TRANSCANADA CORP. $51 - Toronto symbol TRP

TRANSCANADA CORP. $51 (Toronto symbol TRP; Conservative Growth and Income Portfolios, Utilities sector; Shares outstanding: 707.6 million; Market cap: $36.1 billion; Price-to-sales ratio: 3.8; Dividend yield: 3.8%; TSINetwork Rating: Above Average; www.transcanada.com) has received new long-term commitments from U.S. natural gas producers for its ANR pipeline system. Trans- Canada has now sold all of this line’s capacity.

This strong demand should prompt Trans- Canada to expand the ANR line over the next few years. That would let it handle rising production at the Utica and Marcellus shale gas fields in New York State and Pennsylvania.

TransCanada is a buy.

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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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