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Pembina Pipeline Corporation (TSX:PPL) and TC Energy Corporation(TSX:TRP) have joined hands to develop a carbon transportation and sequestration system in the western Canadian province of Alberta. On completion of this ambitious project, the companies will be able to transport over 20 million tons of carbon dioxide per year.
Both the companies will upgrade existing pipelines and build new systems to connect the sources of industrial carbon emissions to a sequestration location. This project is important for the country as it will likely reduce environmental impacts.
In a joint statement, the companies said that the industries in western Canada need to manage their emissions effectively and contribute to the government's goal of reducing carbon emissions.
Pembina stocks scored a fresh 52-week high of C$ 41.63 apiece during the trading session on Wednesday, June 16, and closed at C$ 41.05 per share. Meanwhile, the TC Energy share prices have returned seven per cent month-to-date (MTD) to its stockholders’.
On that note, let's take a look at the recent stock performances of both the companies and explore their financials to find out whether you should invest in them or not.
Pembina Pipeline Corporation (TSX:PPL)
The PPL stock outperformed the TSX 300 Composite Index's growth of 18.7 per cent in the past year by surging 37.7 per cent relatively. Meanwhile, the stock soared by 36 per cent year-to-date (YTD). As per the data from TMX, the PPL stock currently registers a dividend yield of 6.1 per cent and pays a monthly dividend of C$ 0.21 per unit.
One-year chart of stock performance, volume and moving average exponential of Pembina Pipeline (Source: EODHD/Others)
Pembina holds a market cap of C$ 22.6 billion and its debt-to-equity (D/E) ratio is 0.81. Indicating a strong start this year, Pembina recorded net revenue of C$ 999 million in Q1 2021, compared to C$ 865 million in Q1 2020.
In the same period, the cash flow from operating activities increased to C$ 456 million from C$ 410 million in the first quarter of last year.
TC Energy Corporation(TSX:TRP)
Holding a market cap of C$ 63.7 billion, TC Energy offers a 16.4 per cent return on equity and 4.2 per cent return on assets, as per TMX data. At market close on Wednesday, June 16, the scrip was priced at C$ 65.10.
The TRP stock swelled by about 26 per cent YTD and 14 per cent in the past three months. At market open on Thursday, June 17, the stock was up by 0.6 per cent and trading at C$ 65.19 at 11 AM EDT. If the uptrend continues, the stock might breach its previous 52-week high of C$ 66.14 on August 11, 2020.
One-year chart of stock performance, volume and moving average exponential of TC Energy (Source: EODHD/Others)
In Q1 2021, TC Energy recorded revenues of C$ 3,381 million and posted a comparable EBITDA of C$ 2,492 million.
The above constitutes a preliminary view and any interest in stocks should be evaluated further from an investment point of view. The reference data in this article has been partly sourced from EODHD/Others.
