- TransCanada (TRP +0.2%) is slightly higher in early trading after posting better than expected Q4 earnings and raising its dividend by 8%, reflecting higher pipeline project earnings and new oil shipments on the southern leg of the Keystone XL project.
- TRP's latest estimate of the total cost for Keystone XL is US$8B, including US$2.4B spent as of the end of 2014.
- Says it has completed a successful binding open season for a proposed C$600M project called the Upland Pipeline, which would connect North Dakota’s oil fields with the cross-Canada Energy East project; TRP hopes to put Upland into service in 2018.
- Analysts see no material threat to TRP’s dividend growth guidance of at least 8% through 2017, even without the startup of major new pipelines such as Keystone XL, Energy East and two gas conduits planned to Canada’s Pacific coast.
For the latest updates on the stock market, visit,
http://daytradingstock-blog.blogspot.com