TC PipeLines, LP Announces 2017 First Quarter Financial Results and Agreement to Acquire Interests in Iroquois and PNGTS
TC PIPELINES LP (TCP)
Last tc pipelines lp earnings: 11/7 07:30 am
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US:NYSE Investor Relations:
tcpipelineslp.com/investor-center.html
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Source: Marketwire
HOUSTON, TEXAS -- (Marketwired) -- 05/04/17 -- TC PipeLines, LP (NYSE:TCP) (the Partnership) today reported first quarter 2017 net income attributable to controlling interests of $75 million and distributable cash flow of $92 million. "The Partnership's assets continued their solid performance during the first quarter of 2017," said Brandon Anderson, President of TC PipeLines, LP, Inc. "Our pipelines reliably served their markets with natural gas to heat homes and provide power during the recent winter period. This was reflected in our stable cash flow and earnings, providing ongoing value to our unitholders." "We have also reached agreements to purchase a 49.3 percent interest in the Iroquois Gas Transmission System, LP from TransCanada together with TransCanada's remaining 11.8 percent interest in PNGTS for a total price of $765 million," added Anderson. "This accretive transaction underscores our ability to assist TransCanada in financing its large capital prog
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