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TC Energy (TRP) Announces C$1B Deal With Canada-Based NLE
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TC Energy Corporation (TRP - Free Report) announced that it entered an agreement with Canada’s indigenous group, Natural Law Energy (“NLE”). The agreement permits the latter to invest up to C$1 billion in TC Energy’s Keystone XL Pipeline project underway in Canada despite opposition from U.S. President-elect Joe Biden.
The transaction’s initial phase is expected to end in the third quarter of the next year. The project had to cope with multiple oppositions from various U.S. landowners, environmental and indigenous groups as it is thought to worsen climatic fluctuations and add to greenhouse gas emissions.
TC energy is proceeding with the construction of the cross-border project, following the NLE investment in spite of Biden’s vow to stop the pipeline by revoking Keystone XL’s permit in the U.S. The midstream service also believes that the NLE agreement will lead to employment generation and support from the indigenous group, which might fit well into the incoming Biden administration’s Build Back Better plan. The project is expected to enter into operation in 2023.
The pipeline system, proposed in 2008, is expected to deliver up to 830,000 barrels of oil per day from Alberta to Nebraska. Importantly, the partnership will provide valuable contributions from NLE on the project, thereby, making Keystone XL the most sustainable and secured pipeline system ever made. Beside this, it will enable the realization of long-term economic benefits obtained from NLE’s investment.
The company constructed about 200 kilometers of pipeline since the project’s approval last March. It intends to enhance the construction process in early 2021 by employing about 15,000 people compared with 3,000 now. As the project advances, TC Energy will create additional opportunities for the future generation, both in Canada and the United States.
On its part, the company believes that the job-creations and support by local investors will assure Biden that the pipeline fits into his “Build Back Better” agenda for a safe, secure and booming energy future.
Company Profile & Price Performance
Headquartered in Calgary, AB, TC Energy is a premier natural gas-focused midstream energy service provider. Its shares have outperformed the industry in the past six months. The energy company’s stock has lost 2.5% compared with the industry’s 2.9% decline.
Zacks Rank & Stocks to Consider
TC Energy currently carries a Zack Rank #3 (Hold).
Some better-ranked players in the energy space are HighPoint Resource Corporation and DCP Midstream Partners, LP , each currently sporting a Zacks Rank #1 (Strong Buy), and Enerplus Corporation (ERF - Free Report) , carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 60 days, the Zacks Consensus Estimate for HighPoint Resource’s 2020 earnings has been raised by 17.2%.
DCP Midstream is expected to see earnings growth of 183.4% in 2021, while Enerplus is likely to see earnings growth of 400% next year.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
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TC Energy (TRP) Announces C$1B Deal With Canada-Based NLE
TC Energy Corporation (TRP - Free Report) announced that it entered an agreement with Canada’s indigenous group, Natural Law Energy (“NLE”). The agreement permits the latter to invest up to C$1 billion in TC Energy’s Keystone XL Pipeline project underway in Canada despite opposition from U.S. President-elect Joe Biden.
The transaction’s initial phase is expected to end in the third quarter of the next year. The project had to cope with multiple oppositions from various U.S. landowners, environmental and indigenous groups as it is thought to worsen climatic fluctuations and add to greenhouse gas emissions.
TC energy is proceeding with the construction of the cross-border project, following the NLE investment in spite of Biden’s vow to stop the pipeline by revoking Keystone XL’s permit in the U.S. The midstream service also believes that the NLE agreement will lead to employment generation and support from the indigenous group, which might fit well into the incoming Biden administration’s Build Back Better plan. The project is expected to enter into operation in 2023.
The pipeline system, proposed in 2008, is expected to deliver up to 830,000 barrels of oil per day from Alberta to Nebraska. Importantly, the partnership will provide valuable contributions from NLE on the project, thereby, making Keystone XL the most sustainable and secured pipeline system ever made. Beside this, it will enable the realization of long-term economic benefits obtained from NLE’s investment.
The company constructed about 200 kilometers of pipeline since the project’s approval last March. It intends to enhance the construction process in early 2021 by employing about 15,000 people compared with 3,000 now. As the project advances, TC Energy will create additional opportunities for the future generation, both in Canada and the United States.
On its part, the company believes that the job-creations and support by local investors will assure Biden that the pipeline fits into his “Build Back Better” agenda for a safe, secure and booming energy future.
Company Profile & Price Performance
Headquartered in Calgary, AB, TC Energy is a premier natural gas-focused midstream energy service provider. Its shares have outperformed the industry in the past six months. The energy company’s stock has lost 2.5% compared with the industry’s 2.9% decline.
Zacks Rank & Stocks to Consider
TC Energy currently carries a Zack Rank #3 (Hold).
Some better-ranked players in the energy space are HighPoint Resource Corporation and DCP Midstream Partners, LP , each currently sporting a Zacks Rank #1 (Strong Buy), and Enerplus Corporation (ERF - Free Report) , carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 60 days, the Zacks Consensus Estimate for HighPoint Resource’s 2020 earnings has been raised by 17.2%.
DCP Midstream is expected to see earnings growth of 183.4% in 2021, while Enerplus is likely to see earnings growth of 400% next year.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>