|Bid||44.50 x 800|
|Ask||44.52 x 800|
|Day's Range||44.14 - 45.51|
|52 Week Range||32.37 - 57.92|
|Beta (5Y Monthly)||0.70|
|PE Ratio (TTM)||16.01|
|Earnings Date||Feb 09, 2017 - Feb 13, 2017|
|Forward Dividend & Yield||2.43 (5.38%)|
|Ex-Dividend Date||Dec 30, 2020|
|1y Target Est||54.51|
TC Energy Corp's sale of a C$1 billion ($769 million) stake in Keystone XL (KXL) to a Canadian indigenous group is the result of over three years of pressure from a tiny Saskatchewan First Nation that demanded part ownership of the long-delayed oil pipeline, rather than short-term payments for allowing it to be built through its lands. Natural Law Energy's (NLE) planned investment was billed by TC as the biggest-ever indigenous investment in an oil project, highlighting how some communities are seeking to share in the industry's profits while others oppose it. Adding indigenous support may help efforts by Canada and TC to convince U.S. President-elect Joe Biden not to revoke the permit of the $8-billion Keystone XL when he takes office as he has promised.
(Bloomberg) -- The indigenous group seeking to buy a stake in TC Energy Corp.’s Keystone XL oil pipeline expects to secure financing by the first quarter of next year.Natural Law Energy, which represents five indigenous communities in Alberta and Saskatchewan, is confident the funding will allow it to acquire as much as 12% of the project, according to Chief Executive Officer Travis Meguinis.“We have a number of investment funds at the table,” Meguinis said in a phone interview.Efforts to revive the controversial pipeline project to ship oil sands crude into the U.S. are facing a crucial moment with the victory of President-elect Joe Biden. The proposed conduit, which was rejected by the Obama administration and reinstated by the Trump government, requires backing from the executive branch to cross the border.Natural Law Energy will make an equity investment of as much as C$1 billion ($770 million) in the project, Calgary-based TC Energy said earlier this month. Investment by indigenous groups, which often spearhead opposition to pipelines, could help persuade Biden to allow the project to go forward even after his campaign pledged to rescind the permit granted by outgoing President Donald Trump.Meguinis said he is optimistic about the project regardless of the change in U.S. administrations after TC Energy signed agreements to have the pipeline built by pro-Democratic labor unions in the U.S. In its first eight years, the project will generate tens of millions of dollars annually for Natural Law’s participating first nations, growing to hundreds of millions of dollars thereafter, he said.Keystone XL, which will carry crude from Alberta to the U.S. Midwest, has been controversial since it was first proposed more than a decade ago. Canadian oil producers consider the project crucial as they struggle with a lack of oil export pipelines. Opponents argue the pipeline will contribute to global warming by facilitating more oil sands development.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Yield-hunters are always looking for stocks that not only offer attractive yields, but also impressive growth prospects. A couple energy sector stocks right now offer this compelling risk-reward proposition: Enterprise Products Partners (NYSE: EPD) and TC Energy (NYSE: TRP). Enterprise Products Partners' massive 9.4% yield makes it look like a risky stock.