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TC ENERGY (TRP)

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Research analysts who have asked questions during TC ENERGY earnings calls.

Notable M&A activity and strategic investments in the past 3 years.

CompanyYearDetails

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 Subsidiary Considers U.S. Junior Subordinated Notes Offering
·$TRP
Debt Issuance
  • TC Energy Corporation (TRP) announced on October 6, 2025, that its subsidiary, TransCanada PipeLines Limited (TCPL), is considering an offering of U.S. Junior Subordinated Notes.
  • If a successful offering is completed, the net proceeds are intended to redeem its issued and outstanding Cumulative Redeemable First Preferred Shares, Series 11, reduce indebtedness, and for general corporate purposes.
  • The company stated that there is no certainty that TCPL will ultimately complete the offering or as to the timing or terms on which such an offering might be completed.
7 hours ago
TC Energy Commences Toll Collection for Southeast Gateway Pipeline
·$TRP
New Projects/Investments
Revenue Acceleration/Inflection
  • 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$3.9 billion, which is 13 per cent under the original cost estimate.
  • This 1.3 Bcf/d, 715-kilometre natural gas pipeline was constructed in less than three years and is designed to supply natural gas to fuel Mexico\u2019s economic growth.
Jun 27, 2025, 12:00 AM
TC Energy Strategic Initiatives, Governance Updates & Rights Plan Amendments
·$TRP
Dividends
Board Change
New Projects/Investments
  • 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 $1.1 billion nuclear investment .
  • Corporate Governance Update: 2024 Annual Report reviewed with board elections featuring the appointment of Scott Bonham and Dawn Madahbee Leach, alongside the retirement of two directors .
  • Shareholder Rights Plan Update: Issuance of new rights certificates, with supplements and amendments detailing provisions on fractional rights, fractional shares, and regulatory approvals, as well as session approval of amendments and a 3.3% dividend increase marking 25 consecutive years of growth .
May 9, 2025, 12:00 AM
TC Energy Q1 2025 Performance & Strategic Initiatives Update
·$TRP
Earnings
New Projects/Investments
Guidance Update
  • 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 $11.7–11.9 billion by 2027, supported by long-term contracts and low commodity price risk .
  • Advancing Strategic Projects: Key initiatives include the Northwoods project for U.S. electric generation and the Southeast Gateway pipeline anticipated to commence service after regulatory approval by end-May 2025 .
May 1, 2025, 12:31 PM
TC Energy to Release Q1 2025 Results and Host Annual Meeting
·$TRP
Earnings
  • 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.
Apr 11, 2025, 12:00 AM