TransCanada Corporation (TRP) - NYSE
  • Yesterday, 7:52 AM
    • TransCanada (NYSE:TRP) declares C$0.565/share quarterly dividend, in line with previous.
    • Forward yield 3.8%
    • Payable Oct. 31; for shareholders of record Sept. 30; ex-div Sept. 28.
    | Yesterday, 7:52 AM
  • Yesterday, 7:37 AM
    • TransCanada (NYSE:TRP): Q2 EPS of $0.52 beats by $0.14.
    • Revenue of $2.75B (+4.6% Y/Y) beats by $730M.
    • Press Release
    | Yesterday, 7:37 AM | 2 Comments
  • Tue, Jul. 26, 10:58 AM
    • Climate change plans from Alberta’s and Canada’s governments are failing to moderate anti-pipeline campaigns, as the Natural Resources Defense Council - which led the assault against Keystone XL - now is firing its guns against TransCanada's (TRP -0.6%) proposed Energy East pipeline.
    • The NRDC is launching a new focus that calls on Pres. Obama to ban tar sands tankers associated with Energy East as a way to secure his environmental legacy; in its campaign against Keystone, the group played up the climate change impacts of oil sands production, and it was on that basis that Obama rejected the project last November.
    • "With climate change policy under its belt, it’s obvious the group needed to conquer and make money off a new dragon," writes Financial Post's Claudia Cattaneo.
    | Tue, Jul. 26, 10:58 AM | 4 Comments
  • Mon, Jul. 25, 1:33 PM
    • At least two groups that include Canadian pension funds are planning to submit bids this week for a minority stake in TransCanada’s (TRP -0.5%) Mexican pipeline business valued at ~$2B, Bloomberg reports.
    • Canada Pension Plan Investment Board, Public Sector Pension Investment Board and Borealis Infrastructure have formed a consortium to make an offer for the stake of as much as 49.9% of the business, according to the report.
    • The Mexican government recently implemented a four-year, 7.7T peso ($411B) plan for infrastructure investments targeting energy, transportation and other projects.
    | Mon, Jul. 25, 1:33 PM
  • Wed, Jul. 20, 2:43 PM
    • TransCanada (TRP -0.7%) gets a Buy rating and C$70 and US$54 price targets at Goldman Sachs, citing TRP's diversified business and backlog of growth projects, as well as the recently completed acquisition of Columbia Pipeline Group that gives the company access to the high-growth Marcellus and Utica basins.
    • TRP also could benefit from supply growth in the Montney in western Canada, “both from increased volumes on its long-haul assets, including the Mainline, and investment opportunities on its NGTL system," Goldman says.
    • TC Pipelines (TCP +0.3%) and Columbia Pipeline (CPPL +0.1%) are assigned Neutral ratings with respective price targets of $53 and $15, as unit likely will remain range-bound amid uncertainty surrounding the strategic review of TRP’s MLPs.
    | Wed, Jul. 20, 2:43 PM | 3 Comments
  • Fri, Jul. 15, 9:15 AM
    • TransCanada (NYSE:TRP) wins the support of four major Canadian labor unions for the company's proposed Energy East pipeline project as a "nation-building" exercise.
    • The alliance, symbolized by an MOU signed yesterday, gives the 4,600-km pipeline from Alberta to New Brunswick a public relations boost after months of public protests and highly publicized rejections.
    • Union and company reps say construction and conversion of the oil line - two-thirds of which already exists as a gas pipeline - will support 14K jobs/year for nearly a decade, although TRP CEO Russ Girling expects the pipeline to be operational by late 2019 or early 2020.
    • Canada's National Energy Board soon will begin a two-year environmental assessment of the $15.7B proposal, and then the national cabinet in Ottawa will decide its fate.
    | Fri, Jul. 15, 9:15 AM | 1 Comment
  • Tue, Jul. 12, 6:52 PM
    • An internal memo to Canada's deputy minister of finance says low oil prices mean there is enough transport capacity in Canada without any new pipelines until at least 2025.
