ARX vs TOU vs WCPQ3 Price to Book value (rbc, Q3 book value, today's market cap)
ARX: 1.65X
TOU: 1.6X
WCP: 1.02X
In the last 3 months Arx has outperformed these peers nicely. ARX management deserves praise for the year. Clean balance sheet, capital discipline, and returning cash to shareholders. ARX is still best in class.
But is WCP looking low key cheap? 8% dividend, nicely discounted on price to book vs peers.
Either way never a dull moment in Canadian energy, ecstasy one month, agony the next. Is adding to positions here a suicide mission?? The U.S loves cheap energy, and cheap energy is great for inflation and the broad economy. Pretty hard to make any sense of the macro environment these days, and the election will be another wild card. Let the bullish catalysts converge in 24, good luck to all, GO ARX.