CALGARY, Alberta, April 10, 2025 (GLOBE NEWSWIRE) -- News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) will release its first quarter 2025 financial results on Thursday, May 1 at 6:30 a.m. MDT / 8:30 a.m. EDT and hold its 2025 annual meeting of common shareholders on Thursday, May 8, at 10 a.m. MDT / 12 p.m. EDT. First quarter 2025 financial resultsFrançois Poirier, TC Energy President and Chief Executive Officer, Sean O’Donnell, Executive Vice-President and Chief Financial Of ...

Group 1: Incident Overview - TC Energy Corporation (TRP) detected a leak in the ANR pipeline system, leading to a shutdown of the pipeline on Wednesday near Fennville, MI [1] - The leak was caused by a third party, prompting TC Energy to shut down the affected section for safety reasons, resulting in a natural gas outage affecting approximately 5,200 homes in the region [2] - Repairs and maintenance on the damaged pipeline may cause the gas outage in Fennville to last for several days [2] Group 2: Pipeline System Details - TRP's ANR pipeline system transports over 10 billion cubic feet of natural gas per day and connects to major gas-producing basins in North America [3] - The pipeline spans approximately 9,300 miles, delivering natural gas to midwestern states in the United States [3] Group 3: Company Rankings and Comparisons - TRP currently holds a Zacks Rank 3 (Hold), indicating a neutral outlook [4] - Other better-ranked stocks in the energy sector include Archrock Inc. (AROC) with a Zacks Rank 1 (Strong Buy), and Nine Energy Service (NINE) and Kinder Morgan, Inc. (KMI) both with a Zacks Rank 2 (Buy) [4] Group 4: Competitor Insights - Archrock focuses on midstream natural gas compression and is expected to see sustained demand for its services due to the growing importance of natural gas in the energy transition [5] - Nine Energy Service provides onshore completion and production services across key basins in the U.S. and Canada, with anticipated growth due to sustained demand for oil and gas [6] - Kinder Morgan operates a stable business model driven by take-or-pay contracts, providing predictable earnings and reliable capital returns to shareholders [7]

Core Viewpoint - TC Energy Corporation emphasizes the opportunity for Canada to enhance its economic sovereignty and become a global leader in liquefied natural gas (LNG) exports, particularly targeting Asian markets [1][2][3] Group 1: Event Details - François Poirier, President and CEO of TC Energy, will deliver a keynote address at the Canadian Club Toronto on April 10, 2025, focusing on Canada's potential to become a top LNG exporter [1][3] - The event is themed "Canada's Will to Win – Seizing a Generational Opportunity," highlighting the need to mobilize Canada's resource wealth for economic independence [2] Group 2: Company Overview - TC Energy operates with a team of over 6,500 professionals, managing a unique network of natural gas infrastructure assets that facilitate energy movement, generation, and storage [4] - The company is involved in LNG exports, connecting North America to global energy markets, and has strategic investments in power generation [4] Group 3: Market Position - TC Energy asserts that Canada has the potential to become the number one LNG exporter to Asia, beyond the current West Coast projects [2][3]

Core Viewpoint - An open letter from 14 CEOs of major pipeline and oil and natural gas companies emphasizes the urgent need for Canada to enhance its energy infrastructure and regulatory framework to strengthen economic sovereignty and respond to global energy security challenges [1][7]. Group 1: Industry Needs and Opportunities - Canadians recognize the necessity to expand the energy sector and build infrastructure, including new oil and natural gas pipelines and LNG export terminals [3]. - Canada possesses vast reserves of oil and natural gas, projected to remain significant energy sources for decades, allowing the country to meet domestic needs and export globally [4]. - The country can lead in global energy security by providing affordable, lower-emission energy produced democratically and responsibly [4]. Group 2: Regulatory and Policy Recommendations - The letter outlines five key actions for federal political leaders to facilitate the expansion of the oil and natural gas sector and energy infrastructure [6]. - Regulatory frameworks, such as the Impact Assessment Act and West Coast tanker ban, need to be simplified to promote development [8]. - The federal government should commit to firm deadlines for project approvals, aiming for major projects to be approved within six months of application [8]. Group 3: Investment and Collaboration - The federal government's unlegislated cap on emissions should be eliminated to allow the sector to reach its full production potential [8]. - The carbon levy on large emitters is deemed not globally competitive and should be repealed to enable provinces to establish more suitable carbon regulations [8]. - Indigenous co-investment opportunities should be incentivized through federal loan guarantees to enhance community prosperity and ensure benefits from development [8].

