Tc Energy Corporation Stock Price, News & Analysis

UGI (NYSE: UGI) has announced the election of Tina Faraca to its Board of Directors, effective August 7, 2024. Ms. Faraca, currently serving as Executive Vice President and President of U.S. Natural Gas Pipelines at TC Energy , brings extensive experience in energy infrastructure and strategic planning. Her appointment is expected to bolster UGI's leadership with her industry expertise and operational knowledge.

Prior to her role at TC Energy, Ms. Faraca held key positions at Enable Midstream Partners and Enbridge, showcasing a strong background in commercial operations and strategic development within the energy sector. UGI's Interim President and CEO, Mario Longhi, expressed confidence that Ms. Faraca's experience will be a valuable asset to the company's board.

TC Energy (TSX, NYSE: TRP) has declared a quarterly dividend of $0.96 per common share for the quarter ending Sept. 30, 2024, payable on Oct. 31, 2024, to shareholders of record as of Sept. 27, 2024. The company also announced dividends on various series of Cumulative First Preferred Shares, with different payment dates and amounts. These dividends are designated as eligible dividends for Canadian tax purposes, offering an enhanced dividend tax credit for Canadian residents.

TC Energy's Dividend Reinvestment and Share Purchase Plan (DRP) allows for the purchase of common shares on the Toronto Stock Exchange at 100% of the weighted average purchase price using reinvested cash dividends. The DRP is available for both common and preferred share dividends.

TC Energy (TSX, NYSE: TRP) reported strong Q2 2024 results, with 10% year-over-year growth in comparable EBITDA and 35% growth in segmented earnings. Key highlights include:

- Comparable earnings of $1.0 billion or $0.94 per share
- Comparable EBITDA of $2.7 billion, up from $2.5 billion in 2023
- Reaffirmed 2024 outlook with comparable EBITDA expected at $11.2 to $11.5 billion
- Shareholders approved the spinoff of Liquids Pipelines business
- Announced $2.6 billion in asset divestitures
- Declared quarterly dividend of $0.96 per common share

The company made significant progress on strategic initiatives, including the Southeast Gateway pipeline project and advancing its deleveraging efforts. TC Energy remains focused on maximizing asset value, project execution, and streamlining operations for the remainder of 2024.

TC Energy (TSX, NYSE: TRP) has announced a historic $1 billion equity interest purchase agreement for a 5.34% minority stake in its NGTL System and Foothills Pipeline assets. This partnership, backed by the Alberta Indigenous Opportunities (AIOC), will enable up to 72 Indigenous Communities across Alberta, British Columbia, and Saskatchewan to become equity owners in the 25,000-kilometer natural gas infrastructure network.

The AIOC will provide a $1 billion equity loan guarantee to support the newly-formed Indigenous-owned investment partnership. This agreement is expected to create long-term revenue sources for Indigenous Communities, fostering economic sovereignty and prosperity. The transaction is anticipated to close in the third quarter of 2024, subject to Community approvals and financing.

TC Energy (TSX, NYSE: TRP) will release its second quarter 2024 financial results on Aug. 1, 2024. A teleconference and webcast will be held at 6:30 a.m. MDT / 8:30 a.m. EDT, led by CEO François Poirier and CFO Sean O'Donnell. The event will cover both financial results and company developments, accessible via toll-free numbers or international dial-ins, with no passcode required. Pre-registration is available to secure a unique PIN for quick access. The webcast will be live-streamed on TC Energy’s website and available for replay post-event. A teleconference replay will be available until Aug. 8, 2024.

TC Energy (TSX, NYSE: TRP) announced that shareholders approved the spinoff of its Liquids Pipelines business into a new public company, South Bow Shareholders will receive one common share of TC Energy and 0.2 shares of South Bow for each TC Energy share held. The separation is anticipated to occur in late Q3 to mid Q4 2024. The spinoff aims to create two focused energy infrastructure companies, each promising compelling dividends. The vote also saw the election of TC Energy's Board of Directors, with strong support for all nominees. The spinoff is subject to regulatory and court approvals.

TC Energy (NYSE: TRP) plans to appeal a Delaware Chancery Court decision regarding its 2016 acquisition of Columbia Pipeline Group. The court ruled that the former CEO and CFO of Columbia breached their fiduciary duties to shareholders, and that TC Energy aided and abetted these breaches. Consequently, TC Energy and the former Columbia executives are each responsible for half of the awarded damages, totaling US$398.4 million. TC Energy's share amounts to US$199.2 million, plus an estimated US$179.5 million in interest. TC Energy disputes the court's findings and aims for the appeal to conclude by mid-2025, posting a bond to cover the damages in the meantime.

TC Energy (TRP) declared a quarterly dividend of $0.96 per common share for the quarter ending June 30, 2024. The Board also declared dividends on various Cumulative First Preferred Shares. These dividends are designated as eligible dividends for tax purposes, with an enhanced dividend tax credit for Canadian residents. The company's Dividend Reinvestment and Share Purchase Plan (DRP) allows shareholders to reinvest cash dividends at a discounted price.

TC Energy (TRP) reported strong first quarter 2024 financial results with a focus on maximizing shareholder returns. The company achieved 11% year-over-year growth in comparable EBITDA and a 4% growth in segmented earnings. They are reaffirming their 2024 outlook with expected EBITDA of $11.2 to $11.5 billion. TC Energy advanced their $3 billion asset divestiture program and remain committed to limiting annual net capital expenditures. The company is progressing towards enhancing balance sheet strength and achieving their debt-to-EBITDA target by year end 2024. TC Energy's Board of Directors announced the appointment of a new CFO, declared a quarterly dividend, and provided updates on strategic initiatives, including the spinoff of the Liquids Pipelines business.