Canadian National (CNI) Signs MoU for Clean Energy Terminal

Zacks Equity Research

22 August 2022 at 12:52 pm·3-min read

Canadian National Railway Company CNI recently announced that it had signed a Memorandum of Understanding (MoU) with Keyera Corp. The MoU is aimed at the opening of a specialized clean energy terminal in Alberta's Industrial Heartland, which is expected to assimilate conventional and clean energy from multiple sources to support the transportation of Alberta's diverse energy products and boost the development of Canada's green energy future.

Tracy Robinson, CN's President and CEO, stated, "This project capitalizes on a core CN strength: sustainably moving Canadian natural resources safely and efficiently to domestic and international markets." She further added, "We are pleased to be working with Keyera on this project which will benefit Alberta and the Canadian economy. The project will offer a unique opportunity to aggregate products from multiple producers and will provide an efficient mechanism to not only support Canadian industry but also further global energy transition."

Dean Setoguchi, Keyera's President and CEO, stated, "Together, Keyera and CN demonstrate how collaboration is key to creating sustainable solutions, meeting the evolving needs of our customers, and transporting high value products locally and abroad while supporting Canada's path to net-zero."

The clean energy terminal in Alberta's Industrial Heartland is expected to create new business opportunities in Alberta as well with access to global markets.

The integration should also help create a structured rail logistics solution in Alberta's Industrial Heartland. This should help transport low-cost sustainable energy products to key markets domestically and globally.

Zacks Rank and Other Stocks to Consider

Currently, Canadian National Express carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Some other top-ranked stocks in the broader Zacks Transportation sector that investors can consider are GATX Corporation GATX, Triton International Limited TRTN and Teekay Tankers Ltd. TNK,each carrying a Zacks Rank #2 as well.

GATX Corporation has an expected earnings growth rate of 17.8% for the current year. GATX delivered a trailing four-quarter earnings surprise of 28.9%, on average.

The Zacks Consensus Estimate for GATX’s current-year earnings has improved 2.1% over the past 90 days. Shares of GATX have gained 16% over the past year.

Triton has an expected earnings growth rate of 22.4% for the current year. TRTN delivered a trailing four-quarter earnings surprise of 7.5%, on average.

The Zacks Consensus Estimate for TRTN’s current-year earnings has improved 4.2% over the past 90 days. Shares of TRTN have gained 21.5% over the past year.

Teekay Tankers has an expected earnings growth rate of 140.1% for the current year. TNK delivered a trailing four-quarter earnings surprise of 46.1%, on average.

The Zacks Consensus Estimate for TNK’s current-year earnings has improved more than 100% over the past 90 days. Shares of TNK have gained 122.6% over the past year.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Canadian National Railway Company (CNI) : Free Stock Analysis Report

Teekay Tankers Ltd. (TNK) : Free Stock Analysis Report

GATX Corporation (GATX) : Free Stock Analysis Report

Triton International Limited (TRTN) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

