Some shareholders say Keystone XL should go ahead despite longer route
Seeking Alpha
Published Nov 21, 2017 06:15PM ET
Some shareholders say Keystone XL should go ahead despite longer route
- TransCanada (NYSE:TRP) should move forward with the $8B Keystone XL pipeline expansion following Nebraska's approval of an alternative route through the state that would raise the cost of the project, some shareholders say.
- The impact of the additional five miles in the alternative route is unclear, but fund managers say it should be manageable and are broadly positive about the company’s ability to finance the project, even if it has to raise funds through equity issuance.
- “An approval is an approval,” says portfolio manager Ryan Bushell. “Time is more valuable than distance [because of] the rival pipelines and just the fact that the government could change, and this could all get shut down again.”
- “There might be a lot of court cases and what-have-you to go, but on the whole I’d like to see them go ahead with this project,” says portfolio manager Manash Goswami.
- Some analysts estimate Keystone XL has the potential to contribute up to 10% to TRP’s C$55.5B($43.4B) market value.
- Now read: New Jersey Resources Corporation 2017 Q4 - Results - Earnings Call Slides
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