    • The memo, dated last December but obtained this week by the Financial Post, also says TransCanada’s (NYSE:TRP) proposed Energy East pipeline would have only a marginal impact on the price differential for Canadian producers.
    • An Energy East spokesperson tells FP that the proposed $15.7B pipeline from Alberta to New Brunswick already has long-term contracts with oil shippers, demonstrating strong market demand over the coming decades.
    | Tue, Jul. 12, 6:52 PM | 20 Comments
  • Tue, Jul. 12, 9:45 AM
    • Alberta introduced two new oil and gas royalty programs yesterday that the provincial government says will encourage producers to explore new areas, boost production and keep people working.
    • The Emerging Resources Program will apply to wells being drilled in the early stages of development, and allows producers to pay a flat 5% royalty rate, while the Enhanced Hydrocarbon Recovery Program is aimed at boosting production from aging wells.
    • Alberta’s NDP government within only a year has gone from threatening to increase oil and gas royalties to having to provide royalty incentives to stimulate drilling activity, Financial Post's Claudia Cattaneo writes.
    • Among oil and gas companies currently active in Alberta: SU, ECA, CVE, CNQ, ENB, TRP, OTCPK:HUSKF, IMO, XOM, COP, PDS, CEO, RDS.A, RDS.B
    | Tue, Jul. 12, 9:45 AM | 30 Comments
  • Fri, Jul. 1, 4:46 PM
    • TransCanada (NYSE:TRP) says it completed the acquisition of Columbia Pipeline Group (NYSE:CPGX) for ~US$13B, including the assumption of US$2.8B of debt, making it North America’s largest natural gas storage company and one of the largest gas pipeline giants.
    • TRP also says it will review strategic alternatives for its MLP holdings, and expects to communicate its determination regarding the future of TC Pipelines (NYSE:TCP) and Columbia Pipeline Partners (NYSE:CPPL) later this year.
    • TRP says it does not anticipate any dropdowns to the MLPs until the review has been completed.
    | Fri, Jul. 1, 4:46 PM | 3 Comments
  • Thu, Jun. 30, 1:13 PM
    • Canadian oil and gas companies say they are not worried about the new North America-wide energy and climate change strategy announced yesterday by Canadian PM Trudeau, U.S. Pres. Obama and Mexican Pres. Nieto, which includes reducing methane gas emissions from the oil and gas industry by 40%-45%.
    • The Canadian Association of Petroleum Producers says “having our competitors held to a similar standard is going to be good for all of us," since Canadian producers already are under pressure to cut methane emissions and pay carbon levies.
    • TransCanada (NYSE:TRP) says it welcomed the agreement and cited its growing natural gas pipeline business in Mexico and its acquisition of Columbia Pipelines in the U.S. as evidence of the need for an interconnected energy system.
    • The pact would force the three countries to add renewables, nuclear projects or carbon capture and storage projects on coal-fired power plants that would raise the total to 50% from the current 37%.
    • Among other relevant tickers: SU, ECA, ENB, CVE, CNQ, OTCPK:HUSKF, IMO, XOM, COP, PDS, CEO, RDS.A, RDS.B
    | Thu, Jun. 30, 1:13 PM | 33 Comments
  • Tue, Jun. 28, 11:58 AM
    • A Canadian government study yields a surprising result about what happens to oil sands crude in a freshwater spill: it floats, at least for a while, sinking more slowly than conventional oil, unless exposed to high temperatures and weathering.
    • The results may help dispel some concern that a spill of diluted bitumen would be more difficult to clean up, and help companies make the case for pipeline projects such as Kinder Morgan’s (KMI +0.9%) Trans Mountain expansion and Enbridge’s (ENB -0.1%) Northern Gateway pipeline.
    • The study follows a 2015 report by the U.S. National Academy of Science that showed diluted bitumen tended to sink quickly after being spilled in fresh water.