Malay Mail
Police: Man sodomised by foreigner he met in PJ condo gym
PETALING JAYA, July 6 — A local man has alleged he was sodomised against his will by a foreigner he met at the gym of th...
Reuters
China anchors 'monster ship' in South China Sea, Philippine coast guard says
The Philippine Coast Guard (PCG) said on Saturday that China's largest coastguard vessel has anchored in Manila's exclusive economic zone (EEZ) in the South China Sea, and is meant to intimidate its smaller Asian neighbour. The China coastguard's 165-meter 'monster ship' entered Manila's 200-nautical mile EEZ on July 2, spokesperson for the PCG Jay Tarriela told a news forum. The PCG warned the Chinese vessel it was in the Philippine's EEZ and asked about their intentions, he said.
The Guardian
Portugal v France: a galactic battle lost in the black hole of one man’s ego
This Euro 2024 clash could have been an all-time great quarter-final, and instead a part of it was stolen
HuffPost
My Wife Of 26 Years Died. 6 Months Later, I Received A Call That Left Me Stunned.
"There is your life before the death of your beloved spouse and your life after. The pain never fully goes away."
CNN
Opinion: What Britain’s first Asian prime minister meant to my family
The defeat of the Conservative Party in the UK election ends Rishi Sunak’s two-year premiership. Does it also sour the story of Britain’s first Asian prime minister, asks Sunder Katwala.
Malay Mail
Malaysian film director Mansor Puteh dies, 70, dies in accident
PETALING JAYA, July 7 — Film director and critic Mansor Puteh, 70, passed away after the car he was driving skidded and...
Malay Mail
Immigration nabs 75 in Klang Valley prostitution crackdown
KUALA LUMPUR, July 6 — The Immigration Department conducted a crackdown on a foreign prostitution syndicate in the Klang...
Cosmopolitan
Jennifer Lopez's Family Want Her to "File for Divorce First and Get On With Her Life"
Jennifer Lopez's family want her to "file for divorce first" from Ben Affleck and get on with her life.
Yahoo News UK
Seven moments over 14 years that destroyed the Conservative government
The Tories have lost the 2024 general election with the worst results in the party's history. Here are the key moments that brought them down.
RFI
Carmakers unhappy after EU hits China with tariffs on electric vehicles
The European Union has slapped extra provisional duties of up to 38 percent on Chinese electric car imports because of "unfair" state subsidies, despite Beijing's warnings the move would unleash a trade war. But company reps in both China and Europe are critical of the steps. Brussels launched an investigation last year into Chinese electric vehicle manufacturers to probe whether state subsidies were unfairly undercutting European automakers.Since announcing the planned tariff hike last month, o
INSIDER
Kamala Harris won't save Democrats if she takes over for Biden, warns historian who correctly predicted 9 of the last 10 elections
Professor Allan Lichtman told WSJ that based on his election model, President Joe Biden remains the Democrats' best shot for the White House in 2024.
Malay Mail
In Section 19 PJ, the newly-opened Jing Cheng Beijing Roasted Duck scores a hit with Beijing-style roast duck
PETALING JAYA, July 7 — Earlier this year, I wrote about The Golden Time, one of the five restaurants located on the gro...
The Telegraph
British Jews have reason to be frightened. This time it’s not Labour
On October 8, as the world was beginning to comprehend what had just happened in southern Israel, most decent people – including many who would go on to decry Israel’s retaliatory campaign – expressed genuine horror at what Gaza’s Islamist barbarians had done. But a substantial minority was openly cheering. Not just in Turkey and Iran, but in Toronto and London.
The Independent
The shocking true story of a Utah woman who poisoned her bestie after she took out a life insurance policy
Janie Lynn Ridd and her roommate Rachel had been best friends for 25 years. But after Rachel became deathly ill numerous times without any explanation, she discovered her best friend had been trying to poison her with a strain of antibiotic-resistant bacteria. Martha McHardy reports
Malay Mail
Big fat weddings off the cards for Malaysian couples as cost of living bites post-pandemic
KUALA LUMPUR, July 6 — Malaysian couples prefer tying the knot in close-knit and moderate wedding ceremonies as cost of...
The Telegraph
Ukraine goes to war... with Western moneymen
For months, the West’s most respected military experts have been insisting that Vladimir Putin’s war machine is close to running out of steam in Ukraine. However, it is a prediction that seems completely at odds with the reality of life for millions of Ukrainians living close to the frontline.
Malay Mail
Umno veterans question low Chinese voter turnout at Sg Bakap
KUALA LUMPUR, July 7 — The Umno Veterans Club today expressed concern over the low turnout of Chinese voters during the...
People
New Royal Ride! Prince William Spotted Zooming Into Windsor Castle on Electric Scooter in Rare Sighting
In a rare royal sighting, the Prince of Wales was seen riding up Windsor Castle on his new mode of transportation
The Telegraph
Wout Weghorst Netherlands’ saviour as they repel Turkey onslaught to claim Euro 2024 semi-final spot
He did not score this time but super-sub Wout Weghorst was the Netherlands’ saviour once again as they survived a Turkey tsunami to set up a mouthwatering European Championship semi-final against England.
INSIDER
Israel is inching toward a wider war and a nasty fight against an enemy poised to bombard it as no other foe has
Israel and Hezbollah have regularly exchanged fire for months, but increasingly escalatory rhetoric has raised fears of a wider conflict.

Zacks Rank and Other Stocks to Consider

Latest stories