NEW YORK (TheStreet) -- Shares of TransCanada Corp. (TRP) are slightly lower at $50.42 after the energy company, proposing the $5.4 billion Keystone XL pipeline, said comparable profit declined to the lowest in six quarters as it sold less power and electricity prices fell, Bloomberg reports.
Net income excluding one-time items fell to C$332 million ($304 million), or 47 cents per share, in the second quarter from C$357 million, or 51 cents per share, a year earlier.
That missed the 48 cent average of 10 analysts' estimates compiled by Bloomberg. Profit including a C$99 million gain from the sale of the Cancarb power plant in Alberta increased 14% to C$416 million.
Must Read: Warren Buffett's 25 Favorite StocksSTOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. TheStreet Ratings team rates TRANSCANADA CORP as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation: "We rate TRANSCANADA CORP (TRP) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, increase in stock price during the past year, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated." STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
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