TransCanada Corp., the Calgary-based company seeking to build the Keystone XL oil-sands pipeline, said third-quarter profit rose 30% as it took advantage of higher electricity prices.
Net income increased to $481-million (US$461-million), or 68 cents a share, from $369-million, or 52 cents, a year earlier, the company said in a statement on Marketwired today. Excluding one-time items, per-share profit exceeded the 59-cent average of 11 analysts’ estimates compiled by Bloomberg.
TransCanada Corp., which divides its business between pipelines and power plants, reported higher second-quarter profit as electricity prices in Alberta rose and the company transported more fuel.
Net income increased to $429 million, or 60 cents a share, from $416 million, or 59 cents a share, in the same period last year, the Calgary-based energy company said Friday in a statement. Excluding one-time items, per-share earnings were 4 cents more than the 52-cents average of 11 analysts’ estimates compiled by Bloomberg.
CALGARY — TransCanada Corp. says it had a $458-million profit in the fourth quarter, a 9% increase from last year, and its quarterly dividend will be going up 8% to 52 cents per common share.
The Calgary-based company — which has been pushing to get U.S. approval of the Keystone XL pipeline from Alberta to Texas — is now estimating the project’s total cost will be US$8 billion, including US$2.4 billion that had been spent as of the end of 2014.
TransCanada Corporation (NYSE:TRP) has come under pressure from activist investor Sandell Asset Management Corporation (SAMC) to sell off its power generation business and sell all its US-based assets to the Master Limited Partnership (MLP) that it has a stake in, TC Pipelines LP. The move according to Sandell will help boost TransCanada’s stocks value and assure higher return for its shareholders.
TransCanada Corp, the country’s No. 2 pipeline company and the backer of the controversial Keystone XL pipeline, said on Thursday its second-quarter profit rose 14 percent on gains from the sale of a unit.
The company said net income totaled $416-million, or 52 cents per share, in the quarter, which was up from $365-million, or 52 cents, in the same quarter of 2013.
The rise came as the company recorded a $99-million gain on the sale of its carbon black business. That was partially offset by a $31-million charge for changes to a natural gas storage contract.
“I don’t see how it’s going to benefit consumers. I just don’t see it.”
CALGARY — The Conservatives in Ottawa are staunch supporters, the New Democrats have called it a “win-win-win” and the premiers of Alberta and New Brunswick have loudly touted the benefits of an oil pipeline from west to east.
TransCanada Corp., the nation’s largest natural-gas pipeline operator, said second-quarter net income fell 3.1% as a drop in gas prices reduced the value of inventory and contracts used to lock in prices.
“I’m very optimistic we will get the contractual support we will need and what I would hope is the pipeline goes all the way to Saint Joh.” – Russ Girling
Crude from Alberta’s oil sands sells at a 30% discount to its U.S. counterpart. TransCanada Corp. Chief Executive Officer Russ Girling plans to narrow that gap whether or not his Keystone XL pipeline to the Gulf of Mexico wins approval from the Obama administration.
Natural-gas pipeline operator TransCanada Corp. announced Wednesday third-quarter profit of $345-million, or 50 cents a share, compared with $335-million, or 49 cents a share, in the third quarter of 2008.
A sharp fall in European and Asian gas prices this year will put liquefied natural gas (LNG) export projects worldwide under heavy cost pressure, and even kill some off, as expected returns on investments have to be revised down along with prices.
Benchmark British gas prices for delivery next month have almost halved this year as healthy supplies have been met by low demand following a mild winter and because overall gas use is dropping due to improving energy efficiency, rising competing fuels like renewables and low population growth.