Welcome to our dedicated page for TC Energy Corporation news (Ticker: TRP), a resource for investors and traders seeking the latest updates and insights on TC Energy Corporation stock.
TC Energy Corporation (TRP) is a leading energy infrastructure company headquartered in Calgary, Alberta, Canada. With a robust portfolio of natural gas, oil, and power generation assets across North America, TC Energy plays a pivotal role in safely delivering the energy that powers homes, businesses, and industries. The company operates more than 60,000 miles of oil and gas pipelines and has over 650 billion cubic feet of natural gas storage capacity. Additionally, it boasts around 4,300 megawatts of electric power generation capacity.
For over 60 years, TC Energy has committed to sustainable operations, focusing on safety, environmental stewardship, and economic efficiency. This dedication is evident in their proactive approach to addressing global energy demands and driving innovation in energy conservation and efficiency. The company's operations are divided into three primary business segments: natural gas pipelines, liquid pipelines, and energy.
TC Energy is not only significant for its extensive infrastructure but also for its collaborative engagement with stakeholders, ensuring a balanced consideration of societal, environmental, and economic factors in its operations. Recently, the company announced a plan to spin off its Liquids Pipelines business, forming a new entity named South Bow Corporation, which will focus on independent, investment-grade opportunities.
On the financial front, TC Energy continues to deliver solid performance, evidenced by its recent increase in common share dividends for the twenty-fourth consecutive year. Moreover, the company’s management team actively engages with the investment community and stakeholders through regular updates and transparent reporting. Notably, TC Energy's first quarter 2024 financial results will be discussed in an upcoming webcast, showcasing the company's ongoing developments and financial health.
As TC Energy forges ahead, it remains committed to advancing strategic priorities aimed at maximizing shareholder returns and creating long-term value for communities. The company’s common shares are traded on the Toronto (TSX) and New York (NYSE) stock exchanges under the symbol TRP. For more information, visit TC Energy.
TC Energy announces four new growth projects totaling $1.5 billion in capital expenditures at its 2024 Investor Day. The company expects 2025 comparable EBITDA of $10.7 to $10.9 billion. New projects include the $0.4 billion Pulaski Project, $0.4 billion Maysville Project, $0.3 billion Southeast Virginia Energy Storage Project, and Bruce Power's Project 2030. Coastal GasLink achieves commercial in-service status with a $199 million one-time payment expected. TC Energy projects 5-7% EBITDA growth through 2027, with 97% of outlook supported by rate-regulation and long-term contracts.
TC Energy (TSX, NYSE: TRP) announced it will host its annual Investor Day on Tuesday, Nov. 19, 2024. During the event, the company's senior leadership team will present TC Energy's 2025 strategic priorities, long-term strategic outlook, and growth objectives. The webcast will begin at 8 a.m. EST (6 a.m. MST) and will be available on TC Energy's website. A presentation copy and replay of the webcast will be accessible on the company's website after the event.
TC Energy (TSX, NYSE: TRP) has appointed two new independent directors to its Board. Scott Bonham, with extensive governance and finance experience in the technology sector, currently serves on boards of Loblaw Companies and Bank of Nova Scotia, and was co-founder of GGV Capital. Dawn Madahbee Leach, bringing Indigenous relations expertise, is General Manager of Waubetek Business and Chairperson of the National Indigenous Economic Development Board. Both appointments aim to strengthen TC Energy's strategic vision and long-term growth.
TC Energy (TSX, NYSE: TRP) has announced its quarterly dividend declarations. The Board declared a $0.8225 per common share dividend for Q4 2024, payable on January 31, 2025, to shareholders of record as of December 31, 2024. This reflects TC Energy's proportionate allocation following the spinoff Transaction. The company also declared quarterly dividends on various series of Cumulative First Preferred Shares, with different payment dates and amounts. The dividends are designated as eligible dividends for Canadian tax purposes, and shareholders can participate in the Dividend Reinvestment and Share Purchase Plan (DRP) at 100% of the weighted average purchase price on the Toronto Stock Exchange.
