Core Points - South Bow Corp. held its annual general meeting on May 15, 2025, where shareholders approved all resolutions presented [1][2] - The company appointed 11 board members with voting in favor ranging from 96.51% to 99.83% [1] - KPMG LLP was appointed as the company's auditors with 99.76% of votes in favor [2] - The approach to executive compensation was accepted with 95.95% of votes in favor [2] Company Overview - South Bow operates 4,900 kilometers (3,045 miles) of crude oil pipeline infrastructure, connecting Alberta crude oil supplies to U.S. refining markets [2] - The company is based in Calgary, Alberta, and is a spinoff from TC Energy, officially becoming a standalone entity on October 1, 2024 [2]

Core Points - TC Energy Corporation held its 2025 annual meeting of shareholders where 13 nominees were elected as directors, with voting results showing a high level of support for each nominee [1] Group 1: Election Results - Scott Bonham received 677,017,619 votes (99.84% for, 0.16% against) [1] - Cheryl F. Campbell received 673,225,982 votes (99.28% for, 0.72% against) [1] - Michael R. Culbert received 673,422,055 votes (99.31% for, 0.69% against) [1] - William D. Johnson received 665,190,544 votes (98.10% for, 1.90% against) [1] - Susan C. Jones received 673,349,772 votes (99.30% for, 0.70% against) [1] - John E. Lowe received 663,231,215 votes (97.81% for, 2.19% against) [1] - Dawn Madahbee Leach received 677,045,840 votes (99.85% for, 0.15% against) [1] - François L. Poirier received 673,662,897 votes (99.35% for, 0.65% against) [1] - Una Power received 666,886,403 votes (98.35% for, 1.65% against) [1] - Mary Pat Salomone received 669,245,147 votes (98.70% for, 1.30% against) [1] - Siim A. Vanaselja received 665,004,883 votes (98.07% for, 1.93% against) [1] - Thierry Vandal received 668,886,158 votes (98.64% for, 1.36% against) [1] - Dheeraj "D" Verma received 671,156,491 votes (98.98% for, 1.02% against) [1] Group 2: Company Overview - TC Energy operates a unique network of natural gas infrastructure assets, providing energy solutions across North America and globally through LNG exports [2] - The company employs over 6,500 energy professionals dedicated to connecting the world to necessary energy resources [2] - TC Energy's common shares are traded on both the Toronto (TSX) and New York (NYSE) stock exchanges under the symbol TRP [3]

Core Insights - TC Energy Corporation (TRP) reported first-quarter 2025 adjusted earnings of 66 cents per share, missing the Zacks Consensus Estimate of 70 cents, and down from 92 cents in the same period last year [1] - The company's quarterly revenues were $2.5 billion, which also fell short of the Zacks Consensus Estimate by $18 million and decreased by 19.8% year over year [1] Financial Performance - Comparable EBITDA for the quarter was C$2.7 billion, up 1% from the previous year and exceeding model estimates by 2.4% [2] - The board declared a quarterly dividend of 85 Canadian cents per common share, payable on July 31, 2025 [2] Segment Performance - Canadian Natural Gas Pipelines reported a comparable EBITDA of C$890 million, a 5.2% increase year over year, driven by higher flow-through costs and contributions from Coastal GasLink [3] - U.S. Natural Gas Pipelines reported a comparable EBITDA of C$1.4 billion, indicating a 4.7% increase from the prior year [5] - Mexico Natural Gas Pipelines reported a comparable EBITDA of C$233 million, up 8.9% from the previous year but missing estimates [7] - Power and Energy Solutions saw a comparable EBITDA of C$224 million, down 30% from the previous year due to lower contributions from Bruce Power and lower realized power prices [8] Operational Metrics - Canadian Natural Gas Pipelines deliveries averaged 27.6 billion cubic feet per day (Bcf/d), an 8% increase compared to the first quarter of 2024 [4] - U.S. Natural Gas Pipelines' daily average flows reached 31 Bcf/d, reflecting a 5% increase year over year [6] - Mexico Natural Gas Pipelines flows averaged 3.1 Bcf/d, up 6% from the first quarter of 2024 [7] Capital Expenditures and Financial Position - As of March 31, 2025, capital investments amounted to C$1.8 billion, with cash and cash equivalents of C$2 billion and long-term debt of C$45 billion, resulting in a debt-to-capitalization ratio of 61.1% [10][11] Future Guidance and Projects - TC Energy plans to bring approximately C$8.5 billion in projects online in 2025, including the Southeast Gateway pipeline project, while maintaining a focus on high-return projects [12][13] - The company expects comparable EBITDA for 2025 to be between C$10.7 billion and C$10.9 billion, with capital expenditures projected between C$6.1 billion and C$6.6 billion [14] Project Highlights - The Southeast Gateway pipeline is ready for service, with all contracted capacity secured and approval of regulated rates expected by the end of May [15][16] - The Northwoods project, an expansion of the ANR system, has been approved and is expected to provide 0.4 Bcf/d of capacity by late 2029 [17] - The Unit 5 Major Component Replacement project, valued at C$1.1 billion, is set to commence in Q4 2026 [18]

