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TransCanada Corp. Q3-2018 Earnings & Price Target Update

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TransCanada Ltd. (TRP) is a North American energy infrastructure company with $94.1B in assets at Sept-30-2018. They own natural gas and liquids pipelines, power generation and gas storage facilities. TransCanada operates one of the largest natural gas transmission networks that extends more than 91,900 kilometres (57,100 miles), tapping into virtually all major gas supply basins in North America. TransCanada is a leading provider of gas storage and related services with 653B cubic feet of storage capacity. A large independent power producer, TransCanada owns or has interests in 6,100 megawatts of power generation in Canada and the United States. During 2017, 4,500MW of power generation facilities were sold, primarily in the US Northeast. TransCanada is also the developer and operator of oil pipeline systems that extend 4,900 kilometres (3,000 miles), connecting growing continental oil supplies to key markets and refineries. US natural gas pipelines now include the Columbia Pipeline acquisition in Jul-2016 for $10.3B. The acquisition of Columbia Pipeline Group on Jul-1-2016 added $20B in assets. Following the sale of the U.S. Northeast power business, their business will be organized into the following segments: Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines and Energy. Canadian natural gas pipelines contribute 26% of revenues, US natural gas pipelines-35%, Mexico natural gas pipelines- 5%, Oil pipelines-18% and Power Generation at 14%. They operate in seven Canadian provinces, 38 U.S. states and Mexico.

Business Segments

The natural gas and oil pipelines are mainly located in Canada, the United States with a growing presence in Mexico. They serve more than 80% of the Canadian demand for natural gas transport and approximately 15% of the U.S. demand.

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