On Tuesday, January 24, 2017, President Donald Trump signed the executive memorandum to revive Keystone Pipeline and Dakota Pipeline that have been blocked in the previous Obama administration. This yet another swift executive order from President Trump creates hope for investors who hold stocks of the companies impacted by both major pipelines.
The Street on the same day reported list of companies benefiting from this initiative. First of all with Keystone Pipeline approval, TransCanada(TRP) can now move oil made of tar sand from Canada to US Gulf Coast. Then on the Dakota Pipeline side, drillers including SM Energy (SM), Newfield Exploration (NFX), Whiting Petroleum(WLL), Hess (HES) and Continental Resources(CLR) would receive immediate benefit while pipeline operator Energy Transfer Partners (ETP) and Sunoco Logistics Partners (SXL) would also clear the hurdle set by the previous presidency.
Below are the list of stocks benefiting from Keystone and Dakota Pipelines.