Tc Energy Corporation Stock Price, News & Analysis

TC Energy Corporation (NYSE: TRP) and Irving Oil have signed a memorandum of understanding to explore joint energy projects aimed at reducing greenhouse gas emissions in New Brunswick and Atlantic Canada. The partnership will focus on upgrading Irving Oil's refinery and developing technologies for low emission hydrogen production and carbon capture. This collaboration aims to lower regional emissions and create economic opportunities. The preliminary projects will hinge on feasibility studies and regulatory approvals.

TC Energy Corporation (TRP) has declared a quarterly dividend of $0.87 per common share for the quarter ending September 30, 2021, payable on October 29, 2021. Shareholders of record by September 30, 2021 will receive this dividend. Additionally, dividends for Cumulative First Preferred Shares have been announced, ranging from $0.08752603 to $0.30625 per share, with varying payment dates. These dividends are eligible under the Income Tax Act (Canada), offering enhanced tax credits to Canadian residents.

TC Energy Corporation reported a net income of $982 million or $1.00 per share for Q2 2021, down from $1.3 billion or $1.36 per share in the same period in 2020. Comparable earnings increased to $1.0 billion or $1.07 per share. The company declared a quarterly dividend of $0.87, annualized at $3.48. TC Energy is advancing a $21 billion capital program, with a recent $0.7 billion project sanctioned to reduce emissions. Despite challenges, they expect comparable earnings for the full year to remain consistent with last year's record.

TC Energy Corporation (TRP) announced an agreement with the Department of National Defence for a 1,000-megawatt clean energy storage project in Ontario. This initiative is projected to generate over $250 million in annual savings for consumers and create approximately 1,000 jobs during construction. The project aims to cut greenhouse gas emissions by 490,000 tonnes and is expected to provide a total of $12.1 billion in energy cost benefits. It remains subject to regulatory approvals and consultations with Indigenous communities.

TC Energy Corporation (NYSE: TRP) announced a teleconference set for July 29, 2021, at 9 a.m. MDT to discuss its second quarter financial results, which will be released before the market opens. The leadership team, including President François Poirier and CFO Don Marchand, will provide insights on company developments. Interested parties can join by calling 1-800-319-4610 or via a live webcast on TC Energy's website. A replay will be available after the call until August 5, 2021.

TC Energy (NYSE: TRP) has filed a Notice of Intent to initiate a NAFTA claim to recover over US$15 billion in damages due to the U.S. Government's revocation of the Keystone XL Project’s Presidential Permit. The claim is based on what TC Energy identifies as a breach of NAFTA obligations. This filing was made with the U.S. Department of State, highlighting the company's effort to seek compensation for economic damages resulting from this decision.

Pembina Pipeline and TC Energy have announced a collaboration to develop the Alberta Carbon Grid (ACG), a carbon transportation and sequestration system aiming to transport over 20 million tonnes of CO2 annually. This project utilizes existing pipeline infrastructure to connect major industrial emitters with sequestration hubs, supporting Alberta's goal of reducing greenhouse gas emissions by 40-45% by 2030. The ACG, with a target operational phase by 2025, aims to create job opportunities and enhance economic growth while positioning the companies as leaders in the carbon capture utilization and storage industry.

On June 14, 2021, TC Energy Corporation appointed William D. Johnson as an independent director. Johnson brings extensive experience from his past leadership roles at PG&E Corporation, Tennessee Valley Authority, and Progress Energy. His expertise in the energy sector is expected to provide valuable insights and strengthen TC Energy's Board of Directors. The company, known for its natural gas and crude oil pipeline network, continues to focus on delivering sustainable energy solutions across North America.

TC Energy has terminated the Keystone XL Pipeline Project after a comprehensive review and consultations with the Government of Alberta. Construction was already suspended following the revocation of its Presidential Permit in January 2021. The company aims to ensure a safe exit from the Project while continuing to meet environmental and regulatory commitments. TC Energy remains optimistic about future growth opportunities, with $20 billion in secured projects and $7 billion under development to support energy transition efforts.