TRANSCANADA CORP. $47.90 - Toronto symbol TRP

TRANSCANADA CORP. $47.90 (Toronto symbol TRP; Shares outstanding: 705.1 million; Market cap: $33.5 billion; TSINetwork Rating: Above Average; Dividend yield: 3.8%; www.transcanada.com) reports that its earnings fell 14.7% in 2012, to $1.3 billion, or $1.89 a share, from $1.6 billion, or $2.22 a share, in 2011.

Earnings benefited from the start-up of sections of the Keystone pipeline and contributions from new power projects. However, the company experienced unplanned outages at other power plants, and pumped less gas through its Canadian Mainline pipeline. Revenue rose 2.1%, to $8.0 billion from $7.8 billion.

The company also raised its dividend for the 13th consecutive year. The new annual rate of $1.84 a share, up 4.5% from $1.76, yields 3.8%. TransCanada is a buy.

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