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TransCanada Corporation (TRP)

  • Tue, Feb. 24, 3:52 PM
    • Pres. Obama has vetoed the bill approving construction of the Keystone XL oil pipeline (TRP +0.4%).
    • A spokesman for Senate Majority Leader McConnell says the Senate would vote soon on an override of the veto; Sen. John Hoeven, the bill's chief Republican sponsor, says the bill is about four votes short in the Senate and about 11 in the House.
    • A White House spokesman says it is "certainly possible" the president could approve the project after the State Department review.
    | Tue, Feb. 24, 3:52 PM | 18 Comments
  • Tue, Feb. 24, 3:43 PM
    • Morgan Stanley’s (NYSE:MS) infrastructure arm has begun seeking bids for natural gas pipeline operator Southern Star Central, Bloomberg reports.
    • MS reportedly has sent offering documents to potential bidders including Tallgrass Energy Partners (NYSE:TEP) and TransCanada (NYSE:TRP), and is said to be soliciting bids from operators of gas pipelines including Williams Cos. (WMB, WPZ), Spectra Energy (NYSE:SE) and Boardwalk Pipeline Partners (NYSE:BWP), as well as other infrastructure investors such as Macquarie (NYSE:MIC).
    • Southern Star operates 6K miles of natural gas pipelines in the midwestern U.S., and is valued at as much as $1.5B.
    | Tue, Feb. 24, 3:43 PM | 7 Comments
  • Mon, Feb. 23, 7:25 PM
    • Most of the heavy Canadian crude planned to flow through the Keystone XL pipeline (NYSE:TRP) would be refined inside the U.S., and the resulting gasoline, diesel and other petroleum products would be consumed domestically too, according to a new analysis from consulting firm IHS.
    • The report debunks a major argument of Keystone's detractors, as well as Pres. Obama, who have cast the project as an “export pipeline” that would only ferry crude through the U.S. en route to other countries.
    • IHS says Gulf coast refiners are hungry for the heavy crude that would come out of Canada’s oil sands - diluted to flow through Keystone XL - and likely would displace heavy high-sulfur crudes now imported from Venezuela and Mexico.
    • Meanwhile, the White House appears set to quietly kill off the forthcoming bill aimed at approving the controversial pipeline via a presidential pocket veto, sending the bill back to Congress after 10 days without a signature.
    | Mon, Feb. 23, 7:25 PM | 23 Comments
  • Fri, Feb. 13, 5:58 PM
    • TransCanada (NYSE:TRP) is planning another cross-border pipeline, but unlike the Keystone XL project, the proposed Upland pipeline would serve U.S. customers by transporting oil away from the U.S., as much as 70K bbl/day of North Dakota crude that now moves by rail to refineries in east Canada.
    • An undaunted CEO Russ Girling says he hopes Keystone is "an anomaly in Canada-U.S. trade of energy, but obviously, the market isn’t waiting for the regulators to catch up with their decisions; they’re moving the oil now."
    • The project will be subject to regulatory reviews in Canada and the U.S., including the same kind of national interest analysis the U.S. State Department is now conducing on Keystone.
    • It is not yet clear where Upland would enter the U.S., though it could be north of Minot, N.D.; the pipeline is expected to connect to the proposed 1.1M bbl/day Energy East pipeline in Saskatchewan.
    | Fri, Feb. 13, 5:58 PM | 2 Comments
  • Fri, Feb. 13, 10:39 AM
    • 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.
    | Fri, Feb. 13, 10:39 AM | Comment!
  • Fri, Feb. 13, 9:55 AM
    • TransCanada (NYSE:TRP): Q4 EPS of C$0.65 beats by C$0.02.
    • Revenue of C$2.62B (+12.4% Y/Y) in-line.
    • Press Release
    | Fri, Feb. 13, 9:55 AM | Comment!
  • Fri, Feb. 13, 8:49 AM
    • TransCanada (NYSE:TRP) declares C$0.52/share quarterly dividend, 8.3% increase from prior dividend of C$0.48.
    • Forward yield 3.54%
    • Payable April 30; for shareholders of record March 31; ex-div March 27.
    | Fri, Feb. 13, 8:49 AM | 3 Comments
  • Wed, Feb. 11, 8:16 AM
    • TransCanada (NYSE:TRP) says it sent a letter to the U.S. State Department rejecting comments made by the EPA that the Keystone XL Pipeline would increase the rate of oil sands production at lower oil prices and raise greenhouse gas emissions.
    • TRP also disagrees with the EPA’s suggestions that the State Department had not fully assessed the environmental impacts of the pipeline.
    • The letter was a response to a Feb. 2 EPA comment letter on a Final Supplemental Environmental Impact Statement.
    | Wed, Feb. 11, 8:16 AM | 3 Comments
  • Mon, Feb. 9, 12:30 PM
    • Alberta is in talks with Alaska about shipping oil sands crude through the state to the Pacific, as energy supporters struggle to convince opponents in Vancouver and Washington state of the merits of building new pipelines to ship crude out of the land-locked province.
    • An Alaska plan that would involve constructing a pipeline along the Mackenzie River valley and then west to existing ports on the U.S. coast is "technically feasible, [but] whether it’s economically feasible has yet to be determined," Alberta Premier Jim Prentice tells Bloomberg.
    • The route for a potential Alaska pipeline would cross through Canada’s Yukon and Northwest Territories, where both governments are supportive, Prentice says.
    • Enbridge's (NYSE:ENB) planned Northern Gateway pipeline would terminate at B.C.'s Kitimat port, where groups oppose the project; Kitimat is ~1,000 miles southeast of the Alaskan port of Valdez.
