Trump aims to jumpstart Keystone

Article Excerpt

TRANSCANADA CORP. $62 (Toronto symbol TRP; Conservative Growth and Income Portfolios, Utilities sector; Shares outstanding: 923.6 million; Market cap: $57.3 billion; Price-to-sales ratio: 4.2; Dividend yield: 4.8%; TSINetwork Rating: Above Average; www.transcanada.com) operates a 91,900-kilometre pipeline network that pumps natural gas from Alberta to eastern Canada and the U.S. Other operations include 4,900 kilometres of crude oil pipelines and 11 power plants. U.S. President Donald Trump has issued a new presidential permit meant to speed up construction of the $8 billion U.S. Keystone XL pipeline, which would pump crude oil from Alberta to the U.S. Gulf Coast. The new permit should help remove legal obstacles to the pipeline in Montana. However, the project still faces legal challenges in Nebraska and South Dakota. If TransCanada can get around those obstacles, the new pipeline could begin operating in 2021. TransCanada is a buy. buy…