UPDATE 1-Pipeline operator TransCanada posts higher-than-expected profit

(Adds details, share close)
July 31 (Reuters) - TransCanada Corp TRP.TO TRP.N , the
country's No. 2 pipeline company, reported a
higher-than-expected quarterly profit on Friday, boosted by
higher earnings from both its Keystone line, which carries
Canadian crude to the U.S. Midwest and Gulf Coast, and its
cross-country Canadian Mainline system.
Comparable earnings before interest, taxes, depreciation and
amortization (EBITDA) from the Keystone system rose 25 percent
to C$320 million ($246 million) in the three months to June 30.
The Calgary-based company said profit was boosted mainly by
the line's extension to the Gulf Coast, which went into service
in January 2014, as well as by a stronger U.S. dollar and higher
uncontracted volumes. ID:nMKW85gFSa
EBITDA from TransCanada's cross-country Canadian Mainline
pipeline, which carries natural gas from Alberta to Ontario,
rose 6 percent to C$583 million.
Canadian Prime Minister Stephen Harper told Bloomberg TV on
Wednesday he was not hopeful that the United States would
approve the northern leg of TransCanada's controversial Keystone
XL pipeline. ID:nL1N1092AQ
TransCanada has waited more than six years for the Obama
administration to make a decision on whether to allow the
project to proceed, frustrating Canadian oil producers and
governments eager to see more of the country's oil reach the
high-paying refinery hub on the Gulf Coast.
TransCanada's profit rose to C$397 million, or 56 Canadian
cents per share, in the quarter, from C$332 million, or 47
Canadian cents per share, a year-earlier.
Analysts on average had expected earnings of 52 Canadian
cents per share, according to Thomson Reuters I/B/E/S.
TransCanada's shares closed at C$50.37 on the Toronto Stock
Exchange on Thursday. Up to Thursday's close, the stock had
fallen nearly 12 percent this year.($1 = C$1.30)