TransCanada Corp’s Q4 Profits Fall 19 Percent

Bloomberg reported that TransCanada Corp’s Q4 profits dropped by 19 percent, mostly due to a drop in natural gas shipments.

As quoted in the market report:

TransCanada is moving less gas on its pipelines because a glut in North American supplies has reduced prices, resulting in more of the fuel being kept in storage. U.S. imports of Canadian gas fell 7 percent to 5.7 billion cubic feet a day during the first nine months of 2012 from the same period a year earlier, according to the Energy Information Administration.

To view the whole Bloomberg report, click here.