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    TRP   CA87807B1076

TC ENERGY CORPORATION

(TRP)
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Delayed Toronto Stock Exchange  -  04:19 2022-08-17 pm EDT
64.02 CAD   -1.45%
08/12Natural Gas Edges Down on Moderating Forecasts, Higher Storage
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08/11TC Energy Outperform Rating Reiterated by BMO Capital Markets Following Share Issue; Price Target Cut to C$72.00
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08/11Natural Gas Rises Ahead of New Storage Report
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TC Energy inks deal with Mexican utility to develop $4.5 billion gas pipeline

08/04/2022 | 06:56pm EDT
FILE PHOTO: Illustration shows smartphone with TC Energy's logo displayed

(Reuters) - TC Energy Corp said on Thursday it had struck a deal with a Mexican state utility to develop a $4.5 billion natural gas pipeline.

The offshore Southeast Gateway Pipeline will supply natural gas to Mexico's central and southeast regions, the Canadian pipeline operator added.

The deal with Comisión Federal de Electricidad (CFE) comes as Canada and the United States are having their most serious trade spat with Mexico over the United States-Mexico-Canada Agreement.

TC Energy said sanctioning of the pipeline would expand its secured capital program to $33 billion and could add to its 2021-2026 adjusted EBITDA growth outlook.

Last month, TC Energy had said it would build a $5 billion gas pipeline with CFE in the Mexican state of Veracruz.

(Reporting by Ruhi Soni in Bengaluru)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
S&P GSCI NATURAL GAS INDEX -0.05% 431.8289 Real-time Quote.149.62%
TC ENERGY CORPORATION -1.45% 64.02 Delayed Quote.10.42%
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Analyst Recommendations on TC ENERGY CORPORATION
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Financials
Sales 2022 14 572 M 11 276 M 11 276 M
Net income 2022 3 653 M 2 826 M 2 826 M
Net Debt 2022 55 992 M 43 327 M 43 327 M
P/E ratio 2022 14,8x
Yield 2022 5,61%
Capitalization 64 784 M 50 130 M 50 130 M
EV / Sales 2022 8,29x
EV / Sales 2023 8,02x
Nbr of Employees 7 017
Free-Float 99,8%
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Mean consensus HOLD
Number of Analysts 22
Last Close Price 64,02 CAD
Average target price 69,86 CAD
Spread / Average Target 9,12%
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Managers and Directors
Francois L. Poirier President, Chief Executive Officer & Director
Joel E. Hunter Executive VP, Chief Financial & Risk Officer
Siim Alden Vanaselja Chairman
Leslie C. Kass Executive Vice President-Technical Centre
Mary Pat Salomone Independent Director
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