Core Insights - TC Energy Corporation is shifting its focus towards the U.S. market due to expected growth in natural gas demand of 40 billion cubic feet per day over the next decade [1][3] - The U.S. market is seen as more stable and favorable for energy infrastructure development compared to Canada, which has a more complex regulatory environment [2][3][9] U.S. Market Focus - The company plans to expand its pipeline network in the U.S. to meet the anticipated increase in natural gas consumption [3][7] - CEO François Poirier expresses confidence in the long-term potential of the U.S. market despite ongoing trade tensions with Canada [4][9] Challenges in Canada - While Canada remains important, TC Energy faces regulatory hurdles that can delay projects, such as the Coastal GasLink pipeline expansion [5][6] - The company is hopeful for improvements in Canada's regulatory system to create future investment opportunities [6] Strategic Positioning - TC Energy's strategy is centered on capitalizing on the growing energy needs in North America, particularly in the U.S. [8][9] - The company aims to establish itself as a leader in the natural gas sector by expanding its infrastructure in response to increasing demand [8][9] Industry Comparisons - Other companies in the energy sector, such as Cheniere Energy, Targa Resources, and Kinder Morgan, are also focusing on expanding their infrastructure to meet rising natural gas demand in the U.S. [10][11][12] - Cheniere Energy is expanding its LNG plant in Texas, while Targa Resources and Kinder Morgan are enhancing their midstream capabilities to support increased production and transport of natural gas [10][11][12]

Group 1 - The article discusses a long-term rotation from growth stocks to value stocks, suggesting a shift in investment strategy [1] - The author emphasizes the importance of diversifying investments into various income alternatives such as REITs, mREITs, Preferreds, BDCs, MLPs, and ETFs [1] Group 2 - The article includes testimonials indicating a high level of satisfaction with the research provided, with 438 testimonials and most rated 5 stars [1]

Core Insights - The Conservative Income Portfolio aims to target value stocks with high margins of safety while reducing volatility through well-priced options [1] - The Enhanced Equity Income Solutions Portfolio is designed to generate yields of 7-9% while minimizing volatility [1] - TC Energy Corporation (TSX: TRP:CA) was previously assessed for its valuation, leading to the execution of defensive covered calls [1] Investment Strategies - The Covered Calls Portfolio focuses on lower volatility income investing with an emphasis on capital preservation [2] - The fixed income portfolio aims to acquire securities that offer high income potential and are significantly undervalued compared to peers [2] - Trapping Value operates with a combined experience of over 40 years in generating options income while prioritizing capital preservation [3] Company Position - The investment group Conservative Income Portfolio collaborates with Preferred Stock Trader to manage two income-generating portfolios and a bond ladder [3]

Core Insights - TC Energy Corporation (TRP) reported fourth-quarter 2024 adjusted earnings of 75 cents per share, exceeding the Zacks Consensus Estimate of 68 cents, driven by strong performance in Mexico Natural Gas Pipelines and Power and Energy Solutions segments [1] - However, the earnings decreased from 99 cents in the same quarter last year, attributed to weak results in Canadian and U.S. Natural Gas Pipelines segments [2] Financial Performance - Quarterly revenues reached $2.6 billion, surpassing the Zacks Consensus Estimate by $130 million, but decreased by 17.8% year over year [3] - Comparable EBITDA was C$2.6 billion, slightly down from C$2.7 billion in the previous year [3] Dividend Declaration - The board declared a quarterly dividend of 85 Canadian cents per common share for the quarter ending March 31, 2025, representing a 3.3% increase from the previous quarter, bringing the annualized dividend to C$3.40 per share [4] Segment Performance - Canadian Natural Gas Pipelines reported a comparable EBITDA of C$851 million, down 17.7% year over year, primarily due to lower earnings from Coastal GasLink [6] - U.S. Natural Gas Pipelines reported a comparable EBITDA of C$1 billion, a 2% decrease from the prior year, impacted by the sale of PNGTS and lower realized earnings [8] - Mexico Natural Gas Pipelines reported a comparable EBITDA of C$234 million, up 12.5% year over year, driven by higher equity earnings from Sur de Texas [9] - Power and Energy Solutions registered a comparable EBITDA of C$341 million, up 28.2% year over year, attributed to increased contributions from Bruce Power [11] Operational Highlights - Bruce Power achieved 99% availability in the fourth quarter, with the cogeneration power plant fleet reaching 98% availability [5] - Canadian Natural Gas Pipelines deliveries averaged 25.6 billion cubic feet per day (Bcf/d), a 7% increase year over year, with NGTL System deliveries setting a new record of 17.7 Bcf/d [7] Capital Expenditures and Balance Sheet - As of December 31, 2024, capital investments amounted to C$2.3 billion, with cash and cash equivalents of C$2.6 billion and long-term debt of C$45 billion, resulting in a debt-to-capitalization ratio of 60% [12] 2025 Guidance - The company expects comparable EBITDA for 2025 to range from C$10.7 billion to C$10.9 billion, driven by new projects and full-year contributions from projects placed in service in 2024 [13] - Anticipated CapEx for 2025 is between C$6.1 billion and C$6.6 billion on a gross basis [16] Key Developments - The spinoff of the Liquids Pipelines business was completed on October 1, 2024 [17] - The Southeast Gateway pipeline project achieved mechanical completion on January 20, 2025, with an in-service date targeted for May 1, 2025 [17] - The Coastal GasLink pipeline was declared commercial in-service in November 2024 [18]

