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New! TC Energy Corp. Q3-2020 Earnings - Price Target Update .....
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TC Energy Corp. Q2-2020 Earnings - Price Target Update

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TC Energy Corp. (TRP-TSX, TRP-NYSE) (formerly TransCanada Corp) is a North American energy infrastructure company with $101.7B in assets as at Jun-30-2020, up from $99.2B at Dec-31-2019. The increase is mainly from capital development program of which $3B was placed into service during the 1H-2020. The secured capital program has been reduced from $43B to $37B. An additional $11B of projects is under development and still subject to receipt of final approvals. The corporate name has been changed from TransCanada Corp. to TC Energy Corp. to better reflect their geographic presence in Canada, the US and Mexico. They operate in 5 segments: Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines and Energy. Canadian natural gas pipelines contribute 24% of revenues, US natural gas pipelines-40%, Mexico natural gas pipelines- 10%, Oil pipelines-18% and Power Generation at 8%. They operate in seven Canadian provinces, 38 U.S. states and Mexico. During the next four years the major projects are the expansion of the NGTL system that gathers natural gas in the Western Canadian Sedimentary Basis for delivery on their mainline system and for planned connection to the Coastal Gas Link that runs to Kitimat. The budget for NGTL and Coastal Gas Link projects is $14.5B. Expansion of the US natural gas pipelines is budgeted at $11B. The longer term portion of the capital budget is mainly for Keystone XL and Bruce Power Nuclear facility upgrade. Keystone XL and the Coastal Gas Link are in the final stages of regulatory approval

TC Energy Corp. and Natural Law Energy have signed a Memorandum of Understanding for NLE to pursue an equity interest in the Keystone XL Project and other potential related midstream and power projects. Natural Law Energy is comprised of five First Nations groups in Western Canada, headquartered in Bragg Creek, Alberta.

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