TC Energy

TRP-T

TSE:TRP

62.05
0.64 (1.04%)
TC Energy is a major North American energy company, based in Calgary, Alberta, in Canada, that develops and operates energy infrastructure in North America. The company operates three core businesses: Natural Gas Pipelines, Liquids Pipelines and Energy. In May 2019, the company changed its name from TransCanada Corporation to TC Energy to better reflect the company's business, which includes pipelines, power generation and energy storage operations in Canada, the United States and Mexico.
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Analysis and Opinions about TRP-T

Signal
Opinion
Expert
PAST TOP PICK
PAST TOP PICK
January 27, 2017

(A Top Pick Nov 11/16. Up 7.43%.) This has done well on the back of the Keystone XL story. Moving forward, that opportunity should unlock more growth for the company. Canadians badly need a pipeline to the West Coast.

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TC Energy (TRP-T)
January 27, 2017

(A Top Pick Nov 11/16. Up 7.43%.) This has done well on the back of the Keystone XL story. Moving forward, that opportunity should unlock more growth for the company. Canadians badly need a pipeline to the West Coast.

COMMENT
COMMENT
January 18, 2017

Enbridge (ENB-T) or TransCanada (TRP-T)? These are both great stocks. Enbridge is a little more expensive at 24X with this one at about 22X. This has some issues on Line 3 with regulators in the US, as to whether or not it goes through. Both have good growth, but Enbridge has the better growth over the next couple of years. He likes the Keystone element and thinks Trump is going to put that through.

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TC Energy (TRP-T)
January 18, 2017

Enbridge (ENB-T) or TransCanada (TRP-T)? These are both great stocks. Enbridge is a little more expensive at 24X with this one at about 22X. This has some issues on Line 3 with regulators in the US, as to whether or not it goes through. Both have good growth, but Enbridge has the better growth over the next couple of years. He likes the Keystone element and thinks Trump is going to put that through.

COMMENT
COMMENT
January 16, 2017

TransCanada (TRP-T) or Enbridge (ENB-T) for a 10-year hold? Both companies have done something very interesting by making big US acquisitions. He likes Enbridge because he thinks there is some very good growth and management has been spectacular. Management in this one has not been as consistent.

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TC Energy (TRP-T)
January 16, 2017

TransCanada (TRP-T) or Enbridge (ENB-T) for a 10-year hold? Both companies have done something very interesting by making big US acquisitions. He likes Enbridge because he thinks there is some very good growth and management has been spectacular. Management in this one has not been as consistent.

TOP PICK
TOP PICK
December 23, 2016

Great management team. Reasonable valuation to the peer group. There is going to be a lot of pipeline that he is expecting to come online in the next number of years. There is about $25 billion of infrastructure that has been spent, and will be coming online, probably within the next 2 years. There is another $45 billion that is likely coming on in the next 5 years from there. A huge amount of growth in that space. The company has said that they are likely to increase dividends at a 10% clip over the next 5 years. We are also likely going to see Keystone approved. Dividend yield of 3.64%. (Analysts’ price target is $68.31.)

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TC Energy (TRP-T)
December 23, 2016

Great management team. Reasonable valuation to the peer group. There is going to be a lot of pipeline that he is expecting to come online in the next number of years. There is about $25 billion of infrastructure that has been spent, and will be coming online, probably within the next 2 years. There is another $45 billion that is likely coming on in the next 5 years from there. A huge amount of growth in that space. The company has said that they are likely to increase dividends at a 10% clip over the next 5 years. We are also likely going to see Keystone approved. Dividend yield of 3.64%. (Analysts’ price target is $68.31.)

HOLD
HOLD
December 19, 2016

Similar seasonality to oil. The stock has formed a trading range for the last 6 months. If it breaks the trading range it should get to $69, but wait for a confirmation of a breakout where it getting above the resistance level around $61.

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TC Energy (TRP-T)
December 19, 2016

Similar seasonality to oil. The stock has formed a trading range for the last 6 months. If it breaks the trading range it should get to $69, but wait for a confirmation of a breakout where it getting above the resistance level around $61.

BUY WEAKNESS
BUY WEAKNESS
December 9, 2016

Probably one of the beneficiaries of the Trump’s presidency. Trading a lot cheaper than Endbridge at about 8.5%. Just had a large issuance that was slightly dilutive. Their payout ratio is about 47%, while their peers are at about 70%. Thinks they are capable of dividend growth of 8%-10% each and every year through 2025. On a little bit of a pullback you want to be constructive on this.

