TRP bucks the solar trend

Article Excerpt

TRANSCANADA CORP. $61.75 (Toronto symbol TRP; Shares outstanding: 800.3 million; Market cap: $53.3 billion; TSINetwork Rating: Above Average; Dividend yield: 4.1%; www. transcanada.com) has agreed to sell its eight solar power facilities in Ontario to Axium Infrastructure Canada II Limited Partnership. Trans- Canada will receive $540 million when it completes the sale later this year. The deal comes at a time when many other pipeline companies aim to diversify into renewable energy projects. However, TransCanada feels that its resources are better spent funding its $24 billion worth of near-term projects now underway. The majority of these are oil and gas pipelines in Canada, the U.S. and Mexico. They should all be in place by the end of 2019. TransCanada Corp. is a buy. buy…

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