Making sense of the markets this week: February 19, 2023 Feb 17th

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Making sense of the markets this week: February 19, 2023

– moneysense.ca

Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines and offers context for Canadian investors.

Steady profits never make the news

Being a pipeline company is sort of like being a hockey referee: If people notice you, it’s probably for the wrong reasons.

Another consistent earnings quarter for Canada’s largest pipeline companies generally went unnoticed—as opposed to when a leak or other crisis occurs.

Canadian pipeline earnings highlights
Enbridge (ENB/TSX): Earnings per share of $0.63 (versus $0.73 predicted). Revenues not yet available. Keyera (KEY/TSX): Earnings per share of $0.49 (versus $0.40 predicted), and revenues of $1.78 billion (versus $1.64 predicted).TC Energy (TRP/TSX): Earnings per share of $1.11 (versus $1.10 predicted), and revenues of $4.04 billion (versus $3.89 billion predicted).

All three pipeline stocks saw a small uptick in share prices as a result of this, including Enbridge, which had a small earnings miss…

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