TransCanada May Be ‘Dead Money’ After U.S. Spurns Keystone
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TransCanada Corp. may lag behind other energy-infrastructure companies as it seeks new growth prospects following President Barack Obama’s rejection of its Keystone XL oil-sands crude pipeline.
The $7 billion project had the potential to add $10 a share to TransCanada’s stock price in 2012 and continue the transformation of the Calgary-based company from a gas and nuclear utility to an oil-pipeline powerhouse, Carl Kirst, an analyst with BMO Capital Markets in Houston, said yesterday in a telephone interview.