Shares of TC Pipelines Crater on Distribution Cut [The Motley Fool]
TC PIPELINES LP (TCP)
Last tc pipelines lp earnings: 11/7 07:30 am
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tcpipelineslp.com/investor-center.html
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Source: The Motley Fool
If the ruling from FERC wasn't enough of a blow to the company earlier this year, the decision to slash its payout 35% certainly is. Tyler Crowe ( TMFDirtyBird ) May 2, 2018 at 12:56PM What happened Shares of pipeline operator TC Pipelines LP ( NYSE:TCP ) are down 21.7% as of 11:15 a.m. EDT today after the company announced its first-quarter earnings. It wasn't the earnings report that spooked investors, but rather management's decision to cut its payout after a recent regulatory change. So what In March, the U.S. Federal Energy Regulatory Commission (FERC) issued a ruling on how interstate pipeline companies operating as master limited partnerships like TC Pipelines can structure their contracts. Companies that use what are known as cost-of-service contracts can no longer add federal tax recovery allowance clauses to those contracts because
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