NEW YORK, February 15 (FinanceEnquiry.com) - Analyst Michael Kay of S&P Capital IQ reiterates his BUY rating on the shares of TransCanada Corp (NYSE: TRP), while reducing his estimates for the company.

In a research note published yesterday, the analyst mentions that the company has reported its Q4 EPS of $0.52, vs. $0.55, is $0.12 below the estimate due to outages at Bruce Power and lower results in US Power and natural gas. TransCanada expects Unit I at the Bruce Power facility to be online in Q1 and Unit II by Q3. The company says that continues to work with the State of Nebraska to fix an alternative route for the Keystone XL pipeline that the US denied this January. TransCanada plans to submit a new application and working on its way to maintain its construction schedule. The EPS estimate for 2012 has been reduced from $2.46 to $2.35 and for 2013 it is set at $2.70.