TC Pipeline (TCP) 2012 Review

TC Pipelines LP and its subsidiaries acquire, own and manage energy transmission pipeline systems in the US and Canada. 

The partnership has experienced flat earnings over the past five years though that is expected to change substantially this year. In that same period, dividends have increased 5% annually and return on equity has averaged 10-15%. The company should continue to expand moderately as a result of:

(1) it is a key player in the Western Canada gas transmission market for which thee is robust demand,

(2) acquisitions,

(3) its low debt to equity ratio provides financial flexibility for future acquisitions.