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TC Energy Corp T.TRP

Alternate Symbol(s):  T.TRP.PR.A | TCEYF | TRPEF | T.TRP.PR.B | TCANF | T.TRP.PR.C | TRPPF | T.TRP.PR.D | TRPRF | T.TRP.PR.E | TNCAF | T.TRP.PR.F | TCNCF | T.TRP.PR.G | TCENF | T.TRP.PR.H | T.TRP.PR.I | TRP | T.TRP.PR.L

TC Energy Corporation is a Canada-based energy problem solver working to move, generate and store the energy in North America. The Company's segments include Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines and Mexico Natural Gas Pipelines, and Power and Energy Solutions. The Company's business includes Energy Solutions, Natural Gas, and Power and Storage. The Natural Gas business includes its 93,600 kilometers (km) (58,100 miles) network of natural gas pipelines, which supplies more than 30 % of the clean-burning natural gas consumed daily across North America to heat homes, fuel industries and generate power. The Company’s energy infrastructure assets include investments in approximately 10 power-generation facilities with a combined generating capacity of approximately 4,600 megawatts (MW). The Company offers solutions across energy efficiency, renewable power, green feedstocks, and sequestration.


TSX:TRP - Post by User

Post by zack50on Dec 02, 2021 10:18am
348 Views
Post# 34189661

From G & M...

From G & M...

Following its Investor Day event on Wednesday, iA Capital Markets analyst Matthew Weekes assumed coverage of TC Energy Corp. (TRP-T +0.84%increase), maintaining the firm’s “buy” recommendation for its shares after emphasizing its “substantial” capital growth program and “right-sized” dividend growth rate.

“TRP highlighted an overall CAGR [compound annual growth rate] in EBITDA of 5 per cent (iA estimate of 4.8 per cent) through 2026,” he said. “ Key highlights are that the Power segment is expected to grow at roughly double the corporate average, the Natural Gas segment is expected to grow at approximately the corporate average, while the Canadian Natural Gas and Liquids Pipelines segments will likely experience growth below the corporate average. Based on the Company’s projections, by 2026 EBITDA is expected to be $11.8-billion. By 2026, Canadian and U.S. Natural Gas Pipelines should account for approximately two-thirds of EBITDA, which is similar to today’s share.”

“The Company also highlighted its $29-billion growth program. The segments that will consume the largest proportion of capital will be US Natural Gas, Canadian Natural Gas, and Power. Also, investors should feel highly confident that additional projects will be announced next year.”

TRP also reiterated its dividend growth outlook of 3-5 per cent, falling from a projection of 5-7 per cent last year. Mr. Weekes pegged the decline of the decline to the demise of the Keystone XL Pipeline, which caused a “significant” loss of near-term EBITDA growth.

“While a dividend growth rate in excess of 5 per cent was possible, it was aggressive,” he said.

After slight reductions to his 2022 estimates and in response to a recent decline in equity prices, Mr. Weekes trimmed the firm’s target for TRP shares to $66 from $70. The average on the Street is $67.95.

Elsewhere, CIBC World Markets analyst Robert Catellier trimmed his target to $72 from $74 with an “outperformer” rating.

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