TC Energy

TC Energy Corporation engages in the provision of energy infrastructure services. It operates through the following business segments: Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, Power and Storage, and Corporate. The Canadian Natural Gas Pipelines segment consists of regulated natural gas pipelines. The U.S. Natural Gas Pipelines segment manages the regulated natural gas pipelines, regulated natural gas storage facilities, midstream, and other assets. The Mexico Natural Gas Pipelines invests on regulated natural gas pipelines in Mexico. The Liquids Pipelines handles investments on crude oil pipeline systems. The Power and Storage segment consists of power generation plants and non-regulated natural gas storage facilities. The company was founded in 1951 and is headquartered in Calgary, Canada.

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TC Energy Corp. engages in the provision of energy infrastructure services. It operates through the following business segments: Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, Power and Energy Solutions, and Corporate. The Canadian Natural Gas Pipelines segment refers to regulated natural gas pipelines. The U.S. Natural Gas Pipelines segment manages the regulated natural gas pipelines, regulated natural gas storage facilities, midstream, and other assets. The Mexico Natural Gas Pipelines invests on regulated natural gas pipelines in Mexico. The Liquids Pipelines handles investments in crude oil pipeline systems. The Power and Energy Solutions segment include power generation plants and non-regulated natural gas storage facilities. The company was founded in 1951 and is headquartered in Calgary, Canada.

TC Energy Corporation's yield just hit a 23-year high of 8%, yet the dividend is very conservative and in 2025 TRP becomes a dividend aristocrat. TC Energy announced a spinoff and asset sale that will allow it to grow 7% over time, generating 15% long-term return potential, better than the Nasdaq but with an 8% yield. The company has a self-funding business model, an industry low 50% payout ratio, and the 2nd strongest credit rating in midstream.

It's The Best Time In 23 Years To Buy 8% Yielding TC Energy

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TC Energy's surprise plan last week to split the company accelerated a stock selloff, but shareholders bet the North American pipeline operator will finish the year on a higher note by completing the troubled Coastal GasLink project.

Analysis: TC Energy eyes Coastal GasLink pipeline to finish year on higher note

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TC Energy appears to be materially undervalued and pays a well-covered dividend yield near 8%. It has valuable assets and growth projects that are expected to add value. Negative price action around the stock opens up a terrific opportunity for income investors.

8%-Yielding TC Energy: Opportunity Is Knocking

Canada's TC Energy began re-pressurizing part of its Columbia Gas Transmission Pipeline in Strasburg, Virginia that was not directly impacted by an unplanned incident last week, the company said late on Friday.

TC Energy begins re-pressurizing unaffected pipeline section in Virginia

TC Energy plans to spin off its liquids pipeline operations. The move should enhance the growth of both entities.

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TC Energy Corporation (NYSE:TRP ) Q2 2023 Earnings Conference Call July 28, 2023 8:30 AM ET Company Participants Gavin Wylie - Vice President, Investor Relations Francois Poirier - President and Chief Executive Officer Bevin Wirzba - Executive Vice-President and Group President, Liquids Pipelines and Coastal GasLink Joel Hunter - Executive Vice-President and Chief Financial Officer Stanley Chapman - Executive Vice-President and Chief Operating Officer, Natural Gas Pipelines Conference Call Participants Rob Hope - Scotiabank Patrick Kenny - National Bank Financial Jeremy Tonet - JPMorgan Andrew Kuske - Credit Suisse Robert Kwan - RBC Capital Markets Robert Catellier - CIBC Capital Markets Brian Reynolds - UBS Ben Pham - BMO Keith Stanley - Wolfe Research Operator Thank you for standing by. This is the conference operator.

TC Energy Corporation (TRP) Q2 2023 Earnings Call Transcript

TC Energy Corp plans to spin off its crudie oil pipeline division into a separate business, effectively splitting the energy giant into two companies.  The move, announced after the bell Thursday, will create two publicly traded companies, according to the announcement.

TC Energy to spin off oil pipeline business into separate public company

TC Energy (TRP) announces force majeure after isolating Columbia Gas Line in Virginia, raising energy supply concerns.

