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Canadian National (CNI) Signs MoU for Clean Energy Terminal
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Canadian National Railway Company (CNI - Free Report) 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.
Some other top-ranked stocks in the broader Zacks Transportation sector that investors can consider are GATX Corporation (GATX - Free Report) ,Triton International Limited and Teekay Tankers Ltd. (TNK - Free Report) ,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.
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Canadian National (CNI) Signs MoU for Clean Energy Terminal
Canadian National Railway Company (CNI - Free Report) 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 - Free Report) , Triton International Limited and Teekay Tankers Ltd. (TNK - Free Report) ,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.