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Research analysts who have asked questions during TC ENERGY earnings calls.
Jeremy Tonet
JPMorgan Chase & Co.
4 questions for TRP
Praneeth Satish
Wells Fargo
4 questions for TRP
Theresa Chen
Barclays PLC
4 questions for TRP
Benjamin Pham
BMO Capital Markets
3 questions for TRP
John Mackay
Goldman Sachs Group, Inc.
3 questions for TRP
Maurice Choy
RBC Capital Markets
3 questions for TRP
Robert Catellier
CIBC Capital Markets
3 questions for TRP
Aaron MacNeil
TD Cowen
2 questions for TRP
Keith Stanley
Wolfe Research, LLC
2 questions for TRP
Robert Hope
Scotiabank
2 questions for TRP
Ben Pham
BMO Capital Markets
1 question for TRP
Burke Sansiviero
Wolfe Research, LLC
1 question for TRP
Jessica Hoyle
Scotiabank
1 question for TRP
Manav Gupta
UBS Group
1 question for TRP
Olivia Halferty
Goldman Sachs
1 question for TRP
Patrick Kenny
National Bank Financial
1 question for TRP
Robert Kwan
RBC Capital Markets
1 question for TRP
Zackery Van Everen
Tudor, Pickering, Holt & Co.
1 question for TRP
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Blue Cloud Wind Farm | 2023 | TC Energy acquired the Blue Cloud Wind Farm on June 14, 2023, located in Bailey County, Texas, for US$125 million with a capacity of 148 MW; the deal involved acquiring 100% of the Class B Membership Interests and is accounted for as an asset acquisition without the recognition of goodwill. |
Fluvanna Wind Farm | 2023 | TC Energy closed the acquisition of the 155-MW Fluvanna Wind Farm on March 15, 2023, in Scurry County, Texas, for US$99 million (before post-closing adjustments), structuring the transaction with tax equity investors and applying the HLBV method to allocate earnings, while recording a non-controlling interest for the tax equity investor at an estimated fair value. |
KO Transmission assets | 2022 | Approved on April 28, 2022, for approximately US$80 million, this acquisition is aimed to integrate the assets into TC Energy's Columbia Gas pipeline to enhance last-mile connectivity and support future capital investments, pending FERC approval expected by the end of 2022. |
Recent press releases and 8-K filings for TRP.
- TC Energy Corporation (TRP) announced the closing of an offering of US$350 million of 6.250 per cent Fixed-for-Life Junior Subordinated Notes due November 1, 2085, by its subsidiary TransCanada PipeLines Limited.
- The net proceeds from this offering will be used to redeem its outstanding Cumulative Redeemable First Preferred Shares, Series 11, on November 28, 2025.
- The Series 11 Shares will be redeemed at a price of $25.00 per share.
- A final quarterly dividend of $0.2094375 per Series 11 Share is expected to be declared, payable on November 28, 2025, to shareholders of record on November 17, 2025.
- Subsequent to the redemption date, the Series 11 Shares will cease to be entitled to dividends and will be delisted from the Toronto Stock Exchange.
- TC Energy Corporation (TRP) announced on October 6, 2025, that its subsidiary, TransCanada PipeLines Limited (TCPL), is considering an offering of U.S. Junior Subordinated Notes.
- If a successful offering is completed, the net proceeds are intended to redeem its issued and outstanding Cumulative Redeemable First Preferred Shares, Series 11, reduce indebtedness, and for general corporate purposes.
- The company stated that there is no certainty that TCPL will ultimately complete the offering or as to the timing or terms on which such an offering might be completed.
- TC Energy Corporation has commenced the collection of tolls for the Southeast Gateway pipeline and received payment from the Comisi\u00f3n Federal de Electricidad (CFE) for May, on time.
- The Southeast Gateway pipeline project was completed at a final cost of approximately US$3.9 billion, which is 13 per cent under the original cost estimate.
- This 1.3 Bcf/d, 715-kilometre natural gas pipeline was constructed in less than three years and is designed to supply natural gas to fuel Mexico\u2019s economic growth.
- Strategic Focus: Renewed emphasis on natural gas and power generation post Liquids Pipeline spin-off with significant capital projects, including the Northwoods expansion and a $1.1 billion nuclear investment .
- Corporate Governance Update: 2024 Annual Report reviewed with board elections featuring the appointment of Scott Bonham and Dawn Madahbee Leach, alongside the retirement of two directors .
- Shareholder Rights Plan Update: Issuance of new rights certificates, with supplements and amendments detailing provisions on fractional rights, fractional shares, and regulatory approvals, as well as session approval of amendments and a 3.3% dividend increase marking 25 consecutive years of growth .
- Strong Q1 2025 Performance: Delivered solid comparable earnings near $1.0 billion from continuing operations alongside record safety and throughput improvements with a 6% increase in system throughput and multiple all-time delivery records .
- Capital Projects Guidance: On track to bring $8.5 billion of assets into service, with capital expenditures initially expected between $5.5–$6 billion and an updated outlook of $6.1–$6.6 billion .
- EBITDA Outlook: Reaffirmed 2025 EBITDA guidance at $10.7–10.9 billion with projections growing to $11.7–11.9 billion by 2027, supported by long-term contracts and low commodity price risk .
- Advancing Strategic Projects: Key initiatives include the Northwoods project for U.S. electric generation and the Southeast Gateway pipeline anticipated to commence service after regulatory approval by end-May 2025 .
- TC Energy announced that it will release its Q1 2025 financial results on May 1, 2025, at 6:30 a.m. MDT / 8:30 a.m. EDT, providing key financial updates for investors.
- The company will host its annual meeting of common shareholders on May 8, 2025, via a virtual live webcast, including a Q&A session, emphasizing transparency and investor engagement.