Updates on TRANSCANADA CORP., POWER CORP. and LOBLAW COMPANIES

Article Excerpt

TRANSCANADA CORP. $43.51 (Toronto symbol TRP; Shares outstanding: 704.2 million; Market cap: $30.6 billion; TSINetwork Rating: Above Average; Dividend yield: 4.1%; www.transcanada.com) is expanding its Tamazunchale pipeline, which pumps natural gas from Mexico’s state-owned oil company to gas-fired power plants. This extension will cost $500 million U.S. The company expects to complete the project in 2014. The company has a 25-year supply deal with the state-owned power company, which cuts the risk of this project. Mexico continues to convert oil-fired power plants to gas, and TransCanada’s expertise should help it win more pipeline contracts. TransCanada is a buy. POWER CORP. $26.38 (Toronto symbol POW; Shares outstanding: 411.0 million; Market cap: $10.8 billion; TSINetwork Rating: Above Average; Dividend yield: 4.4%; www.powercorporation.com) is a diversified holding company. It holds its financial assets through 66.1%-owned Power Financial. Power Corp.’s financial assets include 68.3% of Great-West Lifeco, one of Canada’s largest life insurers, and 57.5% of IGM Financial, one of the country’s leading mutual fund companies. Power Financial…

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