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TC Energy Corporation TRP has announced that it had detected a leak in the ANR pipeline system, following which its pipeline system was shut down on Wednesday. The leak was identified near Fennville, MI.
Per Reuters, the pipeline was damaged by a third party and the company promptly shut the affected part after learning of the incident due to safety concerns. However, the incident caused a natural gas outage in the region. Michigan Gas Utilities noted that approximately 5,200 homes suffered due to the outage in the region. TC Energy further mentioned that as repairs and maintenance work have been undertaken for the damaged pipeline, the gas outage in Fennville could last for several days.
TRP’s ANR pipeline system transports over 10 billion cubic feet of natural gas per day and has access to major gas-producing basins in North America. The pipeline spans approximately 9,300 miles and transports natural gas to the midwestern states in the United States.
TRP’s Zacks Rank and Key Picks
TRP, a leading energy infrastructure firm, currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Energy sector are Archrock Inc. AROC, Nine Energy Service NINE and Kinder Morgan, Inc. KMI. While Archrock currently sports a Zacks Rank #1 (Strong Buy), Nine Energy Service and Kinder Morgan carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
Archrock is an energy infrastructure company based in the United States with a focus on midstream natural gas compression. It provides natural gas contract compression services and generates stable fee-based revenues. With natural gas playing an increasingly important role in the energy transition journey, AROC is expected to witness sustained demand for its services.
Nine Energy Service provides onshore completion and production services for unconventional oil and gas resource development. It operates across key prolific basins in the United States, including the Permian, Eagle Ford, MidCon, Barnett, Bakken, Rockies, Marcellus and Utica, as well as throughout Canada. With a sustained demand for oil and gas in the future, the need for NINE’s services is anticipated to increase, which should position the company for growth in the long run.
Kinder Morgan is a leading North American midstream player with a stable and resilient business model, largely driven by take-or-pay contracts. KMI’s stable business model shields it from commodity price volatility, resulting in predictable earnings and facilitating reliable capital returns to its shareholders.
