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CALGARY, Alberta, May 15, 2024 (GLOBE NEWSWIRE) -- News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) strongly disagrees with the final decision issued today by the Delaware Chancery Court (the “Court”) allocating liability for earlier determined damages in an ongoing class action lawsuit related to TC Energy's 2016 acquisition of Columbia Pipeline Group Inc. ("Columbia"). The Court previously held, in a decision issued in June 2023, that the former CEO and CFO of Columbia breached their fiduciary duties to Columbia stockholders and that TC Energy aided and abetted those breaches. TC Energy believes the Court made material errors of fact and law in its decisions and will appeal the determinations to the Delaware Supreme Court.
The Canada Energy Regulator (CER) on Tuesday said it had issued an order to TC Energy's NOVA Gas Transmission Ltd (NGTL) to further reduce the operating pressure for the Grande Prairie Mainline gas pipeline near Edson, Alberta.
Why 7.5%-Yielding TC Energy Is A Compelling Investment For Value Investors?
TC Energy (TRP) expects capital expenditures and comparable EBITDA to be in the band of C$8.0-C$8.5 billion and C$11.2-C$11.5 billion, respectively, for 2024.
TC Energy (TRP) came out with quarterly earnings of $0.92 per share, beating the Zacks Consensus Estimate of $0.83 per share. This compares to earnings of $0.89 per share a year ago.
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TC Energy on Wednesday said it does not anticipate any service interruptions as it continues to respond to the rupture of its NGTL gas pipeline in Alberta, Canada, which caused a wildfire on Tuesday.
TC Energy's (TRP) NGTL natural gas pipeline system experiences an explosion near Edson, Alberta. The incident triggers emergency response and regulatory oversight.