Big growth ahead for TRP

Article Excerpt

TRANSCANADA CORP. $33.20 (Toronto symbol TRP; Shares outstanding: 620.5 million; Market cap: $20.6 billion; SI Rating: Above Average) plans to spend $19 billion on new growth projects over the next four years. These include expanding its existing pipeline network and building new pipelines, natural gas storage facilities and power plants. The largest of TransCanada’s projects is its $12-billion U.S. Keystone pipeline, which will pump crude oil from Alberta’s oil sands to refineries in the U.S. Midwest and Gulf Coast. TransCanada owns 50% of Keystone, but has agreed to increase its ownership to 79.99%. ConocoPhillips (New York symbol COP) owns the remaining stake. Keystone’s first phase should begin operating next year. The entire project is scheduled to be finished in 2012. TransCanada is a buy. buy…