$TRP

TC Energy chose Worley, EllisDon, and AECOM to advance the Ontario Pumped Storage Project. The team will handle engineering, cost estimating, and planning. The project aims to boost grid reliability and Ontario's electricity needs, with a focus on local hiring and suppliers.

Canada's top TSX exporters, including Royal Bank, Enbridge, Suncor, and Teck Resources, face new 50% U.S. tariffs on C$20B of goods. Canada plans retaliation. Banks, energy, and materials sectors are most exposed, with companies reporting significant U.S. revenue and market volatility. Some banks rallied despite tariffs, while oil prices fell.

TC Energy appointed Worley to advance a 11GWh pumped hydro energy storage project in Ontario, estimated to cost US$3.25 billion. The project, announced in 2019, awaits final provincial approval. Ontario's energy minister requested further analysis of broader benefits. The Canada Energy Regulator notes only one active PHES project in the country.

T. Rowe Price will acquire F/m Investments, more than doubling its fixed-income ETF assets. The deal follows Goldman Sachs' recent ETF manager acquisition, signaling industry consolidation. T. Rowe Price manages $1.87 trillion in assets, while F/m oversees $19 billion, with $10 billion in ETFs. Terms were not disclosed.

U.S. President Donald Trump claimed the Keystone XL pipeline project is being revived during trade talks with Canada. The project, previously canceled by President Joe Biden, aims to transport Canadian oil. TC Energy, now South Bow, was involved in the project and has faced legal and environmental challenges. Trump signed an order in 2026 to revive parts of the pipeline, with South Bow partnering with Bridger Pipeline on a new proposal.

Canada is advancing six pipeline projects, adding 2.25M bpd of export capacity by 2035. Enbridge (ENB), Pembina (PPL), and TC Energy (TRP) are highlighted for their stable income and growth prospects. ENB has a 5.5% yield, PPL a 4.4% yield, and TRP a 3.96% yield, with TRP targeting $12.6B-$13.1B EBITDA by 2028.

South Bow, the Canadian pipeline operator created by TC Energy in 2024, said a North American policy shift could improve prospects for reviving parts of the Keystone XL system. CEO Bevin Wirzba cited U.S. and Canadian moves to speed energy permitting and energy security needs. The plan targets up to 55,000 bpd to the U.S. Gulf Coast, with U.S. partners building the U.S. segment.

TC Energy Corp. says a former manager, Rick Urbanczyk, and companies he controlled agreed to a consent judgment requiring payment of over $3 million in damages. The order includes turning over property valued at $3,040,371.87 plus $100,000 costs, with constructive trusts over a Calgary home and other assets, after a lawsuit alleging misappropriation of rebates and diversion of at least $2,566,200.

Industry analysts say a proposed 550,000 bpd U.S. oil pipeline from the Canada border near Phillips County, Montana could use idle pipe from the cancelled Keystone XL project. Regulatory filings cite Bridger Pipeline LLC. South Bow, which owns Keystone assets, said it is evaluating an expansion. A presidential permit is still required.

TC Energy (TRP) held its Q2 2026 earnings call. Comparable EBITDA rose to $2.9 billion (+12% y/y) and comparable EPS to $0.94. Management guided 2026 EBITDA to the upper end of $11.6B to $11.8B and set a $0.8775 quarterly dividend. It cited higher natural gas demand and Bruce Power refurbishment progress.