    • Among other relevant tickers: SU, ECA, CVE, CNQ, TRP, OTCPK:HUSKF, IMO, XOM, COP, PDS, CEO, RDS.A, RDS.B
    | Tue, Jun. 28, 11:58 AM | 62 Comments
  • Sun, Jun. 26, 4:57 AM
    • TransCanada (NYSE:TRP) is formally requesting arbitration under NAFTA provisions against President Obama's rejection of the Keystone XL pipeline, seeking $15B for costs and damages.
    • TRP argues it had every reason to believe it would win approval to build the pipeline and claimed the U.S. spent seven years delaying a final decision with multiple rounds of "arbitrary and contrived" analyses and justifications.
    | Sun, Jun. 26, 4:57 AM | 59 Comments
  • Wed, Jun. 22, 10:36 AM
    • Alberta's tougher rules in determining if companies are financially strong enough to buy oil and gas assets could chill M&A activity in the province, energy industry players warn.
    • The Alberta Energy Regulator announced Monday that companies seeking to buy oil and gas properties will need to show their deemed assets exceed their deemed liabilities by 2x or more after the purchase, after deemed assets previously needed only to be equal to deemed liabilities.
    • More than 200 companies that met the prior standard were ruled out as buyers by the stricter financial solvency test, a move that Industry reps say will limit the number of companies allowed to buy oil and gas assets.
    • Among oil and gas companies currently active in Alberta: SU, ECA, CVE, CNQ, ENB, TRP, OTCPK:HUSKF, IMO, XOM, COP, PDS, CEO, RDS.A, RDS.B
    | Wed, Jun. 22, 10:36 AM | 32 Comments
  • Thu, Jun. 16, 7:22 PM
    • Canada’s National Energy Board says it has started its review of TransCanada's (NYSE:TRP) proposed Energy East oil pipeline, widening the number of participants who are able to comment on the project and adding consideration of pollution from oil production.
    • The NEB says hearings will begin in New Brunswick on Aug. 8 followed by other locations along the route of the line, lasting 21 months and wrapping up in March 2018.
    • TRP, which failed to win U.S. approval to build Keystone XL, is working to avoid the same fate for Energy East but the NEB says "this review will be unlike any other in [its] history [as] all Canadians who wish to take part in the decision on this project will be heard."
    • Energy East, estimated by TRP to cost C$15.7B ($12.1B), would transport as much as 1.1M bbl/day of crude.
    | Thu, Jun. 16, 7:22 PM | 12 Comments
  • Tue, Jun. 14, 11:47 AM
    • Spectra Energy (SE -0.2%) said late yesterday that it was awarded a contract to build and operate the $1.5B, 168-mile Nueces-to-Brownsville natural gas pipeline in Texas, which would connect to the Sur de Texas-Tuxpan pipeline in Mexico.
    • Sur de Texas-Tuxpan, which is expected to be in service in late 2018, is the largest of three new Mexican projects announced by TransCanada (TRP -0.1%), and the Texas portion of the project will go through SE’s Valley Crossing Pipeline subsidiary and transport up to 2.6B cf/day of natural gas.
    | Tue, Jun. 14, 11:47 AM | 7 Comments
  • Mon, Jun. 13, 2:58 PM
    • TransCanada (TRP -0.1%) says it won a contract with joint venture partner Sempra Energy (SRE +0.2%) to build and operate the $2.1B Sur de Texas-Tuxpan natural gas pipeline in Mexico.
    • TRP says the project will be supported by a 25-year natural gas transportation service contract for 2.6B cf/day with the Comision Federal de Electricidad, Mexico's state-owned power company.
    • TRP says it expects to invest ~$1.3B in the partnership to build the 497-mile pipeline, with an anticipated in-service date of late 2018; TRP will own 60% of the project, with SRE unit IEnova owning the rest.
    | Mon, Jun. 13, 2:58 PM | 1 Comment
Company Description
TransCanada Corp. provides gas storage and related services. It operates as an energy infrastructure company in North America. The company operates its business through three segments: Natural Gas Pipelines, Liquid Pipelines and Energy. TransCanada was founded on May 15, 2003 and is... More
Sector: Utilities
Industry: Gas Utilities
Country: Canada