TC Energy ( NYSE: TRP ) could sell billions of dollars of assets , perhaps even its Keystone oil pipeline, to help fund projects in Canada and Mexico, analysts said Tuesday, according to Bloomberg.
TC Energy ( TRP ) may seek to monetize its liquids pipelines as well as smaller gas pipelines for as much as C$4B (US$2.9B), RBC Capital's Robert Kwan said, citing a recent meeting with TC CFO Joel Hunter.
The company could boost its balance sheet with asset sales, Tudor Pickering Holt's Matthew Taylor said in upgrading TC ( TRP ) to Buy from Hold with a C$65 price target, adding that a sale of the Keystone pipeline would be an "ESG-accretive divestiture" and "the major prize in right-sizing the balance sheet."
TC Energy ( TRP ) shares recently slumped to their lowest in nearly two years after a selloff that started with the issuance of new equity to fund a project in Mexico .
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TC Energy could sell assets including Keystone pipeline, analysts say