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    TRP   CA87807B1076

TC ENERGY CORPORATION

(TRP)
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TC Energy : Canadian pipeline companies sees natgas opportunities in shift to green energy

04/07/2021 | 01:37pm EDT

CALGARY, Alberta, April 7 (Reuters) - Canada's largest pipeline companies TC Energy and Enbridge Inc see opportunities in their extensive natural gas businesses as a transition to cleaner energy evolves, their chief executives said on Wednesday.

The two Calgary-based companies are among North America's largest energy infrastructure firms, and the majority of their business is focused on storing and transporting fossil fuels.

TC Energy has the biggest natural gas pipeline system in North America, and CEO François Poirier said the company sees plenty of opportunities to allocate capital to that business in the form of organic bolt-on projects.

Storage and transportation assets will be key as the energy transition moves forward and new technologies aimed at reducing greenhouse gas emissions like carbon capture and storage and hydrogen are developed, Poirier said at the online Scotiabank CAPP Energy Symposium.

"Transition can't come fast enough from our perspective but we have to pace it appropriately. I believe natural gas and liquids will continue to play a prominent role in the energy economy for decades to come," he said.

"I believe our existing assets will continue to be used and be useful for quite a long time and generate a tremendous amount of cash flow that we will be able to deploy into the energy transition."

Enbridge CEO Al Monaco, speaking at the same conference, said he saw gas as the "great enabler" for the energy transition because it is a reliable source of power that can backstop renewables.

"It's low-cost, abundant, it's important in reducing utilization of coal, but it's equally important in fostering renewables. You've got to be able to create baseload capability and it addresses the enormous intermittency challenges," he said.

Both companies are also investing in clean energy projects, and looking into developing technology to transport hydrogen. (Reporting by Nia Williams Editing by Marguerita Choy)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ENBRIDGE INC. -0.90% 46.4 Delayed Quote.15.01%
TC ENERGY CORPORATION 0.02% 59.64 Delayed Quote.15.13%
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Financials
Sales 2021 13 809 M 10 992 M 10 992 M
Net income 2021 3 790 M 3 017 M 3 017 M
Net Debt 2021 51 157 M 40 720 M 40 720 M
P/E ratio 2021 14,7x
Yield 2021 5,80%
Capitalization 58 330 M 46 374 M 46 429 M
EV / Sales 2021 7,93x
EV / Sales 2022 7,69x
Nbr of Employees 7 283
Free-Float 89,9%
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Technical analysis trends TC ENERGY CORPORATION
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 68,55 CAD
Last Close Price 59,63 CAD
Spread / Highest target 27,5%
Spread / Average Target 15,0%
Spread / Lowest Target 5,65%
EPS Revisions
Managers and Directors
NameTitle
Francois L. Poirier President, Chief Executive Officer & Director
Donald R. Marchand Chief Financial Officer & Executive VP-Strategy
Siim Alden Vanaselja Chairman
Donald Michael Godfrey Stewart Independent Director
Mary Pat Salomone Independent Director
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