Core Viewpoint - TC Energy reported quarterly earnings of $0.66 per share, missing the Zacks Consensus Estimate of $0.70 per share, and down from $0.92 per share a year ago, indicating an earnings surprise of -5.71% [1][2] Financial Performance - The company posted revenues of $2.52 billion for the quarter ended March 2025, missing the Zacks Consensus Estimate by 0.72%, and down from $3.15 billion year-over-year [2] - Over the last four quarters, TC Energy has surpassed consensus EPS estimates three times and topped consensus revenue estimates three times [2] Stock Performance - TC Energy shares have increased by approximately 8.3% since the beginning of the year, contrasting with the S&P 500's decline of -5.3% [3] - The current consensus EPS estimate for the upcoming quarter is $0.58 on revenues of $2.5 billion, and for the current fiscal year, it is $2.63 on revenues of $10.43 billion [7] Industry Outlook - The Zacks Industry Rank for Alternative Energy - Other is currently in the bottom 27% of over 250 Zacks industries, indicating potential challenges for stock performance [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact investor sentiment [5]

Core Viewpoint - TC Energy Corporation is strategically investing in natural gas and nuclear power generation projects, anticipating significant growth in energy consumption through 2035, with a focus on delivering long-term value and low-risk opportunities [1][13]. Financial Highlights - First quarter 2025 comparable earnings were $1.0 billion or $0.95 per common share, a slight decrease from $1.1 billion or $1.02 per common share in the same quarter of 2024 [4][6]. - Comparable EBITDA for the first quarter 2025 was $2.7 billion, consistent with the first quarter of 2024 [4][6]. - The company reaffirmed its 2025 outlook, expecting comparable EBITDA between $10.7 billion and $10.9 billion, with capital expenditures anticipated to be between $6.1 billion and $6.6 billion [4][16]. Project Highlights - TC Energy expects to place approximately $8.5 billion of projects into service in 2025, tracking to be roughly 15% under budget [1][16]. - The Southeast Gateway pipeline, a 1.3 Bcf/d, 715-kilometre natural gas pipeline, is ready for service and was constructed approximately 13% under the original cost estimate [10][12]. - The Northwoods project has been approved, designed to provide 0.4 Bcf/d of capacity for natural gas-fired electric generation in the U.S. Midwest, with an estimated cost of approximately US$0.9 billion and an anticipated in-service date of late 2029 [7][13]. Operational Highlights - Canadian Natural Gas Pipelines deliveries averaged 27.6 Bcf/d, an increase of 8% compared to the first quarter of 2024 [4][6]. - Bruce Power achieved 87% availability in the first quarter of 2025, reflecting a planned outage on Unit 5 [4][15]. - The cogeneration power plant fleet achieved 98.6% availability in the first quarter of 2025, attributed to fewer forced outages [4][15]. Strategic Focus - The company is focused on executing high-value, low-risk projects with attractive build multiples, underpinned by long-term contracts with creditworthy counterparties [1][13]. - TC Energy's origination pipeline remains robust, with several projects in advanced stages of development, particularly related to coal-to-gas conversions and data center demand growth [14][16]. - The company aims to maximize the value of its assets through safety and operational excellence while ensuring financial strength and agility [9][14].