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TC Energy (TRP-T)
December 9, 2016

Probably one of the beneficiaries of the Trump’s presidency. Trading a lot cheaper than Endbridge at about 8.5%. Just had a large issuance that was slightly dilutive. Their payout ratio is about 47%, while their peers are at about 70%. Thinks they are capable of dividend growth of 8%-10% each and every year through 2025. On a little bit of a pullback you want to be constructive on this.

COMMENT
COMMENT
December 2, 2016

Will Canadian large cap bilateral companies move to the US with Trump’s dropping of corporate taxes by 15%? These are things that are over the horizon. If it begins to go that way, the Canadian government will have to react. Canada has managed to be lower than the US previously, and we don’t seem to be that concerned about deficits. We have to be competitive with the US on things like this. Thinks our government will react. Feels this company is going to be a big beneficiary of Trump.

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TC Energy (TRP-T)
December 2, 2016

Will Canadian large cap bilateral companies move to the US with Trump’s dropping of corporate taxes by 15%? These are things that are over the horizon. If it begins to go that way, the Canadian government will have to react. Canada has managed to be lower than the US previously, and we don’t seem to be that concerned about deficits. We have to be competitive with the US on things like this. Thinks our government will react. Feels this company is going to be a big beneficiary of Trump.

TOP PICK
TOP PICK
November 11, 2016

The key story here is that they have repositioned the portfolio fairly recently. Made an acquisition, raised some capital, and are going to lock in 8%-10% dividend growth through 2020. Dividend yield of 3.84%. The type of company you just buy and put in your portfolio, and it will continue to reward. (Analysts’ price target is $67.13.)

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TC Energy (TRP-T)
November 11, 2016

The key story here is that they have repositioned the portfolio fairly recently. Made an acquisition, raised some capital, and are going to lock in 8%-10% dividend growth through 2020. Dividend yield of 3.84%. The type of company you just buy and put in your portfolio, and it will continue to reward. (Analysts’ price target is $67.13.)

PAST TOP PICK
PAST TOP PICK
November 9, 2016

*Short* half of pairs trade (Top Pick Sept 15/16, Up 1.60%) It is a very levered company. It is excessively valued. This does not make sense in a rising rate environment. The story is Keystone XL, but it would require a lot of Cap-X.

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TC Energy (TRP-T)
November 9, 2016

*Short* half of pairs trade (Top Pick Sept 15/16, Up 1.60%) It is a very levered company. It is excessively valued. This does not make sense in a rising rate environment. The story is Keystone XL, but it would require a lot of Cap-X.

COMMENT
COMMENT
November 4, 2016

(Market Call Minute.) Most pipeline stocks are selling at very high multiples right now, but they tend to produce very great cash flow, of which they pay a lot out to shareholders. If you think some of these pipelines are going to be approved in Canada, which he does, it is reasonable to hold onto them, because in the meantime you can live with a yield they produce.

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TC Energy (TRP-T)
November 4, 2016

(Market Call Minute.) Most pipeline stocks are selling at very high multiples right now, but they tend to produce very great cash flow, of which they pay a lot out to shareholders. If you think some of these pipelines are going to be approved in Canada, which he does, it is reasonable to hold onto them, because in the meantime you can live with a yield they produce.

TOP PICK
TOP PICK
November 2, 2016

If Hillary Clinton wins the election, she thinks pipelines will become more valuable, because it is not expected that she will he be approving any new pipelines. TransCanada has just made an acquisition in the US as there are not going to be that many new pipelines developed in Canada. 5-6 years down the road, those existing pipelines will be even more valuable. Dividend yield of 3.91%.

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TC Energy (TRP-T)
November 2, 2016

If Hillary Clinton wins the election, she thinks pipelines will become more valuable, because it is not expected that she will he be approving any new pipelines. TransCanada has just made an acquisition in the US as there are not going to be that many new pipelines developed in Canada. 5-6 years down the road, those existing pipelines will be even more valuable. Dividend yield of 3.91%.

BUY
BUY
November 1, 2016

Just raised $3 billion for an acquisition of a US pipeline. They financed it with debt and equity. Management was going to sell some of their Mexican assets to further pay down the debt, but their Mexican assets are acting so well, and they want to expand in Mexico now, that they decided just to tap the market again. He likes this company.

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TC Energy (TRP-T)
November 1, 2016

Just raised $3 billion for an acquisition of a US pipeline. They financed it with debt and equity. Management was going to sell some of their Mexican assets to further pay down the debt, but their Mexican assets are acting so well, and they want to expand in Mexico now, that they decided just to tap the market again. He likes this company.

