No Surprises at TransCanada’s Investor Day; Stock Remains Deeply Undervalued
There weren’t any surprises at TransCanada’s 2018 investor day. The company guided to EBITDA growth that is expected to approximate CAD 10 billion by 2021, which is in line with our forecasts. This forecast doesn’t include contributions from the Keystone XL. If placed into service, we think that cash flows from the project will begin to be accretive to the company in 2022.Regarding the Keystone XL, management is reviewing the options provided by the federal judge, who temporarily blocked constr...
TransCanada is an energy company. Co. operates three business segments: natural gas pipeline, which transports natural gas across Canada, the U.S. and Mexico, and has regulated natural gas storage facilities in Michigan with a total capacity of 250 billion cubic ft.; liquids pipelines, which consists of wholly-owned and operated crude oil pipeline systems that connects Alberta and U.S. crude oil supplies to U.S. refining markets, as well as connecting U.S. crude oil supplies from the Cushing, OK hub to refining markets in the U.S Gulf Coast; and energy, which includes a portfolio of power generation assets in Canada and the U.S., and unregulated natural gas storage assets in Alberta.
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