TC Energy (TRP) Declares Force Majeure Owing to Pipeline Issue

Shares of TC Energy rose nearly 3% in premarket trading on Thursday after the Keystone pipeline operator disclosed plans to spin off its oil pipelines business to focus solely on transporting natural gas.

TC Energy shares rise on spinoff plans

TC Energy (TRP) came out with quarterly earnings of $0.71 per share, missing the Zacks Consensus Estimate of $0.73 per share. This compares to earnings of $0.78 per share a year ago.

TC Energy (TRP) Q2 Earnings Miss Estimates

Until now, we have recommended avoiding TC Energy Corporation shares due to ongoing operational and management issues. However, the shares have fallen to a point that overly discounts the company's troubles and ignores its high-quality assets and growth prospects. We're upgrading our rating to Buy with a $54 price target.

TC Energy Shares Have Fallen Too Far (Rating Upgrade)

North American pipeline company TC Energy , which has been seeking to sell assets and cut debt, said on Thursday it would spin off its oil pipeline business and focus on transporting natural gas, saying the businesses would be more valuable apart.

TC Energy to spin off oil pipeline business

Unlocking incremental shareholder value through spinning off Liquids Pipelines, integrating our Natural Gas Pipelines business units and utilizing strategic partnerships to enable energy transition and drive energy security

TC Energy reports solid second quarter 2023 results, while significantly advancing Coastal GasLink and Southeast Gateway projects to planned cost and schedule

Separation of the two companies enables greater contribution to energy transition and security Separation of the two companies enables greater contribution to energy transition and security

TC Energy to unlock value by creating two premium energy infrastructure companies with intention to spin off Liquids Pipelines business

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TC Energy (TRP) plans to sell a 40% interest in its Columbia Gas Transmission and Columbia Gulf Transmission systems to Global Infrastructure Partners for raising capital and reducing debt.

TC Energy (TRP) Sells Pipeline Stake to GIP in a $3.9B Deal

The mean of analysts' price targets for TC Energy (TRP) points to a 27.2% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.

Wall Street Analysts See a 27.19% Upside in TC Energy (TRP): Can the Stock Really Move This High?

TC Energy Corporation told investors it has entered into a deal to monetise a 40% interest in its Columbia Gas Transmission (Columbia Gas) and Columbia Gulf Transmission (Columbia Gulf) systems. The company announced in a statement that the two units will be held in a new joint venture (JV) partnership with private equity firm Global Infrastructure Partners (GIP), which will pay C$5.2 billion (US$3.9 billion) in cash for the 40% stake.

TC Energy announces sale of 40% stake in Columbia gas and Columbia Gulf for C$5.2B

TC Energy said on Monday it has entered into an agreement to sell a 40% interest in its Columbia Gas Transmission and Columbia Gulf Transmission pipelines for C$5.2 billion ($3.95 billion).

TC Energy to sell 40% interest in Columbia Gas and Columbia Gulf pipelines for C$5.2 bln

TC Energy Corp. TRP, +0.30% TRP, +0.64% said Monday it agreed to sell a 40% interest in its Columbia Gas Transmission LLC and Columbia Gulf Transmission LLC to private equity firm Global Infrastructure Partners (GIP) for C$5.2 billion ($3.9 billion) in cash. TC Energy will continue to operate the pipelines while TC Energy and GIP will jointly invest in annual maintenance, modernization and provide growth capital to enhance capacity in the system.

TC Energy sells 40% stake in transmission projects to Global Infrastructure Partners for $3.9 bln

CALGARY, Alberta, July 24, 2023 (GLOBE NEWSWIRE) -- News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) announced that it has entered into an agreement to monetize a 40 per cent interest in its Columbia Gas Transmission, LLC (Columbia Gas) and Columbia Gulf Transmission, LLC (Columbia Gulf) systems. Columbia Gas and Columbia Gulf will be held in a new joint venture partnership with Global Infrastructure Partners (GIP). Total proceeds for the transaction are expected to be $5.2 billion (US$3.9 billion) in cash, to be paid at closing, subject to certain customary adjustments. The value of the 40 per cent equity interest implies an enterprise value to a comparable EBITDA1 multiple of approximately 10.5 times TC Energy's base 2023 outlook and expected run-rate capital structure for the partnership entity.

News for TC Energy Stock (TRP)