Expand Energy (EXE) came out with quarterly earnings of $2.02 per share, beating the Zacks Consensus Estimate of $1.85 per share. This compares to earnings of $0.56 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 9.19%. A quarter ago, it was expected that this oil and gas company would post earnings of $0.53 per share when it actually produced earnings of $0.55, delivering a surprise of 3.77%.Over the last four quarters, the c ...

Core Viewpoint - The Williams Companies (WMB) has experienced significant stock performance, rising over 61% in the past year, outperforming the S&P 500 and its midstream competitors, leading to discussions among investors about profit-taking or continued investment [1]. Group 1: Company Performance and Growth - Williams is expanding its natural gas infrastructure with eight new interstate transmission projects expected to add 1.25 Bcf per day of capacity by 2025, supporting LNG exports and power generation [2]. - The Transco pipeline set a record in early 2025, moving 522 million decatherms, which is 10% above the previous peak, and the company has achieved 12 consecutive years of EBITDA growth, with 2024 adjusted EBITDA reaching $7.08 billion, exceeding initial guidance [3]. - Recent acquisitions, including full ownership of the Wamsutter upstream JV and Rimrock in the DJ Basin, enhance Williams' asset portfolio while maintaining a disciplined capital strategy [4]. - Williams has a quarterly dividend of 50 cents per share, with a compound annual dividend growth rate exceeding 4% over the last five years, appealing to income-focused investors [5]. - The company has consistently surpassed earnings expectations, reporting 47 cents per share in the fourth quarter, exceeding consensus estimates by 4.4% [6]. Group 2: Challenges and Risks - Williams has a high debt-to-capitalization ratio of 64.1% as of the end of 2024, which increases financial risk and vulnerability to market downturns [9]. - The company faces project delays in key offshore growth projects, particularly the Shenandoah and Whale developments, which may limit near-term growth potential [10]. - The outlook for gathering and processing operations is uncertain due to fluctuating producer activity, with tempered expectations for volume growth [11]. - Williams' stock trades at a 29% premium to its three-year average EV/EBITDA multiple, raising concerns about limited near-term upside [12]. - The growth strategy relies on large-scale infrastructure projects that are subject to regulatory approvals, with execution risks potentially impacting revenue growth timelines [13]. Group 3: Investment Outlook - Despite the challenges, Williams remains an attractive long-term investment due to its robust infrastructure and consistent dividend growth, although its elevated valuation suggests much growth potential is already priced in [15]. - Holding WMB shares could offer rewards given its strong dividend yield and earnings momentum, but waiting for a more attractive valuation before increasing exposure may be prudent [16].

Southeast Gateway makes significant progress toward completion with estimated capital expenditures11 per cent lower to US$3.9 to US$4.1 billionOverall net capital expenditure outlook for 2024 revised eight per cent lower to $7.4 to $7.7 billion reflecting project execution and optimization CALGARY, Alberta, Nov. 07, 2024 (GLOBE NEWSWIRE) -- TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) released its third quarter results today. François Poirier, TC Energy’s President and Chief Executive O ...

The market expects TC Energy (TRP) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on November 7, 2024, might help the stock move higher if these key numbers are ...

CALGARY, Alberta, Oct. 23, 2024 (GLOBE NEWSWIRE) -- News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) today announced that 1,297,203 of its 18,000,000 fixed rate Cumulative Redeemable First Preferred Shares, Series 9 (Series 9 Shares) have been elected for conversion on a one-for-one basis into floating rate Cumulative Redeemable First Preferred Shares, Series 10 (Series 10 Shares) effective on Oct. 30, 2024. As a result, on Oct. 30, 2024, TC Energy will have 16,702,797 Series ...