TC Energy shares are trading lower after the company reported worse-than-expected Q2 EPS results. Additionally, the board approved plans to separate into two independent publicly listed company through the spinoff of the Liquids Pipelines business.
Portfolio Pulse from Benzinga Newsdesk
TC Energy reported worse-than-expected Q2 EPS results, causing its shares to trade lower. The company's board also approved plans to separate into two independent publicly listed companies through the spinoff of the Liquids Pipelines business.
July 28, 2023 | 2:57 pm
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NEGATIVE IMPACT
TC Energy's lower than expected Q2 EPS results and the announcement of a spinoff of its Liquids Pipelines business could impact its stock negatively in the short term.
TC Energy's worse-than-expected Q2 EPS results have already led to a decrease in its stock price. The announcement of the spinoff of its Liquids Pipelines business introduces uncertainty, which could further negatively impact the stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100