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After the two-day reprieve due to hurricane Sandy, TransCanada is trading higher on Wednesday, after the markets had a chance to react to the company's earnings release from Monday. TransCanada's earnings per share of $0.52 edged-out analyst estimates but, better yet, it's the company's long-term potential that made investors happy. In addition to the $3 billion dollars in projects that went online so far this year, TransCanada has $10 billion more slated for increasing its midstream portfolio by the end of 2015. Besides increasing its revenue base, TransCanada is also strategically positioning itself away from commodity risk exposure by establishing long-term contracts with key customers.
In addition to the steady cash flow potential for TransCanada, savvy investors should look into refiners who stand to benefit from the extension of TransCanada's Gulf Coast, Keystone, and Mainline Conversion projects. All three projects have the potential to supply substantial WTI indexed crude to the Gulf Coast, the East Coast of Canada, and the United States, giving WTI crude access to refiners in these key export locations.
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