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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  TransCanada Corporation    TRP   CA89353D1078

TRANSCANADA CORPORATION (TRP)
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TransCanada : says it is committed to Keystone XL pipeline after judge orders halt

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11/09/2018 | 05:02pm CET

CALGARY — The Canadian proponent of the $10-billion Keystone XL crude pipeline says it remains committed to the oft-delayed project despite a Montana judge's ruling that it must pass a further environmental review.

TransCanada Corp. spokesman Terry Cunha says the company has received the judge's ruling and is reviewing it.

U.S. District Judge Brian Morris put the project on hold, ruling that the potential impact had not been considered as required by federal law. Environmentalists and Native American groups had sued to stop the project, citing property rights and potential oil spills.

The federal court order blocks a Trump administration permit for the construction of the pipeline. Morris was appointed by President Barack Obama.

TransCanada shares on the Toronto Stock Exchange fell by as much as 2.75 per cent in early trading on Friday.

A shortage of export pipeline space to carry away growing oil production in Alberta has been blamed for recent steep discounts in prices for Canadian heavy crude as compared to New York-traded benchmark oil.

The 1,897-kilometre pipeline would carry as much as 830,000 barrels of crude per day from Hardisty, Alta., to Steel City, Neb., and on through a half dozen states to refineries on the Gulf Coast.

© 2018 The Canadian Press. All rights reserved., source Canadian Press DataFile

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Financials (CAD)
Sales 2018 13 087 M
EBIT 2018 5 746 M
Net income 2018 3 206 M
Debt 2018 49 440 M
Yield 2018 5,30%
P/E ratio 2018 14,81
P/E ratio 2019 14,02
EV / Sales 2018 7,41x
EV / Sales 2019 6,90x
Capitalization 47 540 M
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Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 63,3  CAD
Spread / Average Target 22%
EPS Revisions
Managers
NameTitle
Russell K. Girling President, CEO & Non-Independent Director
Siim Alden Vanaselja Chairman
Donald R. Marchand CFO & Executive VP-Corporate Development
Steven Barry Jackson Independent Director
Kevin E. Benson Independent Director
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