The Successful Investor Hotline – Friday, April 17, 2015

Article Excerpt

TRANSCANADA CORP., $56.42, Toronto symbol TRP, has announced a new deal with Magellan Midstream Partners (New York symbol MMP). The two firms have formed a 50/50 partnership to build a pipeline connecting their oil-storage facilities in Houston, Texas. This will give TransCanada’s oil-shipping clients access to more refineries in the Houston area. The company’s share of the $50-million cost is $25 million. To put that in context, TransCanada earned $511 million, or $0.72 a share, in the three months ended December 31, 2014. The partners expect to complete this project in mid-2016. TransCanada is a buy. TransCanada was recently covered in the May 2015 issue of The Successful Investor. Click here to access it. TransCanada was recently covered in the April 2015 issue of The Successful Investor. Click here to access it. TECK RESOURCES LTD., $16.50, Toronto symbol TCK.B, owns 20.0% of the Fort Hills oil sands project in Alberta, which is scheduled to start up in late 2017. Suncor Energy (Toronto symbol SU) owns 40.8%…