    • Alberta’s other pipeline options include TransCanada’s (NYSE:TRP) Energy East project to the Atlantic port of Saint John, New Brunswick; TRP's Keystone XL pipeline to the Gulf of Mexico; and Kinder Morgan’s (NYSE:KMI) Trans Mountain expansion to the port of Vancouver.
    | Mon, Feb. 9, 12:30 PM | 24 Comments
  • Thu, Feb. 5, 12:58 PM
    • TransCanada (TRP +1.2%) CEO Russ Girling says Canada’s push to become a global resource powerhouse is at risk of failing unless government leaders take more assertive action to resolve conflicts around aboriginal relations, resource extraction and pipeline development that are holding up key projects.
    • Governments are torn as they weigh resource development against local concerns, but “at some point, you’ve got to lead,” the CEO says, reflecting the growing frustration in the energy sector as Canada’s oil patch braces for an extended slump due to plunging crude prices.
    • Girling says the country faces a fundamental question: "As Canadians, I think that we should be screaming right now... are we a resource-based nation or not?"
    • The CEO also warns of possible delays to the proposed C$12B Energy East pipeline after encountering resistance in Quebec over potential impacts on Beluga whale calving grounds at the site of a planned export terminal.
    | Thu, Feb. 5, 12:58 PM | 9 Comments
  • Wed, Feb. 4, 5:49 PM
    • TransCanada (NYSE:TRP) CEO Russ Girling says the idea that the environmental impacts of the Keystone XL pipeline be revisited in light of lower crude prices is merely a tactic to delay the project.
    • The EPA says Keystone XL would lead to higher greenhouse gas emissions but suggests the State Department could revisit how large a toll the pipeline would have on global warming when considering lower oil prices, but Girling volatile crude prices do not mitigate the longer-term need for pipelines to transport that oil.
    • Meanwhile, worried about rail cutting into its business as much as Keystone's never-ending saga, TRP says it plans to enter the rail business "in the coming months" as it connects customers to its sprawling network across North America.
    | Wed, Feb. 4, 5:49 PM | 5 Comments
  • Tue, Feb. 3, 11:59 AM
    • The EPA says developing the Keystone XL pipeline (TRP +2.9%) would “significantly increase” the greenhouse gas emissions from the oil sands, a conclusion environmental groups say gives Pres. Obama reason to reject the proposed pipeline.
    • In a letter to the State Department, the EPA’s Cynthia Giles undercuts assurances that the pipeline would not have an impact on Canadian emissions, saying the State Department’s environmental impact analysis concludes the pipeline would result in as much as 27.4M metric tons of carbon dioxide equivalents per year, the same as emissions from 5.7M passenger vehicles.
    • The Natural Resources Defense Council says the assessment means the pipeline fails the standard Obama has said he’ll use to judge the project.
    | Tue, Feb. 3, 11:59 AM | 45 Comments
  • Thu, Jan. 29, 4:14 PM
    • The U.S. Senate passes a bill approving construction of the Keystone XL (NYSE:TRP) oil pipeline; the bill's 62 votes meant it earned some support from Democrats but not enough to overcome an expected veto from Pres. Obama.
    • The Senate bill includes amendments not attached to a House-passed version; the House could now pass the Senate bill or lawmakers from each chamber could meet to work out a new version.
    | Thu, Jan. 29, 4:14 PM | 5 Comments
  • Tue, Jan. 27, 6:27 PM
    • The U.S. Senate is on track to pass legislation to approve the Keystone XL pipeline (NYSE:TRP) by the end of the week, Majority Leader Mitch McConnell says.
    • Keystone legislation stalled yesterday as Democrats raised objections about the number of amendments they’ve been allowed to offer; Republicans say the Senate has voted on two dozen amendments, more than were voted on in all of 2014 under Democrat control.
    • Republicans control the Senate 54-46, and because six Democrats have signed on as sponsors of the Keystone bill, party leaders expect to get the 60 votes needed to pass legislation despite failing yesterday in two procedural votes.
    | Tue, Jan. 27, 6:27 PM | 7 Comments
  • Tue, Jan. 27, 2:22 AM
    • Democrats in the U.S. Senate blocked the Keystone XL (NYSE:TRP) pipeline bill from moving forward on Monday, prolonging the chamber’s debate over the project.
    • Senators voted 53-39 against a motion that would have allowed a vote on a final bill; it needed 60 to pass.
    • Citing a continuing review process by the State Department, the White House has said President Obama would veto the measure should it reach his desk.
    | Tue, Jan. 27, 2:22 AM | 23 Comments
  • Sat, Jan. 24, 8:25 AM
    • In a low-yield world, the newly launched iBillionaire High Dividend Index - which tracks the trading moves of 25 investing-savvy billionaire investors such as Stanley Druckenmiller, James Dinan and Nelson Peltz - actually lives up to its name with a dividend yield of 5.34%.
    • At 24%, the index has a high allocation of energy shares, including OXY, TRP, CNP, COP, BP, ATLS, CVI, WMB, APL, RIG and ARP.
    • Also worth noting is that the index contains some high-yielding mortgage REITs, an area most investors hate right now but where billionaires seem to find value; examples are NRF, AGNC and CIM.
    • No mutual fund or ETF tracks this index, but it offers a fishing pond of income investment ideas to research further.
    • The top 20 holdings: TLM, CVC, GM, TIME, AEE, D, STAY, KMI, TROX, EXC, STNG, PPL, IRM, PFE, KKR, KAR, F, MIC, LO, ABBV.
    | Sat, Jan. 24, 8:25 AM | 112 Comments
TRP vs. ETF Alternatives
Company Description
TransCanada Corporation is an energy infrastructure company. The Company operates in three business segments: Natural Gas Pipelines, Liquid Pipelines and Energy.
Sector: Utilities
Industry: Gas Utilities
Country: Canada