Tc Energy Corporation Stock Price, News & Analysis

TC Energy Corporation (NYSE: TRP) is set to initiate pre-construction activities for the $146 million Saddlebrook Solar Project near Aldersyde, Alberta, aiming to generate 81 megawatts of energy—enough to power 20,000 homes annually. Supported by $10 million from Emissions Reduction Alberta, this marks TC Energy's first utility-scale solar project. Construction is expected to be completed in 2023, creating approximately 140 job opportunities during that phase. The project aligns with TC Energy's commitment to low-carbon energy solutions and sustainable development.

TC Energy Corporation (TSX: TRP) has successfully completed a public offering of 28.4 million common shares at $63.50 each, raising gross proceeds of approximately $1.8 billion. This offering was underwritten by RBC Capital Markets and Scotiabank, with an additional over-allotment option of 2.84 million shares. The funds will primarily support the construction of the Southeast Gateway Pipeline, a $4.5 billion project in Mexico, while temporarily using proceeds for debt reduction or liquid investments.

TC Energy Corporation (TSX: TRP) has announced a bought deal agreement to issue 28.4 million common shares at $63.50 each, raising gross proceeds of approximately $1.8 billion. An over-allotment option allows for an additional 2.84 million shares, potentially increasing total proceeds to around $2 billion. The funds will support the construction of the Southeast Gateway Pipeline, a $4.5 billion project in Mexico. The offering is expected to close by August 10, 2022, pending necessary approvals.

TC Energy Corporation has formed a strategic alliance with Mexico's Comisión Federal de Electricidad (CFE) to enhance natural gas infrastructure, expected to benefit millions with cleaner energy. The partnership consolidates existing pipeline assets under a single U.S. dollar-denominated Transportation Service Agreement (TSA) extending until 2055. Key developments include a US$4.5 billion Southeast Gateway Pipeline project, likely to boost TC Energy's secured capital program to US$33 billion and positively impact its EBITDA growth outlook.

TC Energy Corporation (TRP) announced a quarterly dividend of $0.90 per common share for the quarter ending September 30, 2022. This dividend is payable on October 31, 2022 to shareholders of record as of September 30, 2022. Additionally, several quarterly dividends were declared for Cumulative First Preferred Shares, including Series 1 at $0.2174375 per share payable on September 29, 2022. The dividends are eligible under the Income Tax Act in Canada, providing tax benefits for Canadian residents.

TC Energy Corporation (TRP) reported strong second-quarter results, with net income at $0.9 billion or $0.90 per share, reflecting solid utilization across its asset base. The company highlighted high demand for natural gas and significant progress in its Coastal GasLink project, now 70% complete, expected to be operational by late 2023. Comparable EBITDA for 2022 is anticipated to be modestly higher than in 2021, with total capital expenditures projected at $8.5 billion due to increased costs. The company's dividend remains robust at $0.90 per share, with an annual growth target of 3-5%.

TC Energy Corporation (NYSE: TRP) will host a teleconference on July 28, 2022, at 9 a.m. MDT to discuss its second quarter financial results, which will be released pre-market. Key executives, including President François Poirier and CFO Joel Hunter, will present financial results and company developments. Interested parties can join the call by calling 1-800-319-4610. A live webcast will also be available on their website. A replay will be accessible until midnight EDT on August 4, 2022. TC Energy focuses on sustainable energy solutions, including natural gas and renewables.