TRP (TransCanada), appears to be good value

Hi, This doesn’t seem to have recovered as well as some of the others since before the pandemic. And looking at it back to August, on August 17 2020 it was $65.10 and is now around $58.00, down about 12%. ENB for example was at $43.42 (Aug 17 2020) and is trading close to that point now.I just wanted to mention that I think that TRP could be a nice undervalued stock at the moment, especially since it is down from about $76 pre-pandemic (23%) and today ENB is down about 24% since pre-pandemic. I believe at times some companies recover faster than others and this could be a good value for TRP at this price. I realize that this is on the Bull List. Would you agree with this assessment?

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Asked on December 11, 2020 7:58 am

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Thanks Dan

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Posted by Ian McHardy

Answered on December 11, 2020 12:57 pm

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Hey there.

We definitely agree. That's why TRP is on our Dividend Bull List. We view it as best in class in terms of pipeline companies. It's proven to be extremely resilient throughout the pandemic.

Keep in mind, sentiment is still negative towards oil and gas companies. TRP is no question undervalued. However, sentiment will very likely cause its recovery to be slower.

The one benefit is the fact we can collect a very healthy dividend while we wait.

Of note, I own TRP. I plan for it to be one of the only oil and gas holdings in my portfolio, I'm just still developing an exit strategy.

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Posted by Dan Kent

Answered on December 11, 2020 8:30 am

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