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) generates a steady stream of news related to its North American natural gas infrastructure and power assets. As an energy infrastructure company with operations in Canada, the United States and Mexico, its disclosures cover topics ranging from quarterly financial performance to major pipeline and power project milestones.
Investors following TRP news can expect regular updates on quarterly and annual results, including comparable earnings, EBITDA and segmented performance across Canadian, U.S. and Mexican natural gas pipelines and power and energy solutions. The company frequently issues releases on its financial outlook, capital spending plans and growth project pipeline, highlighting new natural gas pipeline expansions and power-related investments backed by long-term contracts.
TC Energy’s news flow also includes announcements about major infrastructure projects. Recent examples described by the company include the completion and toll collection on the Southeast Gateway pipeline in Mexico, expansions on systems such as Columbia Gulf and NGTL, and projects designed to serve LNG export markets and natural gas-fired power generation. These updates provide context on how TC Energy’s assets support natural gas demand, LNG exports and power markets across North America.
Capital markets and balance sheet developments are another key news theme. TC Energy issues releases on dividends for its common and preferred shares, preferred share redemptions and features such as conversion rights between fixed and floating rate preferred series. The company also reports on debt offerings, including junior subordinated notes issued by TransCanada PipeLines Limited, and how proceeds are intended to be used within its capital structure.
In addition, TC Energy publishes notices of investor events such as teleconferences and webcasts for quarterly results, where management discusses financial performance, strategic priorities and long-term outlook. For investors and observers, the TRP news page offers a consolidated view of these financial, operational and capital structure developments over time.
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.
TC Energy announced that its subsidiary, TransCanada PipeLines , has initiated cash tender offers for seven series of outstanding notes, up to a maximum of US$1,750,000,000 aggregate Total Consideration. The offers are based on acceptance priority levels and are subject to conditions outlined in the Offer to Purchase dated October 1, 2024. The offers will expire at 5:00 p.m. (Eastern time) on October 8, 2024, unless extended or terminated earlier. Notes may be withdrawn until the same time and date.
The settlement date is expected to be October 15, 2024. Holders of accepted notes will receive the applicable Total Consideration plus accrued interest. The Company's obligation to complete an offer is subject to the Maximum Purchase Condition and other conditions described in the Offer to Purchase. The Company has retained Deutsche Bank Securities Inc., J.P. Morgan Securities , Morgan Stanley & Co. , and RBC Capital Markets, as dealer managers for the offers.
TC Energy (TSX, NYSE: TRP) has completed the spinoff of its Liquids Pipelines business into South Bow (SOBO). This strategic move positions TC Energy as a focused natural gas infrastructure and power and energy solutions company. The spinoff aims to maximize shareholder value and capture unique opportunities in the energy sector.
Key points:
- TC Energy shares will resume trading on TSX and NYSE on Oct. 2, 2024, under TRP
- South Bow shares will start trading on TSX on Oct. 2, 2024, and on NYSE around Oct. 8, 2024
- TC Energy will release Q3 2024 financial results on Nov. 7, 2024
- An Investor Day is planned for Nov. 19, 2024, to discuss strategic priorities and growth objectives
TC Energy (TRP) has announced a delay in its previously disclosed equity interest purchase transaction with an Indigenous-owned investment partnership. The delay is due to a transaction structuring issue within the NGTL partnership. The deal involves the sale of a minority equity interest in the NGTL System and Foothills Pipeline assets. TC Energy remains committed to developing a transaction that provides meaningful distributions to Indigenous Communities while maintaining the fundamental value of the assets. The company will provide material updates as they become available.