TransCanada Gets OK for Texas Portion of Keystone XL Pipeline
In a closely watched case related to the construction of the Keystone XL pipeline, a judge in Texas has ruled against a landowner and in favor of TransCanada Corp. (NYSE: TRP) in a decision upholding the company’s right of eminent…
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
Those trying to block construction of the pipeline argued that eminent domain did not apply in this case because the proposed pipeline was not a common carrier, but rather a private project that must negotiate right-of-way with each landowner along the route. The judge sided with TransCanada and the Texas Railroad Commission, the state regulatory agency for the oil industry.
Shares of TransCanada closed at $45.71 yesterday in a 52-week range of $37.58 to $46.76. The 52-week high was set on Tuesday, and the stock is up about 13% in the past 12 months.
Paul Ausick
Contact [email protected] for any questions or corrections.
Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
