Updating TransCanada Corp., Power Corp. and Telus

Article Excerpt

TRANSCANADA CORP. $56.04 (Toronto symbol TRP; Shares outstanding: 708.9 million; Market cap: $40.4 billion; TSINetwork Rating: Above Average; Dividend yield: 3.7%; www.transcanada.com) has announced a new deal with Magellan Midstream Partners (New York symbol MMP). The two firms have formed a 50/50 partnership to build a pipeline connecting their oil-storage facilities in Houston, Texas. This will give TransCanada’s oil-shipping clients access to more refineries in the Houston area. The company’s share of the $50-million cost is $25 million. To put that in context, TransCanada earned $511 million, or $0.72 a share, in the three months ended December 31, 2014. The partners expect to complete this project in mid-2016. TransCanada is a buy. POWER CORP. $33.51 (Toronto symbol POW; Shares outstanding: 413.5 million; Market cap: $15.5 billion; TSINetwork Rating: Above Average; Div. yield: 3.4%; www.powercorporation.com) holds its financial assets through 65.7%-owned Power Financial. These holdings include 58.7% of IGM Financial, a leading Canadian mutual fund provider. As of March 31, 2015,…