COMMENT
COMMENT
October 28, 2016

He was a recent seller of it. He still likes it but it is valuation. If it were to pull back to the mid-$50s he would consider it again.

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TC Energy (TRP-T)
October 28, 2016

He was a recent seller of it. He still likes it but it is valuation. If it were to pull back to the mid-$50s he would consider it again.

COMMENT
COMMENT
October 13, 2016

This is both in the pipeline and power generation businesses. The stock has gone up a lot. A very reliable stock, and one that has increased its dividend on a regular basis. The pipeline is very interesting in that it may be very hard to build another pipeline in Canada. He is not rushing out to sell his holdings.

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TC Energy (TRP-T)
October 13, 2016

This is both in the pipeline and power generation businesses. The stock has gone up a lot. A very reliable stock, and one that has increased its dividend on a regular basis. The pipeline is very interesting in that it may be very hard to build another pipeline in Canada. He is not rushing out to sell his holdings.

DON'T BUY
DON'T BUY
September 26, 2016

It is at 25 times earnings and is not cheap for a pipeline. If we go through a period of worry about rising interest rates, there is a likelihood of a correction in the stock. There is no value here.

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TC Energy (TRP-T)
September 26, 2016

It is at 25 times earnings and is not cheap for a pipeline. If we go through a period of worry about rising interest rates, there is a likelihood of a correction in the stock. There is no value here.

TOP PICK
TOP PICK
September 15, 2016

*Short* (Pairs trade with a long on TA-T). TA-T he was buying as long as a couple of days ago and TRP-T shorting the week before. The ownership of TA renewable in TA-T is worth $7.70 of the share price. At this point the rest of TA-T has a negative value. TRP-T is incredibly expensive. They have excessive debt. They are about to cut the toll of their gas pipeline by 40% which is a major part of their revenue.

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TC Energy (TRP-T)
September 15, 2016

*Short* (Pairs trade with a long on TA-T). TA-T he was buying as long as a couple of days ago and TRP-T shorting the week before. The ownership of TA renewable in TA-T is worth $7.70 of the share price. At this point the rest of TA-T has a negative value. TRP-T is incredibly expensive. They have excessive debt. They are about to cut the toll of their gas pipeline by 40% which is a major part of their revenue.

PAST TOP PICK
PAST TOP PICK
August 18, 2016

(Top Pick Nov 26/15, Up 46.79%) Keystone was rejected but TRP-T has been busy. They have a good profile of growth projects and will have good dividend growth. He is sticking with it.

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TC Energy (TRP-T)
August 18, 2016

(Top Pick Nov 26/15, Up 46.79%) Keystone was rejected but TRP-T has been busy. They have a good profile of growth projects and will have good dividend growth. He is sticking with it.

HOLD
HOLD
August 16, 2016

(Market Call Minute.) Has an attractive yield.

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TC Energy (TRP-T)
August 16, 2016

(Market Call Minute.) Has an attractive yield.

PARTIAL SELL
PARTIAL SELL
August 16, 2016

Has done very well on this, this year. There is not a huge rush to get out of this, but they bought the Columbia pipeline which is a huge expense for them, and they need to divest some of their non-core assets to fund it. There are some execution risks around that. You have a little bit of time before thinking of getting out, but it is getting a little pricey.

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TC Energy (TRP-T)
August 16, 2016

Has done very well on this, this year. There is not a huge rush to get out of this, but they bought the Columbia pipeline which is a huge expense for them, and they need to divest some of their non-core assets to fund it. There are some execution risks around that. You have a little bit of time before thinking of getting out, but it is getting a little pricey.

BUY
BUY
July 28, 2016

(Market Call Minute) Results look good. Good free cash flow yield and good growth potential.

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TC Energy (TRP-T)
July 28, 2016

(Market Call Minute) Results look good. Good free cash flow yield and good growth potential.

BUY
BUY
July 25, 2016

Pipelines have been good performers lately because of the search for yield. They all got hurt in the early part of this year. These stocks will probably stay higher for longer than people expect.

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TC Energy (TRP-T)
July 25, 2016

Pipelines have been good performers lately because of the search for yield. They all got hurt in the early part of this year. These stocks will probably stay higher for longer than people expect.

PARTIAL BUY
PARTIAL BUY
July 25, 2016

Pipelines have represented his largest overweight positions for quite some time. He increased his position in January during the selloff. These companies have a better opportunity set in front of them today, then what they have had any time during their history. Just did a big US acquisition, brought on by some weakness in the MLP sector, and they now have the largest natural gas pipeline system in North America. Both natural gas and oil production in North America over the past 10 years, have essentially doubled, meaning there is more gas moving more places to be processed. With a 4%+ yield, it still represents good value relative to 10 year bonds. If you don’t own this, he would be averaging into positions over the next 6-12 months. (See Top Picks.)

