Keystone XL keeps moving ahead

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: 3.5; Dividend yield: 4.1%; TSINetwork Rating: Above Average; www.transcanada.com) is now building its Keystone XL pipeline in sections. In January 2012, the U.S. government rejected the full project, which aims to pump crude oil from Alberta to refineries on the U.S. Gulf Coast. The company will soon start work on the southern section, from Oklahoma to Texas. It has now changed its path for the northern section and reapplied for the necessary permit. TransCanada is a buy. buy…