TRP waits for U.S. election

Article Excerpt

TRANSCANADA CORP. $45.10 (Toronto symbol TRP; Shares outstanding: 708.9 million; Market cap: $31.5 billion; TSINetwork Rating: Above Average; Dividend yield: 4.6%; www.transcanada.com) earned $440 million, or $0.62 a share, in the three months ended September 30, 2015. That’s down 2.2% from $450 million, or $0.63 a share, a year earlier. The decline is mainly due to lower power prices in Alberta. Unplanned outages also cut earnings at the Bruce nuclear power station in Ontario (TransCanada owns 48.9% of the Bruce A reactor and 31.6% of Bruce B). However, revenue rose 20.1%, to $2.9 billion from $2.45 billion, due to gains from its pipelines and U.S. power plants. Meanwhile, TransCanada has asked the U.S. State Department to suspend its review of the company’s proposed Keystone XL pipeline, which would pump crude oil from Alberta’s oil sands to refineries on the U.S. Gulf Coast. The Obama administration continues to delay its final decision, so this move would postpone any further work on…