TC Pipelines (TCP) is a midstream MLP operated by TransCanada Corp (TRP). As a pipeline company, TC Pipelines has virtually no commodity price exposure and relatively little volume exposure due to its capacity mostly being under long-term contracts. TC Pipelines offers a $0.78 per unit per quarter distribution and at current prices yields about 7.20%.
TC Pipelines assets include interests in over 5,560 miles of interstate natural gas pipelines with a combined total capacity of about 8.9 BCF/D. TC Pipelines owns or has ownership interests in pipelines ranging from the Canadian border to the Midwestern US and the West Coast. Note that only the North Baja and Tuscarora pipelines are 100% owned by...
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