May 2, 2018 / 11:47 AM / 5 months ago

BRIEF-TC Pipelines Announces Qtrly Net Income Per Common Diluted Unit $1.32

May 2 (Reuters) - TC PipeLines LP:

* TC PIPELINES, LP ANNOUNCES 2018 FIRST QUARTER FINANCIAL RESULTS AND CASH DISTRIBUTIONS

* TC PIPELINES - FURTHER TO CO'S OUTLOOK, TRANSCANADA CORPORATION, NOTED THEY DO NOT VIEW PARTNERSHIP AS A VIABLE FINANCING ALTERNATIVE AT THIS TIME

* TC PIPELINES LP - GROWTH FROM DROPDOWNS IS NOT ANTICIPATED TO MATERIALIZE UNLESS CIRCUMSTANCES CHANGE

* TC PIPELINES LP - QTRLY NET INCOME PER COMMON DILUTED UNIT $1.32

* TC PIPELINES LP - IF RECENT ACTIONS BY FERC IS IMPLEMENTED AS EXPECTED, WILL RESULT IN A MATERIAL DECREASE IN CASH FLOWS FROM CO'S PIPELINES

* TC PIPELINES LP - DETERMINED THAT A REDUCTION IN OUR DISTRIBUTION AT THIS TIME IS IN BEST INTEREST OF BOTH PARTNERSHIP AND OUR UNITHOLDERS

* TC PIPELINES LP - CONTINUE TO EVALUATE STRATEGIC ALTERNATIVES INCLUDING POSSIBLE REORGANIZATIONS IN REACTION TO RECENT ACTIONS BY FERC

* TC PIPELINES - ABSENT SUBSTANTIAL CHANGES TO FERC ACTIONS, SEES CASH FLOWS FROM PIPELINE SYSTEMS COULD BE DOWN BY UP TO ABOUT $100 MILLION ANNUALIZED

* TC PIPELINES - STRATEGIC OPTIONS INCLUDING PARTNERSHIP'S LEGAL STRUCTURE REORGANIZATION CONSIDERED, TO PARTLY MITIGATE EFFECTS OF 2018 FERC ACTIONS

* TC PIPELINES LP QTRLY TRANSMISSION REVENUES $115 MILLION VERSUS $112 MILLION Source text for Eikon: Further company coverage:

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