TransCanada edges lower, Canada won't go with NAFTA challenge on Keystone

|About: TransCanada Corporation (TRP)|By:, SA News Editor

TransCanada (TRP -0.4%) ticks lower even after reporting strong gains for adjusted Q1 earnings, cash flow and revenue as harsh winter weather conditions helped pipeline demand.

TRP attributes the gains to higher earnings from its NGTL System, Keystone, Bruce Power, U.S. power, and natural gas storage operations.

TRP says it expects to place ~C$3.6B of assets into service this year, including its recently completed 485-mile extension of its Keystone pipeline system from Cushing, Okla., to the U.S. Gulf coast.

Meanwhile, Natural Resources Minister Greg Rickford says Canada is not considering a NAFTA challenge after the U.S. delayed its decision on approving Keystone XL (earlier).