TC PipeLines Will Benefit From Long-Term Energy Trends [Seeking Alpha]
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: Seeking Alpha
Summary TC PipeLines (NYSE: TCP ) shares took an incredible dive after the March 15 announcement from the Federal Energy Regulatory Commission, or FERC, revising policies to disallow income tax allowance cost recovery in MLP pipeline rates. Since the ruling specifically covers interstate natural gas (and oil) pipelines, TC PipeLines was one of the most heavily impacted limited partnerships. The share price is down 51.85% over the last 12 months. In its 2018 first quarter financial results announcement , the company indicated that it expected a material decrease in cash flows from its pipelines as a result of the ruling. The company does not expect negotiated or non-recourse rates that are not tied to the cost-of-service rates to be affected by the FERC policy change. This means that about half of TC PipeLines' revenue would be impacted by the ruling. In order to fund near-term capital expenditures and reduce leverage to a level in line with the reduced cash flows, distrib
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