Core Viewpoint - Investors in the Alternative Energy sector should consider Clearway Energy (CWENA) and TC Energy (TRP) for potential value opportunities [1] Group 1: Company Rankings and Earnings Outlook - Clearway Energy has a Zacks Rank of 2 (Buy), indicating a positive earnings outlook, while TC Energy has a Zacks Rank of 3 (Hold) [3] - The Zacks Rank system emphasizes companies with positive earnings estimate revisions, suggesting CWENA is likely experiencing a more favorable earnings outlook [3] Group 2: Valuation Metrics - CWENA has a forward P/E ratio of 16.86, compared to TRP's forward P/E of 17.96 [5] - CWENA's PEG ratio is 0.42, indicating a better valuation relative to its expected earnings growth, while TRP's PEG ratio is significantly higher at 4.49 [5] - CWENA's P/B ratio is 0.89, which is lower than TRP's P/B of 1.70, suggesting CWENA is undervalued compared to its book value [6] Group 3: Overall Value Assessment - Based on the valuation metrics, CWENA holds a Value grade of A, while TRP has a Value grade of C, indicating that CWENA is the superior value option at this time [6][7]

Financial Data and Key Metrics Changes - TC Energy reported a 6% increase in comparable EBITDA from continuing operations in 2024 compared to 2023, reaching over $10 billion [8][30] - The company successfully reduced net capital expenditures by 10% and identified an additional $1.3 billion in capital reductions to be realized in 2026 and 2027 [9] - Comparable earnings for the fourth quarter of 2024 were $1.1 billion, which was 8% lower than the fourth quarter of 2023 [27] Business Line Data and Key Metrics Changes - The Power and Energy Solutions business unit saw a 28% increase in quarterly EBITDA growth, driven by Bruce Power's 99% availability [25] - Canada Gas experienced a significant variance due to a $200 million incentive payment to Coastal GasLink in the fourth quarter of 2023 that was not repeated in 2024 [26] - The Mexico business posted gains primarily due to the weakening of the peso, as revenues are paid in US dollars [27] Market Data and Key Metrics Changes - The Ontario IESO projects a 69,000 megawatt shortfall in total installed capacity by 2050, driven by industrial expansion and population growth [16] - The company anticipates a threefold increase in LNG exports and strong growth in power generation due to coal retirements and data center demand [13] Company Strategy and Development Direction - TC Energy aims to maximize the value of its assets through safety and operational excellence, executing selective growth projects, and ensuring financial strength [40] - The company is focusing on filling its backlog of development projects, with a target of approximately $8 billion in capital between 2026 and 2030 [18] - The partnership with CFE on Southeast Gateway is seen as a critical component of achieving the goals outlined in Mexico's Plan 2030 [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the alignment with the Mexican government's priorities and the role of natural gas deliveries [12] - The company remains focused on maintaining a debt to EBITDA ratio of 4.75 times while pursuing organic deleveraging efforts [36] - Management highlighted the importance of executing on time and on budget to improve credit ratings and maintain investor confidence [78] Other Important Information - The Board of Directors declared a first quarter 2025 dividend of $0.85 per common share, marking the 25th consecutive year of dividend growth [37] - Recent leadership changes were announced, with Tina Faraca appointed as Executive Vice President and Chief Operating Officer of Natural Gas Pipelines, and Greg Grant as Executive Vice President of Power and Energy Solutions [42][44] Q&A Session Summary Question: Update on Southeast Gateway in-service date and commercial contracts - Management confirmed the May 1 in-service date is consistent with previous guidance and discussed the status of relevant plants and potential gas supply [49][50] Question: Interest in developing integrated gas to power projects - Management indicated openness to bundled solutions but emphasized a focus on low-risk, complementary projects rather than growing an independent power generation company [56][58] Question: Next steps for Bruce C nuclear project - Management stated that while early in development, they are bullish on nuclear's role in meeting Ontario's energy demand and will not bear significant cost and schedule risk [70][72] Question: Update on leverage and balance sheet outlook - Management highlighted the importance of executing on the capital plan and maintaining a focus on organic deleveraging to improve credit ratings [78][79] Question: Update on Canadian mainline capacity and capital allocation - Management noted that spare capacity has changed due to strong demand and reiterated commitment to the $6 billion to $7 billion capital target [86][89] Question: Update on Columbia rate case - Management confirmed that rates for the Columbia gas system will go into effect in April 2025 [137]