TRANSCANADA CORP. $44 - Toronto symbol TRP

TRANSCANADA CORP. $44 (Toronto symbol TRP; Conservative Growth Portfolio, Utilities sector; Shares outstanding: 707.1 million; Market cap: $31.1 billion; Price-to-sales ratio: 3.5; Dividend yield: 4.2%; TSINetwork Rating: Above Average; www.transcanada.com) expects to complete the southern portion of its Keystone XL pipeline by the end of 2013. This $2.3-billion U.S. project will pump crude oil from terminals in Cushing, Oklahoma, to refineries on the U.S. Gulf Coast. Demand for this pipeline from oil shippers is strong, because rising shale oil production in North Dakota has increased inventories at Cushing and hurt crude prices.

The company still hopes to win approval for Keystone XL’s northern portion, which would pump oil from Alberta to the Gulf Coast. The U.S. government will probably announce its decision in 2014.

TransCanada is a buy.

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Blue chip stocks are big, well-established, dividend-paying corporations with strong business prospects. These are companies that also have sound management that should be able to make the right moves to keep competing successfully in a changing marketplace.

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Value Stocks

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One of the sweetest and most profitable pleasures of successful investing is to buy high-quality “value stocks” (or stocks that are reasonably priced, if not cheap, in relation to its sales, earnings or assets), then hold on to them as mainstream investors recognize the value and push up the share price.

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