TC Energy Nears Stake Sale In NGTL Pipeline To Indigenous Groups: Report
Portfolio Pulse from Lekha Gupta
TC Energy Corporation (NYSE:TRP) is nearing a stake sale in its NGTL pipeline system to indigenous groups in Western Canada, supported by a C$1 billion loan guarantee from Alberta's government. This move is part of TC Energy's strategy to cut debt following cost overruns on the Coastal GasLink pipeline. The transaction is expected to be announced on July 30 and close in late August. Investors can gain exposure to TC Energy via VanEck Energy Income ETF (NYSE:EINC) and IPath Select MLP ETN (BATS:ATMP).
July 24, 2024 | 3:44 pm
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POSITIVE IMPACT
IPath Select MLP ETN (ATMP) provides exposure to TC Energy, which is nearing a stake sale in its NGTL pipeline system to indigenous groups. This transaction is part of TC Energy's strategy to cut debt.
ATMP holds TC Energy as part of its portfolio. The positive news regarding TC Energy's stake sale in the NGTL pipeline system could have a favorable impact on ATMP's performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
VanEck Energy Income ETF (EINC) provides exposure to TC Energy, which is nearing a stake sale in its NGTL pipeline system to indigenous groups. This transaction is part of TC Energy's strategy to cut debt.
EINC holds TC Energy as part of its portfolio. The positive news regarding TC Energy's stake sale in the NGTL pipeline system could have a favorable impact on EINC's performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
TC Energy is close to selling a stake in its NGTL pipeline system to indigenous groups, supported by a C$1 billion loan guarantee from Alberta's government. This is part of TC Energy's strategy to cut debt following cost overruns on the Coastal GasLink pipeline.
The sale of a stake in the NGTL pipeline system is a significant move for TC Energy as it aims to reduce debt. The support from Alberta's government and the involvement of indigenous groups add positive sentiment. The transaction is expected to be announced soon, which could drive short-term stock price appreciation.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100