Nebraska approves new Keystone route

Article Excerpt

TRANSCANADA CORP. $49 (Toronto symbol TRP; Conservative Growth Portfolio, Utilities sector; Shares outstanding: 705.0 million; Market cap: $34.5 billion; Price-to-sales ratio: 4.0; Dividend yield: 3.6%; TSINetwork Rating: Above Average; www.transcanada.com) has received approval from Nebraska’s governor for its plan to reroute the proposed Keystone XL pipeline around environmentally sensitive areas of the state. The company is currently building Keystone XL in sections. When completed, it would pump oil from Alberta to the U.S. Gulf Coast. The final project still needs various approvals, including from the U.S. State Department. Even so, Nebraska’s consent makes Keystone XL’s approval more likely. TransCanada is a buy. buy…