TC Energy Corp
TRP: XTSE (CAN)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
CAD 65.00 | Xrlcgy | Mfgctyf |
TC Energy Turns Its Focus to Capital-Intensive Businesses
Business Strategy and Outlook
TC Energy faces many of the same challenges as Canadian pipeline peer Enbridge but also offers important contrasts. Both firms offer a 5%-7% growth profile and a utilitylike 95%-98% of earnings that are highly regulated or contracted, with several years of project backlog. Enbridge largely focuses on oil assets, while TC’s focus is natural gas.