Photo: TC Energy
TC Energy ( NYSE: TRP ) on Thursday rose as much as 1.8% after saying it had recovered about 7,599 barrels of oil as part of cleaning up a leak in the Keystone pipeline.
“We safely removed the impacted pipeline segment and have sent it to an independent lab for metallurgical testing as directed by the U.S. Pipeline and Hazardous Materials Safety Administration (PHMSA),” the pipeline giant said on a web page with updates on the leak. “Like many in the U.S., we are expecting significant winter weather impacts over the upcoming days.”
TC Energy ( TRP ) won’t restart the pipeline until it’s considered safe to do so and it receives regulatory approval, the statement said.
If the stock’s gain is maintained through the close of regular trading, it will mark a reversal after five straight days of declines.
TC Energy ( TRP ) had fallen as much as 7.3% since the end of trading on Dec. 6, a day before Keystone was closed, and a Dec. 19 intraday low of $39.45.
The pipeline delivers 622,000 barrels of oil a day. The spill of 14,000 barrels of oil in rural Kansas was Keystone's third major spill in the past five years. Undamaged parts of the pipeline reopened last week.
Seeking Alpha contributor Gen Alpha rates TC Energy ( TRP ) a Buy on its dividend yield . Contributor RCK Analytics has a Buy rating on TC Energy ( TRP ) on its dividend growth .
Photo: TC Energy
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TC Energy advances after update of Keystone cleanup