More to TRP than Keystone XL

Article Excerpt

A Montana judge recently forced TransCanada to stop work on the controversial Keystone XL pipeline project. The court ruled the U.S. State Department failed to sufficiently consider Keystone XL’s environmental impact before approving it in September 2018. However, that project is just one of several new pipelines that TransCanada is currently working on. What’s more, the company has secured long-term deals from oil and gas shippers. That lowers the risk for those new projects. TRANSCANADA CORP. $52 (Toronto symbol TRP; Conservative Growth and Income Portfolios, Utilities sector; Shares outstanding: 914.0 million; Market cap: $47.5 billion; Price-to-sales ratio: 3.6; Dividend yield: 5.3%; TSINetwork Rating: Above Average; www.transcanada.com) operates 91,900 kilometres of natural gas pipelines in Canada, the U.S. and Mexico. This system carries 25% of the natural gas needed to satisfy North American demand. In 2017, gas pipelines provided 58% of TransCanada’s revenue. The company also owns or invests in 11 power plants in Alberta, Ontario, Quebec, New Brunswick and Arizona. In all, these facilities have…