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TC Energy (TRP-T)
July 25, 2016

Pipelines have represented his largest overweight positions for quite some time. He increased his position in January during the selloff. These companies have a better opportunity set in front of them today, then what they have had any time during their history. Just did a big US acquisition, brought on by some weakness in the MLP sector, and they now have the largest natural gas pipeline system in North America. Both natural gas and oil production in North America over the past 10 years, have essentially doubled, meaning there is more gas moving more places to be processed. With a 4%+ yield, it still represents good value relative to 10 year bonds. If you don’t own this, he would be averaging into positions over the next 6-12 months. (See Top Picks.)

COMMENT
COMMENT
July 14, 2016

One of the problems for long dated assets like oil sands is that it is going to be producing oil for 25 years. Overall, this is a very good infrastructure energy company. They have recently tried to acquire Columbia Gas, which would open up gas fields in the North-Eastern US. This is a good name.

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TC Energy (TRP-T)
July 14, 2016

One of the problems for long dated assets like oil sands is that it is going to be producing oil for 25 years. Overall, this is a very good infrastructure energy company. They have recently tried to acquire Columbia Gas, which would open up gas fields in the North-Eastern US. This is a good name.

SELL
SELL
July 13, 2016

(Market Call Minute) They sold last week and put money into TCL.B-T, with a better dividend.

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TC Energy (TRP-T)
July 13, 2016

(Market Call Minute) They sold last week and put money into TCL.B-T, with a better dividend.

BUY WEAKNESS
BUY WEAKNESS
July 12, 2016

The Columbia transaction provides a runway of growth for a few years. You have paid up a little bit for it, but it is going to be accretive next year. If they ever get something for Keystone now, it will be nothing but a bonus. They have decent growth now without it. However, the stock has discounted the growth, and has had a really nice run. Buy this on a pullback.

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TC Energy (TRP-T)
July 12, 2016

The Columbia transaction provides a runway of growth for a few years. You have paid up a little bit for it, but it is going to be accretive next year. If they ever get something for Keystone now, it will be nothing but a bonus. They have decent growth now without it. However, the stock has discounted the growth, and has had a really nice run. Buy this on a pullback.

COMMENT
COMMENT
July 12, 2016

Made a major acquisition in the US, which will help their growth profile going forward for the next few years. All pipeline companies are having difficulty building greenfield pipelines because of environmental reasons. There is nothing wrong with this one.

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TC Energy (TRP-T)
July 12, 2016

Made a major acquisition in the US, which will help their growth profile going forward for the next few years. All pipeline companies are having difficulty building greenfield pipelines because of environmental reasons. There is nothing wrong with this one.

HOLD
HOLD
July 6, 2016

(Market Call Minute.)

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TC Energy (TRP-T)
July 6, 2016

(Market Call Minute.)

COMMENT
COMMENT
June 27, 2016

He likes this along with Enbridge (ENB-T) Inter Pipeline (IPL-T) and Pembina (PPL-T). If things proceed happily towards an Energy East pipeline, that would refocus his interest in this.

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TC Energy (TRP-T)
June 27, 2016

He likes this along with Enbridge (ENB-T) Inter Pipeline (IPL-T) and Pembina (PPL-T). If things proceed happily towards an Energy East pipeline, that would refocus his interest in this.

COMMENT
COMMENT
June 9, 2016

This has been the top performer of the big pipes recently. The pending Columbia acquisition in the US is a game changer for them. It really adds to the natural gas exposure, and into the Marsalis-Utica plays. Hasn’t trimmed yet, but if it keeps going, he probably will.

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TC Energy (TRP-T)
June 9, 2016

This has been the top performer of the big pipes recently. The pending Columbia acquisition in the US is a game changer for them. It really adds to the natural gas exposure, and into the Marsalis-Utica plays. Hasn’t trimmed yet, but if it keeps going, he probably will.

DON'T BUY
DON'T BUY
June 2, 2016

(Market Call Minute.) This has rebounded quite a bit. In the mid $50, he thinks he would be standing back. Pays a good yield of 3.8%.

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TC Energy (TRP-T)
June 2, 2016

(Market Call Minute.) This has rebounded quite a bit. In the mid $50, he thinks he would be standing back. Pays a good yield of 3.8%.

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