Work on Keystone could begin soon

Article Excerpt

TRANSCANADA CORP. $56 (Toronto symbol TRP; Conservative Growth and Income Portfolios, Utilities sector; Shares outstanding: 893.0 million; Market cap: $50.0 billion; Price-to-sales ratio: 3.7; Dividend yield: 4.9%; TSINetwork Rating: Above Average; www.transcanada.com) operates a 91,500-kilometre pipeline network that pumps natural gas from Alberta to eastern Canada and the U.S. Its other operations include 4,800 kilometers of crude oil pipelines and 11 power plants. The company has now received most of the approvals it needs for its proposed Keystone XL pipeline. That new line would pump crude oil from Alberta oil sands projects to refineries on the U.S. Gulf Coast. Development costs would exceed $8 billion U.S. While, TransCanada has yet to make a final decision on the project, it has taken steps to begin initial construction this fall. The new line would begin operating in 2021. TransCanada is our #1 Income buy for 2018. 2018…