TransCanada Gets OK for Texas Portion of Keystone XL Pipeline

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