January 24, 2017 / 3:18 PM / in a year

BUZZ-Trump signs DAPL, XL pipeline orders, pipe stocks rally

(Updates stock prices, adds news on pipelines) ** U.S.-listed shares of TransCanada Corp hit highest in two years, Energy Transfer Partners gains 4.2 pct to $37.26

** U.S. President Donald Trump signed two executive orders on Tuesday to move forward with construction of the controversial Keystone XL and Dakota Access oil pipelines

** TransCanada’s 830,000-barrel-per-day Alberta-U.S. Midwest Keystone XL was rejected by Obama administration in Nov. 2015 over environmental concerns

** Energy Transfer’s $3.8 bln Dakota Access Pipeline beneath a lake near a North Dakota Indian reservation has been opposed over threats to water resources and sacred Native American sites

** Since Trump’s Nov. 8 election win, TransCanada’s U.S.-listed shares and ETP’s stock have both climbed more than 11 pct

** The Alerian MLP index has risen more than 13 pct since Trump’s election and on Tuesday touched its highest since Nov 2015

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