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Strategies & Market Trends : Value Investing

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From: E_K_S	1/31/2006 11:46:26 AM
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TransCanada 4Q Profit Leaps on Asset Sale biz.yahoo.com Pipeline operator TransCanada Corp. on Tuesday said its earnings grew 89 percent in the fourth quarter, helped by a hefty gain from selling its interest in PT Paiton Energy Co. This is one I bought 18 months ago and I still like their business especially their natural gas transmission business in the U.S. and Canada. I would like to add to the shares I already own but do not feel that this stock is a compelling buy at 19x earnings. They did raise their dividend and their free cash flow is still very good. Are their any other "value" investors that see this company as a buy at these levels? I recently sold some XOM but probably should have held. They had a very good earnings report and it's hard to think that things could get much better going forward. I do believe that the energy sector continues to be an excellent area to invest in but it's harder to find the values that were available several years back. EKS

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