May 23, 2018 - 7:20 AM EDT
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Free Research Report as TransCanada's Earnings Surged 21%

Stock Monitor: Blueknight Energy Partners Post Earnings Reporting

LONDON, UK / ACCESSWIRE / May 23, 2018 / If you want access to our free earnings report on TransCanada Corp. (NYSE: TRP), all you need to do is sign up now by clicking the following link The Company reported its first quarter fiscal 2018 operating and financial results on April 27, 2018. The Canadian pipeline operator outperformed top- and bottom-line expectations. Register today and get access to over 1,000 Free Research Reports by joining our site below: is currently working on the research report for Blueknight Energy Partners, L.P. (NASDAQ: BKEP), which also belongs to the Basic Materials sector as the Company TransCanada. Do not miss out and become a member today for free to access this upcoming report at: is focused on giving you timely information and the inside line on companies that matter to you. This morning, TransCanada most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

Earnings Highlights and Summary

For the quarter ended March 31, 2018, TransCanada recorded revenues of C$3.42 billion compared to C$3.41 billion in Q1 2017. The Company's revenue numbers topped analysts' estimates by C$660 million.

TransCanada reported a net income attributable to common shareholders of C$734 million, or C$0.83 per share, in Q1 2018 compared to C$643 million, or C$0.74 per share, in Q1 2017.

TransCanada's comparable earnings were C$870 million, or C$0.98 per share, in Q1 2018 compared to C$698 million, or C$0.81 per share, in Q1 2017. The increase in earnings for the reported quarter were primarily due to the net effect of a higher contribution from Liquids Pipelines; higher volumes on the Keystone Pipeline System; increased earnings from liquids marketing activities; higher contribution from US Natural Gas Pipelines; additional contract sales on ANR and Great Lakes; amortization of net regulatory liabilities; lower income tax expenses; and a higher contribution from Mexico Natural Gas Pipelines. The Company's earnings surpassed Wall Street's estimates of CS0.86 per share.

Operating Results

Canadian Natural Gas Pipelines

TransCanada completed the NGTL 2017 Expansion Program with approximately C$160 million of facilities placed in service since December 31, 2017, including the Northwest Mainline Loop-Boundary Lake pipeline on April 02, 2018. The 2017 Expansion Program added approximately 230 km (143 miles) of new pipeline, along with additional compression facilities, and increased the NGTL System capacity by approximately 535 terajoule per day (TJ)/d (500 million cubic feet/day (MMcf/d)).

On February 15, 2018, TransCanada announced the successful completion of an open season for 260 TJ/d (242 MMcf/d) of existing and 1.1 Petajoule /day (PJ/d) (1.0 billion cubic feet/day (Bcf/d)) of expansion export capacity at the Empress / McNeill Export Delivery Point, with the expansion service expected to commence in November 2020. The average awarded contract term for the expansion capacity was approximately 29 years.

On March 20, 2018, TransCanada announced the successful completion of an open season for additional expansion capacity at the Empress / McNeill Export Delivery Point for service expected to commence in November 2021. The offering of 300 TJ/d (280 MMcf/d) was oversubscribed with an average awarded contract term of approximately 22 years.

US Natural Gas Pipelines

TransCanada placed Leach XPress in service on January 01, 2018. This Columbia Gas project transports approximately 1.6 PJ/d (1.5 Bcf/d) of Marcellus and Utica gas supply to delivery points along the system.

The Company placed Cameron Access in service on March 13, 2018. This Columbia Gulf project is designed to transport approximately 0.9 PJ/d (0.8 Bcf/d) of gas supply to the Cameron LNG export terminal in Louisiana.


On March 01, 2018, as part of the continued wind down of TransCanada's US power marketing operations, the Company closed the sale of its US power retail contracts for proceeds of approximately US$23 million and recognized income of US$10 million.

Equity Issuance Program

During Q1 2018, TransCanada issued 5.8 million common shares through the corporate at-the-market (ATM) program, at an average price of C$56.51 per common share, for gross proceeds of C$329 million. An additional 1.6 million common shares were issued in April 2018, bringing year-to-date gross proceeds to C$415 million, at an average price of C$55.64 per common share.

Cash Matters

During Q1 2018, TransCanada's net cash provided by operations was C$1.4 billion. The Company's comparable funds generated from operations totaled C$1.6 billion, and comparable distributable cash flow was C$1.4 billion, or C$1.64 per share, reflecting only non-recoverable maintenance capital expenditure.

Stock Performance Snapshot

May 22, 2018 - At Tuesday's closing bell, TransCanada's stock marginally fell 0.62%, ending the trading session at $42.97.

Volume traded for the day: 993.49 thousand shares.

After yesterday's close, TransCanada's market cap was at $37.71 billion.

Price to Earnings (P/E) ratio was at 21.14.

The stock has a dividend yield of 4.98%.

The stock is part of the Basic Materials sector, categorized under the Oil & Gas Pipelines industry.


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Source: ACCESSWIRE Investor Awareness (May 23, 2018 - 7:20 AM EDT)

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