & Price Performance
Headquartered in Calgary, AB, TC Energy is a premier natural gas-focused midstream energy service provider. The company is also involved in other businesses, including power generation, natural gas storage and crude oil pipelines.
Shares of the company have underperformed the industry in the past six months. Its stock has gained 20% compared with the industry’s 24.5% growth.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
The company currently carries a Zack Rank #3 (Hold).
Range Resources’ earnings for 2021 are expected to increase 16.2% year over year.
Baker Hughes’ earnings for 2021 are expected to rise 56.9% year over year.
Repsol’s earnings for 2021 are expected to increase 12.4% year over year.
Time to Invest in Legal Marijuana
If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.
After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%.
You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.
Image: Bigstock
TC Energy (TRP) to Claim Damages for Keystone XL Cancellation
TC Energy Corporation (TRP - Free Report) is attempting to reclaim the financial losses, which resulted from the cancellation of the presidential permit for the Keystone XL pipeline project.
Notably, the company submitted a notice of intent to begin a legacy North American Free Trade Agreement (“NAFTA”) claim under the United States-Mexico-Canada Agreement. TC Energy seeks to recover more than $15 billion in damages incurred as a result of violations of its NAFTA obligations by the United States government.
The Keystone pipeline project has been experiencing criticism for the past 12 years, as it is alleged to affect local communities and exacerbate climate change. Hence, the project was terminated last month in response to American President Joe Biden’s decision to suspend the presidential permits to proceed with the pipeline construction.
The $8-billion pipeline was designed to carry crude oil from Alberta’s oil sands to U.S. Gulf Coast refineries. However, the project was opposed by environmental activists in both Canada and the United States as they claimed that the production and extraction of oil from oil sands will release a massive amount of greenhouse gases.
Although the pipeline was expected to be a green pipeline, its operations would have generated 1.44 million metric tons of carbon dioxide per year. Notably, this is equivalent to nearly the annual emissions from 300,000 passenger cars. Therefore, the construction and operation of the pipeline involved risks associated with the water supply and the environment.
TC Energy notified that the project’s suspension will result in several job cuts and hamper economic opportunities for thousands of workers. The company is currently planning to undo the construction, which was already completed. Notably, it will cooperate with regulators, shareholders and indigenous groups to ensure a safe termination and exit from the project.
Company Profile & Price Performance
Headquartered in Calgary, AB, TC Energy is a premier natural gas-focused midstream energy service provider. The company is also involved in other businesses, including power generation, natural gas storage and crude oil pipelines.
Shares of the company have underperformed the industry in the past six months. Its stock has gained 20% compared with the industry’s 24.5% growth.
Zacks Rank & Stocks to Consider
The company currently carries a Zack Rank #3 (Hold).
Some better-ranked players in the energy space are Range Resources Corporation (RRC - Free Report) , Baker Hughes Company (BKR - Free Report) and Repsol SA (REPYY - Free Report) , each currently carrying a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Range Resources’ earnings for 2021 are expected to increase 16.2% year over year.
Baker Hughes’ earnings for 2021 are expected to rise 56.9% year over year.
Repsol’s earnings for 2021 are expected to increase 12.4% year over year.
Time to Invest in Legal Marijuana
If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.
After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%.
You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.
Today, Download Marijuana Moneymakers FREE >>