NEW YORK (TheStreet) -- Shares of TransCanada Corp. (TRP) are down -3.41% to $44.98 after the U.S. State Department on Friday said that it would delay making a recommendation about the Keystone XL pipeline until questions about the way the route was approved through Nebraska are resolved.
TransCanada is the Canadian company that wants to build the pipeline.
Also, the ongoing debate now moves to the Nebraska Supreme Court which was asked to consider a legal challenge to the pipeline.
If that court were to uphold a lower court decision, TransCanada would then have to apply to the Nebraska's Public Service Commission, potentially adding an additional delay of several months.
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, impressive record of earnings per share growth, compelling growth in net income, 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."
Highlights from the analysis by TheStreet Ratings Team goes as follows: