- Canadian energy companies provide a wide range of services to their distinguished customers.
- In the last few years, these firms have strengthened their positions with more proactive initiatives.
- They have emerged as one of the most profitable options for investors.
Energy stocks are one of the first few options to consider when one thinks of investing categorically. The companies operating in this space are mostly high earners. There are times when they hit roadblocks as well. However, they overcome them as well and make profits as usual. Moreover, when choosing stock industry-wise, it’s good to go by country. It eases the analysis and gives a clearer picture of the niche.
Canadian companies have also emerged in this space. Though the country isn’t a major provider, its companies have maintained profitable operations. They are adopting new eco-friendly energy sources and expanding as well. Thus, knowing about them is a must for every wise trader.
Most Promising Canadian Energy Stocks
With prolific operations and efficient management, these companies are achieving new feats every day.
Enridge Inc. (TSX: ENB)
Enridge operates and owns a network of pipelines carrying natural gas liquids, natural gas, and crude oil. It also generates renewable energy while catering to customers throughout Canada and the United States. Founded in 1949, the company has the longest pipeline network in North America. Additionally, its oil export pipeline is the largest in the world.
Suncor Energy (TSX: SU)
This integrative energy company specializes in producing synthetic crude from oil sands. In 1979, a merger of four different companies formed Suncor. The firm acquired Crown corporation Petro-Canada in 2009. Till 2010, it promoted products and services through customer-operated retail and Diesel fuel sites. It held the position of 48th-largest public company in the Forbes list in 2020.
TC Energy (TSX: TRP)
TC Energy Corporation develops and operates energy infrastructure in Canada. Its natural gas pipelines, liquids pipelines, and energy units have a presence in the US and Mexico too. The company fulfills 25% of natural gas demand in North America with 57,539 miles of pipeline. Furthermore, crude oil supplies make up about 20% of Western Canadian exports. The energy division delivers 6,6000 megawatts (MW).
Canadian Natural Resources (TSX: CNQ)
This leading oil and natural gas company has extensive operations. It primarily operates in the Western Canadian provinces of British Columbia, Manitoba, Saskatchewan, and Alberta. In addition, it handles offshore units in the Gabon, Côte d’Ivoire, and North Sea sectors of the United Kingdom. It’s the largest producer of heavy crude oil and the largest independent producer of natural gas in Western Canada.
Pembina Pipeline (TSX: PPL)
Pembina is a transportation and storage infrastructure company. It manages a complex network to deliver oil and natural gas throughout Western Canada. The company handles natural gas processing along with one storage unit exclusively for ethylene. Founded in 1954, it has a history of acquisitions too. It took over Peace Pipe Line (1991), Federated Pipe Lines (2000), and several other companies.
Conclusion
With Canadian energy stocks, investors can certainly ensure great profits. Going by the analysis, all of them are working progressively. They are adapting new sustainable measures while meeting the demands. They are also expanding their reach to different nations. Therefore, investing in these companies is a prudent choice. However, the investors must do their homework before making any comprehensive investment.
