3 Stocks Advancing The Utilities Sector

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

All three major indices are trading down today with the Dow Jones Industrial Average ( ^DJI) trading down 205 points (-1.3%) at 15,494 as of Monday, Feb. 3, 2014, 11:55 AM ET. The NYSE advances/declines ratio sits at 659 issues advancing vs. 2,313 declining with 134 unchanged.

The Utilities sector currently sits down 0.6% versus the S&P 500, which is down 1.3%.

TheStreet would like to highlight 3 stocks pushing the sector higher today:

3. TransCanada ( TRP) is one of the companies pushing the Utilities sector higher today. As of noon trading, TransCanada is up $0.65 (1.5%) to $44.09 on heavy volume. Thus far, 378,009 shares of TransCanada exchanged hands as compared to its average daily volume of 494,600 shares. The stock has ranged in price between $43.90-$44.79 after having opened the day at $44.75 as compared to the previous trading day's close of $43.44.

TransCanada Corporation operates as an energy infrastructure company in North America. The company operates in three segments: Natural Gas Pipelines, Oil Pipelines, and Energy. TransCanada has a market cap of $30.3 billion and is part of the utilities industry. The company has a P/E ratio of 22.6, above the S&P 500 P/E ratio of 17.7. Shares are down 4.9% year-to-date as of the close of trading on Friday. Currently there are 5 analysts who rate TransCanada a buy, no analysts rate it a sell, and 2 rate it a hold.

TheStreet Ratings rates TransCanada as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, compelling growth in net income, expanding profit margins, good cash flow from operations and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated. Get the full TransCanada Ratings Report now.

3x UPSIDE POTENTIAL: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

If you liked this article you might like

Keystone Pipeline Critics Appealing to GOP's Favorite Issues in Nebraska Battle

TransCanada to Decide on Keystone XL Pipeline Investment by December

Nobody's Interested: TransCanada Facing New Keystone XL Issue

Energy Transfer's Pipeline Spill Problem Is Causing It Another Headache

Week in Review: Stocks See Worst Week Since Election as Trump Dealt Setback With Health-Care Bill