TRP grows in the oil sands

Article Excerpt

TRANSCANADA CORP. $44.88 (Toronto symbol TRP; Shares outstanding: 704.5 million; Market cap: $31.6 billion; TSINetwork Rating: Above Average; Dividend yield: 3.9%; www.transcanada.com) has won a contract to build and operate a 90-kilometre pipeline that will pump bitumen from the Fort Hills oil sands project to an upgrading facility near Fort McMurray, Alberta. This new line, called the Northern Courier Pipeline, will cost $660 million. Regulators still need to approve the project. TransCanada will submit an initial application in late 2012; it hasn’t said when it would begin construction. TransCanada is a buy. buy…