22:52:34 EDT Thu 02 May 2024
Enter Symbol
or Name
USA
CA



TC Energy Corp
Symbol TRP
Shares Issued 1,037,487,829
Close 2023-11-27 C$ 49.91
Market Cap C$ 51,781,017,545
Recent Sedar Documents

Globe's Pape says TC Energy yields a gushing 7.4%

2023-11-28 09:29 ET - In the News

The Globe and Mail reports in its Tuesday edition that income investors who do not own at least one pipeline stock are missing out on a great source of cash flow. Globe columnist Gordon Pape writes that TC Energy's shares have been drifting down for most of the year, in part because of rising interest rates and in part because of huge cost overruns on the Coastal GasLink project. However, we have seen some recovery recently. TC reported a loss for the third quarter of $197-million (negative 19 cents a share) compared with a profit last year of $841-million (84 cents). The good news is that the mechanical phase of the long-delayed and very expensive Coastal GasLink pipeline was finally completed ahead of its revised year-end schedule. TC's share of the cost was $5.4-billion. It owns a 35-per-cent share of the 670-kilometre pipeline, which it will operate. When it enters service next year, the pipeline will transport gas across British Columbia to a new liquefied natural gas terminal in Kitimat. There it will be liquefied and exported to globally. This will be the first LNG export terminal in Canada. Based on the cost and the difficulties and delays in building it, there may never be another. The stock yields 7.4 per cent.

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