TC Energy (NYSE: TRP) Inks Investment Deal With Natural Law Energy

TC Energy Corporation (NYSE: TRP) has declared today that it has inked an agreement with Natural Law Energy. As per the agreement, NLE will be able to make an equity investment of up to $1 billion in the Keystone XL pipeline project. This pipeline project is the fourth stage of the Keystone pipeline system which is a pipeline system in the US and Canada and is wholly owned by TC Energy.

The first stage of the deal between TRP and NLE will be executed in the Q321. The deal also showed the interest of NLE as a long-term partner in the Keystone XL pipeline project. This project is creating jobs for thousands of people and also offers economic benefits to local communities. TC Energy is committed to utilizing this proprietary model to generate opportunities for additional domestic communities in Canada and the US, along with the Keystone XL corridor as the project progresses.

TC Energy Corporation (TRP) has seen some recent activity in the stock market and its common shares are trading at $42.47. Traders are starting to take interest in TRP as the trading of the common shares are as high as $42.85 and as low as $42.11 at the time the article was written.

TC Energy Corporation (TRP) average trading volume is 1.38M. However, in today’s market session TC Energy Corporation (TRP) exchanged 553,196 shares till now. The 1st support level on TRP is $42.21 and the 1st upside resistance level on TRP is $49.92. TRP 50day moving average is $41.87 and TRP 200day moving average is $44.45.

TC Energy Corporation (TRP) current performance has been shown by the recent movement in TRP common shares. TRP has performed 0.05% over the past 4 weeks, TRP has performed -12.84% over the past quarter and TRP has shown -16.23% over the past 365 days. TC Energy Corporation (TRP) has a 52 week range of $32.37 to $57.92. TC Energy Corporation (TRP) is trading 31.17% from its 52 week low and -26.69% from its 52 week high. TC Energy Corporation (TRP) is indicating a 0.47% short float indicating the sum short in the float.

TRP has 940.00M shares outstanding and 938.50M shares in the float. TC Energy Corporation (TRP) presently has a market cap of $39.61B and an income of 3.38B. The EPS next quarter for TRP is 0.78 and the projected EPS next year is 3.74%. The market cap of TC Energy Corporation (TRP) at $39.61B signifies how many Traders own shares of TRP and is based off the last price ($42.47) of TRP and the sum of shares outstanding (940.00M) with TC Energy Corporation (TRP).

TC Energy Corporation (TRP) has an aggregate debt/equity (mrq) of 144.88. TRP is trading 3.36% above (bullish) its SMA20, -0.83% below (bearish) its SMA50 and -6.58% below (bearish) its SMA200.

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