Pembina And TC Energy Team Up to Create Carbon Transportation And Sequestration System

Pembina Pipeline (PPL) and TC Energy (TRP) announced a plan on Thursday to develop a world-scale carbon transportation and sequestration solution in Alberta. The Alberta Carbon Grid (ACG) will be Read More... The post Pembina And TC Energy Team Up to Create Carbon Transportation And Sequestration System appeared first on TipRanks Financial Blog.

Pembina And TC Energy Team Up to Create Carbon Transportation And Sequestration System

Pembina Pipeline () and TC Energy () announced a plan on Thursday to develop a world-scale carbon transportation and sequestration solution in Alberta.

The Alberta Carbon Grid (ACG) will be able to transport over 20 million tonnes of CO2 per year, forming the backbone of Alberta's carbon capture utilization and storage industry.

Pembina's President and CEO Mick Dilger said, "The ACG highlights our commitment to customers by helping them solve problems and creating new services; communities, by reducing emissions and using existing infrastructure to reduce the impact to the land; employees, through development of an entirely new line of business and job opportunities; and shareholders through attractive incremental capital investment. Pembina is proud of our commitment to all stakeholders and pleased to leverage our expertise to provide a key market solution toward a lower carbon economy with another industry leading partner."

Pembina and TC Energy plan to modernize existing pipelines and build new systems to connect Alberta’s largest sources of industrial emissions to a sequestration site northeast of Redwater.

The companies say that the construction and operation of the ACG will support economic growth and create high-value jobs throughout Alberta.

Pembina and TC Energy expect the first phase to be operational by 2025. (See Pembina Pipeline stock analysis on TipRanks)

On June 16, National Bank Financial analyst Patrick Kenny kept a Hold rating on PPL while lifting its price target to C$40 (from C$39). This implies 1.8% downside potential.

Consensus among analysts is that PPL is a Moderate buy based on 6 Buys and 3 Holds. The PPL average analyst price target of C$42.80 implies 5% upside potential to current levels.

TipRanks’ Smart Score

PPL scores a "Perfect 10" on TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform the overall market.

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The post Pembina And TC Energy Team Up to Create Carbon Transportation And Sequestration System appeared first on TipRanks Financial Blog.

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Smith & Wesson's Q4 Results Beat Estimates

Smith & Wesson Brands, Inc. (SWBI) reported better-than-expected results for the fourth quarter of Fiscal 2021, driven by significant growth in net sales. The company reported quarterly net sales of $322.9 Read More... The post Smith & Wesson's Q4 Results Beat Estimates appeared first on TipRanks Financial Blog.

Smith & Wesson's Q4 Results Beat Estimates

Smith & Wesson Brands, Inc. (SWBI) reported better-than-expected results for the fourth quarter of Fiscal 2021, driven by significant growth in net sales.

The company reported quarterly net sales of $322.9 million, growing 67.3% from the prior year. Moreover, it surpassed the consensus estimate of $259.8 million.

The company reported adjusted EPS of $1.71, which compares favorably to $0.50 from the prior year. Furthermore, it topped the consensus estimate of $1.02 per share.

The company declared a quarterly dividend of $0.08 per share, a hike of 60%. The dividend will be paid on July 1, 2021, to shareholders of record as of July 6, 2021. The company’s annual dividend of $0.32 per share now reflects a dividend yield of 1.6%, based on Thursday’s closing price of $20.97.

Mark Smith, CEO of Smith & Wesson Brands, said, "The results of the past year, in spite of the unthinkable challenges that we faced as a nation and as a company, are a tremendous testament to the resolve of our dedicated employees, the power of the Smith & Wesson brand, and the strength of the partnerships we have with our customers. Our employees more than doubled the prior year sales, passed a milestone of $1 billion in revenue, and by every financial and operating metric, have delivered the most successful year in the 169 year history of the company. But most importantly, we have set a rock solid foundation for the long term success of the company, with astounding market share growth. During the past fiscal year, the US firearms market experienced record growth of 42%, meanwhile shipments from Smith & Wesson far surpassed the industry, growing by 70%. Strong consumer preference for our products combined with our ability to rapidly react to the increased demand has placed us in a clear leadership position as we enter into our first full fiscal year as a standalone pure-play firearms company." (See Smith & Wesson Brands stock analysis on TipRanks)

Following the results, Cowen analyst Cai Rumohr reiterated a Buy rating and a price target of $30.50. This implies 33% upside potential from current price levels.

Consensus among analysts is a Moderate Buy based on 1 Buy and 1 Hold. The SWBI average analyst price target of $25.25 implies approximately 9% upside potential over the next 12 months.

Smith & Wesson Brands scores a 9 out of 10 from TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations. Shares have gained about 38.5% over the past year.

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The post Smith & Wesson's Q4 Results Beat Estimates appeared first on TipRanks Financial Blog.

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