|Bid||50.94 x 0|
|Ask||51.00 x 0|
|Day's Range||50.82 - 52.02|
|52 Week Range||48.92 - 65.18|
|Beta (3Y Monthly)||0.47|
|PE Ratio (TTM)||13.79|
|Earnings Date||Feb 13, 2019 - Feb 18, 2019|
|Forward Dividend & Yield||2.76 (5.38%)|
|1y Target Est||64.60|
The oil pipeline has already been stuck in regulatory quicksand for a decade. In 2008 TransCanada applied for a permit to move up to 830,000 barrels of bitumen crude per day from the Alberta oil sands to Gulf Coast refineries. Amid a drawn-out review, the Obama State Department issued five determinations that the pipeline would have no material impact on greenhouse gas emissions.
TransCanada Corp. says it doesn't know when it will be able to build its Keystone XL pipeline after a Montana judge stopped it last week but it is confident the project will make money once it is built and in service. It's too soon to say what the decision by U.S. District Judge Brian Morris last Thursday will mean to the timeline and cost of the pipeline, Paul Miller, liquids pipeline president, said at TransCanada's investor day in Toronto on Tuesday. The project was proposed in 2008, denied by former president Barack Obama in 2015 (leading to a $2.9-billion non-cash writedown for TransCanada) and resurrected by President Donald Trump in 2017.
"We're going through the decisions, we're reviewing the deficiencies to determine how best to address the deficiencies," Paul Miller, President, Liquids Pipelines, said at an Investor Day in Toronto. TransCanada is still expecting a separate ruling from a Nebraska court on routing. Shares of TransCanada were down 0.33 percent at C$51.45 in Toronto.
Higher contribution from U.S. Gas Pipelines and Liquids businesses drives the results of TransCanada (TRP) in the third quarter of 2018.
WINNIPEG, Manitoba/NEW YORK (Reuters) - A U.S. judge in Montana has blocked construction of the Keystone XL pipeline designed to carry heavy crude oil from Canada to the United States, drawing praise on Friday from environmental groups and a rebuke from President Donald Trump. The ruling of a U.S. Court in Montana late on Thursday dealt a setback to TransCanada Corp (Toronto:TRP.TO - News), whose stock fell 1.7 percent in Toronto.
TransCanada Corporation (TSX:TRP)(NYSE:TRP) stock had another setback last week as the Keystone XL continues to run into issues.
News Release – TransCanada Corporation (TSX, NYSE: TRP) (TransCanada) will host its annual Investor Day in Toronto today where it will provide a financial update and review strategic plans for its natural gas pipelines, liquids pipelines and energy businesses in Canada, the United States and Mexico. “Our $94 billion portfolio of energy infrastructure assets are expected to generate record financial results in 2018 underpinned by strong market fundamentals,” said Russ Girling, TransCanada’s president and chief executive officer. As those projects enter service, TransCanada expects comparable earnings before interest, taxes, depreciation and amortization (EBITDA) to grow to approximately $10 billion in 2021, a 35 per cent increase when compared to comparable EBITDA of $7.4 billion in 2017.
TransCanada Corporation (TSX:TRP) is the least risky dividend stock, while AltaGas Ltd. (TSX:ALA) represents a higher risk, higher return option.
A federal ruling blocking the Trump administration’s approval of the Keystone XL pipeline further clouds the future of a project that has faced a decade of delays due to fevered opposition from environmentalists, landowners and Native American groups. U.S. District Judge Brian M. Morris ruled Thursday night that President Trump’s 2017 cross-border permit of the pipeline expansion by TransCanada Corp. hadn’t considered all impacts as required by federal law, and that construction couldn’t move forward until a supplemental environmental review is completed. The decision means the pipeline expansion to carry oil from Alberta to Nebraska is certain to face at least some additional delays, as the ruling is either appealed to a higher court, or government officials complete the extra analysis.
A Montana federal judge Thursday found that the 2014 environmental assessment by the Obama administration fell short. President Donald Trump used that review in a March 2017 decision allowing the project to proceed. Now, the government must consider oil prices, greenhouse-gas emissions and formulate a new spill-response strategy before allowing the pipeline to move forward, U.S. District Judge Brian Morris wrote in a ruling.
WINNIPEG, Manitoba/NEW YORK (Reuters) - A U.S. judge in Montana has blocked construction of the Keystone XL pipeline designed to carry heavy crude oil from Canada to the United States, drawing praise on Friday from environmental groups and a rebuke from President Donald Trump. The ruling of a U.S. Court in Montana late on Thursday dealt a setback to TransCanada Corp, whose stock fell 1.7 percent in Toronto.
Global oil prices were battered by a “kitchen sink” full of headwinds on Friday, sending U.S. and European benchmarks tumbling roughly 20 per cent from their October highs.
CALGARY, Alberta, Nov. 09, 2018 -- News Release – TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) today launched an open season to solicit binding commitments from.
Energy producers in the northern nation already are struggling with a shortage of pipeline space that has hammered prices for their crude, sending its discount to U.S. benchmarks to the widest on record in recent weeks. Keystone XL was seen as a major step toward solving that problem. The pipeline would have added 830,000 barrels of daily shipping capacity -- about 4.2 percent of U.S. oil demand -- when it came into service, which was expected to happen in 2021.
The ruling deals a major setback for TransCanada Corp and could possibly delay the construction of the $8 billion, 1,180 mile (1,900 km) pipeline. The ruling is a victory for environmentalists, tribal groups and ranchers who have spent more than a decade fighting against construction of the pipeline that will carry heavy crude to Steele City, Nebraska, from Canada’s oilsands in Alberta. U.S. District Court Judge Brian Morris' ruling late on Thursday came in a lawsuit that several environmental groups filed against the U.S. government in 2017, soon after President Donald Trump announced a presidential permit for the project.
A federal judge in Montana on Thursday blocked the Trump administration’s permit allowing the Keystone XL pipeline and barred any construction of the long-delayed project until completion of a supplemental environmental review. The ruling requires the federal government to update a prior 2014 environmental review of Keystone XL to weigh several additional factors, including the impact of lower oil prices on the project’s viability, its related greenhouse-gas emissions and modeling of potential oil spills it could cause.
The Indigenous Environmental Network, River Alliance and Northern Plains Resource Council filed a pair of lawsuits against the U.S. in March 2017 shortly after President Donald Trump gave his approval for the project to cross the U.S.-Canada border. TransCanada joined the litigation to defend the permit approval. U.S. District Judge Brian Morris in Great Falls agreed with the groups’ argument that a 2014 environmental impact assessment fell short of the National Environmental Policy Act and other regulatory standards.
Key InsightsThe 1,179-mile conduit from western Canada to the central U.S. has faced opposition almost since its inception, as environmentalists see it allowing the further expansion of carbon-intensive oil sands production in Alberta. President Donald Trump approved a permit for the pipeline in January 2017, reversing a 2015 decision by his predecessor Barack Obama.The pipeline would help carry 830,000 barrels of crude a day from Alberta to Steele City, Nebraska, where it could then move on to refineries in the central U.S. and Gulf Coast.
CALGARY, Alberta, Nov. 06, 2018 -- News Release – TransCanada Corporation (TSX, NYSE: TRP) (TransCanada) will host its annual Investor Day on Tuesday, November 13 in Toronto..
Here's why Canadian Pacific Railway Limited (TSX:CP)(NYSE:CP) and another two top Canadian stocks deserve to be on your RRSP radar right now.