TC Energy (TRP) reported strong Q3 2024 results with comparable earnings of $1.1 billion ($1.03 per share) and comparable EBITDA of $2.8 billion. The company expects 2024 comparable EBITDA to reach the upper end of $11.2-$11.5 billion range. Southeast Gateway pipeline project costs were revised down 11% to US$3.9-4.1 billion from US$4.5 billion. Overall 2024 net capital expenditure outlook was reduced 8% to $7.4-7.7 billion. The company completed approximately $1.6 billion in asset divestitures year-to-date and reduced long-term debt by $7.6 billion in October 2024.
TC Energy announced that 1,297,203 of its 18,000,000 Series 9 Preferred Shares were converted to Series 10 Preferred Shares. Following the conversion, TC Energy has 16,702,797 Series 9 Shares and 1,297,203 Series 10 Shares outstanding. The Series 9 Shares will continue trading on TSX under TRP.PR.E, while Series 10 Shares will trade under TRP.PR.L. Series 9 Shares will pay a fixed quarterly dividend at 5.080% annually, while Series 10 Shares will pay a floating rate quarterly dividend, initially set at 6.329% for the period from Oct. 30, 2024, to Jan. 30, 2025.
TC Energy (TSX, NYSE: TRP) announced the conversion election results for its Series 9 Preferred Shares. Out of 18,000,000 fixed rate Cumulative Redeemable First Preferred Shares (Series 9), 1,297,203 shares will be converted to floating rate Series 10 Shares on October 30, 2024. Following the conversion, TC Energy will have 16,702,797 Series 9 Shares and 1,297,203 Series 10 Shares outstanding. The shares will trade on the Toronto Stock Exchange under symbols TRP.PR.E and TRP.PR.L respectively.
TC Energy announced that its subsidiary, TransCanada PipeLines , has increased the Maximum Purchase Amount for its cash tender offers from US$1,750,000,000 to US$1,809,000,000. This increase allows for the acceptance of all Notes with Acceptance Priority Levels 1-5 in full. The offers expired on Oct. 8, 2024, with US$2,870,274,000 aggregate principal amount of Notes validly tendered and not withdrawn. An additional US$78,193,000 was tendered through Guaranteed Delivery Procedures.
The company has accepted US$1,873,968,000 aggregate principal amount of Notes for purchase, excluding those delivered via Guaranteed Delivery Procedures. Notes with Acceptance Priority Levels 6 and 7 were not accepted due to the Maximum Purchase Condition not being satisfied for these series. Holders of accepted Notes will receive the applicable Total Consideration plus the Accrued Coupon Payment.
TC Energy (TSX, NYSE: TRP) announced that its subsidiary, TransCanada PipeLines , has released pricing terms for cash tender offers to purchase up to US$1,750,000,000 aggregate principal amount of outstanding notes. The offers cover seven series of notes with various maturity dates and interest rates. The Total Consideration for each series was calculated based on the Fixed Spread and Reference Yield specified for each note.
The offers will expire at 5 p.m. (Eastern time) on Oct. 8, 2024, unless extended or terminated earlier. Notes can be validly withdrawn until the same time and date. Settlement for all tendered notes is expected to be Oct. 15, 2024. Holders of accepted notes will receive the Total Consideration plus accrued and unpaid interest. The offers are subject to certain conditions as described in the Offer to Purchase document.
TC Energy (TSX, NYSE: TRP) has announced that it will not redeem its Cumulative Redeemable First Preferred Shares, Series 9 on Oct. 30, 2024. Shareholders have two options: retain their Series 9 Shares with a new fixed dividend rate of 5.080% annually, or convert to Series 10 Shares with a floating quarterly dividend rate, initially set at 6.329% for the first quarter. The conversion deadline is 5 p.m. (EDT) on Oct. 15, 2024. If less than one million shares of either series would remain outstanding after conversion, TC Energy may automatically convert all shares to the other series or prevent any conversions. Shareholders will have future opportunities to convert their shares every five years, with the next date being Oct. 30, 2029.
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