Keystone inches closer to construction

Article Excerpt

TRANSCANADA CORP. $43 (Toronto symbol TRP; Conservative Growth Portfolio, Utilities sector; Shares outstanding: 704.0 million; Market cap: $30.3 billion; Price-to-sales ratio: 3.3; Dividend yield: 4.1%; TSINetwork Rating: Above Average; www.transcanada.com) has settled on a new route for its proposed Keystone XL pipeline that would avoid environmentally sensitive areas in Nebraska. When the pipeline is finished, it will pump crude oil from Alberta’s oil sands to refineries on the U.S. Gulf Coast. The U.S. government initially refused to approve the project, but TransCanada feels this new route will help it win the necessary permits. The company aims to begin building the pipeline in early 2013. It could begin operating by the end of 2014. TransCanada is a buy. buy…