TransCanada profits from nuclear power

Article Excerpt

TRANSCANADA CORP. $43 (Toronto symbol TRP; Conservative Growth Portfolio, Utilities sector; Shares outstanding: 704.1 million; Market cap: $30.3 billion; Price-to-sales ratio: 3.3; Dividend yield: 4.1%; TSINetwork Rating: Above Average; www.transcanada.com) gets 9% of its revenue from its minority stake in the Bruce nuclear power complex in central Ontario. The company and its partners are nearly finished upgrading two of the plant’s eight reactors, which have been out of service since 1995. They plan to restart both by September 30, 2012. The plant will then supply 25% of Ontario’s power. Right now, Bruce’s six operating reactors account for 19% of the province’s power. TransCanada is a buy. buy…