Core Points - TC Energy Corporation announced the conversion of its fixed rate Cumulative Redeemable First Preferred Shares, Series 1 into floating rate Series 2 Shares and vice versa, effective December 31, 2024 [2][3] - The Series 1 Shares will pay a fixed annualized dividend of 4.939% for a five-year period starting December 31, 2024 [1] - The Series 2 Shares will pay a floating rate quarterly dividend, starting at 5.401% for the first period from December 31, 2024 to March 31, 2025, with rates reset quarterly [8] Share Conversion Details - A total of 42,200 Series 1 Shares will convert to Series 2 Shares, while 3,889,020 Series 2 Shares will convert to Series 1 Shares [2] - Post-conversion, TC Energy will have 18,424,004 Series 1 Shares and 3,575,996 Series 2 Shares outstanding [7] Future Conversion Opportunities - Holders of both Series 1 and Series 2 Shares will have the option to convert their shares again on December 31, 2029, and every five years thereafter [3]

iREIT+HOYA Capital is the premier income-focused investing service on Seeking Alpha. Our focus is on income-producing asset classes that offer the opportunity for sustainable portfolio income , diversification , and inflation hedging . Get started with a Free Two-Week Trial and take a look at our top ideas across our exclusive income-focused portfolios.It’s been a few months since I covered TC Energy (NYSE: TRP ) in my last article back in September, highlighting its value proposition amidst robust demand f ...

TC Energy Corporation (TRP) , a Calgary, Alberta-based oil and gas storage and transportation company, has withdrawn from Project Tundra, a crucial $2 billion initiative aimed at capturing CO2 emissions from the Milton R. Young Station coal-fired power plant. According to Politico, this decision marks a significant shift for North Dakota’s ambitious carbon capture project and is expected to delay the final construction decision. This move presents new challenges for the project’s future. It has sparked reac ...

CALGARY, Alberta, Dec. 02, 2024 (GLOBE NEWSWIRE) -- News Release – TC Energy Corporation (TSX:TRP) (NYSE:TRP) (TC Energy) today announced that it does not intend to exercise its right to redeem its Cumulative Redeemable First Preferred Shares, Series 1 (Series 1 Shares) and Cumulative Redeemable First Preferred Shares, Series 2 (Series 2 Shares) on Dec. 31, 2024. As a result, subject to certain conditions: (a)  the holders of Series 1 Shares have the right to choose one of the following options with regard ...

TC Energy Corporation (TRP) , a Calgary, Alberta-based oil and gas storage and transportation company, has entered into a memorandum of understanding (“MOU”) with Hanwha Power Systems, a global leader in air and gas compressor technology, to work on an innovative project aimed at cleaner energy. The collaboration focuses on using supercritical carbon dioxide (sCO2) technology to capture and convert waste heat from TRP’s natural gas compressor station in West Virginia into renewable energy. This project repr ...

TC Energy Corporation (TRP) , one of Canada’s leading energy infrastructure companies, recently announced that its plan to sell a stake in its Western Canadian gas pipeline system to Indigenous communities may not unfold as originally designed. This deal, which was set to be the largest Indigenous equity transaction in the history of Canada, has faced unforeseen delays and complications, potentially jeopardizing its completion. Background of the Proposed TRP DealTC Energy’s original plan was to sell an inte ...

Core Viewpoint - TC Energy Corporation (TRP) has provided a positive fiscal 2025 guidance, estimating a comparable EBITDA between C$10.7 billion and C$10.9 billion, reflecting growth from its 2024 outlook [1][2][16] Group 1: Demand and Growth Drivers - The anticipated increase in EBITDA for FY2025 is primarily driven by the rising demand for natural gas, which is becoming essential as the world shifts towards cleaner energy sources [3][16] - TC Energy is strategically enhancing its infrastructure to meet the growing energy demands across North America, particularly in natural gas and nuclear power [2][4] Group 2: Key Projects - TC Energy is investing C$1.5 billion in four key growth projects, including the Pulaski and Maysville projects, each with a C$400 million investment aimed at converting coal-fired power plants to natural gas [4][5] - The Southeast Virginia Energy Storage Project, a C$300 million LNG peaking facility, is designed to address energy demand during winter peak days [7][8] - An investment of C$175 million in the Bruce Power nuclear facility aims to increase its peak production capacity to 7,000 MW, supporting Ontario's low-carbon electricity needs [9][10][11] Group 3: Financial Stability - Approximately 97% of TC Energy's estimated revenues are secured through rate regulation and long-term take-or-pay contracts, providing a stable financial outlook [12][13] - These contracts ensure a reliable income stream, allowing the company to make long-term investments with confidence [12][13] Group 4: Future Prospects - TC Energy's strategic investments in natural gas and nuclear energy position the company for continued success, with plans to diversify its energy portfolio further [14][15] - The company is focused on meeting the increasing reliance on electrification and decarbonization, which will drive the need for additional infrastructure and innovative solutions [15][16]

TC Energy Corporation (TRP)  reported third-quarter 2024 adjusted earnings of 76 cents per share, which beat the Zacks Consensus Estimate of 70 cents. The bottom line slightly increased from 75 cents reported in the year-ago period. This better-than-expected performance was driven by robust results from the company's Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines and Power and Energy Solutions segments.This North America’s energy infrastructure pr ...

CALGARY, Alberta, Nov. 12, 2024 (GLOBE NEWSWIRE) -- TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) will host its annual Investor Day on Tuesday, Nov. 19, 2024. Members of TC Energy’s senior leadership team will demonstrate the Company’s 2025 strategic priorities, long-term strategic outlook and growth objectives. The event will be webcast (video) beginning at 8 a.m. EST (6 a.m. MST). Interested parties may view the webcast available on TC Energy’s website at Investor Day 2024 (tcenergy.co ...

Core Viewpoint - TC Energy reported quarterly earnings of $0.76 per share, exceeding the Zacks Consensus Estimate of $0.70 per share, and showing a slight increase from $0.75 per share a year ago, indicating an earnings surprise of 8.57% [1] Financial Performance - The company achieved revenues of $2.99 billion for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 5.95%, and showing an increase from $2.94 billion year-over-year [2] - Over the last four quarters, TC Energy has consistently surpassed consensus EPS estimates and revenue estimates [2] Stock Performance - TC Energy shares have increased approximately 23.6% since the beginning of the year, compared to the S&P 500's gain of 24.3% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.72 on revenues of $3.08 billion, and for the current fiscal year, it is $3.02 on revenues of $11.94 billion [7] - The trend of estimate revisions for TC Energy is mixed, which may change following the recent earnings report [6] Industry Context - The Alternative Energy - Other industry, to which TC Energy belongs, is currently ranked in the bottom 35% of over 250 Zacks industries, suggesting potential challenges ahead [8]