Tc Energy Corporation Stock Price, News & Analysis

TC Energy (TSX, NYSE: TRP) has announced it will release its fourth quarter 2024 financial results on February 14, 2025. The company will host a teleconference and webcast at 6:30 a.m. MST / 8:30 a.m. EST on the same day.

President and CEO François Poirier, Executive Vice-President and CFO Sean O'Donnell, along with other executive leadership team members, will discuss the financial results and company developments. Investors and interested parties can participate via phone or through a live webcast on TC Energy's website.

The conference call replay will be available until February 21, 2025. Participants can pre-register for the call to bypass the operator queue and receive calendar booking details with a unique PIN.

TC Energy announced the results of its preferred shares conversion elections. 42,200 of its 14,577,184 Series 1 Shares will convert to Series 2 Shares, while 3,889,020 of its 7,422,816 Series 2 Shares will convert to Series 1 Shares on December 31, 2024. After conversion, TC Energy will have 18,424,004 Series 1 Shares and 3,575,996 Series 2 Shares outstanding.

The Series 1 Shares will pay a fixed quarterly dividend at an annualized rate of 4.939%, while Series 2 Shares will pay a floating rate quarterly dividend, initially set at 5.401% for the period from December 31, 2024, to March 31, 2025. Both share classes will maintain their TSX listings under TRP.PR.A and TRP.PR.F symbols.

TC Energy (TRP) announced it will not redeem its Series 1 and Series 2 Preferred Shares on Dec. 31, 2024. Holders of Series 1 Shares can either retain their shares with a new fixed quarterly dividend rate of 4.939% (until Dec. 31, 2029) or convert to Series 2 Shares with a floating rate of 5.401% (until Mar. 31, 2025). Similarly, Series 2 shareholders can keep their shares at the floating rate or convert to Series 1 Shares. Conversion rights must be exercised by 5 p.m. EST on Dec. 16, 2024. If either series falls below one million shares after conversion, automatic conversion to the other series will occur.

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.