Peyto = boringI have been watching this stock for a while now; I like the low cost structure and conservative management approach. Basically, PEY is happy to be a boring stock focused on fundamentals.
I think the current issue is that this boring stock feels a little bit more risky now that they are struggling to fund the dividend. Investors who have trusted management need to let management execute on their strategy for the next few quarters to show that they made the right choice in continuing to pay the dividend. A cut now with promises of full coverage just over the horizon will undercut faith in the management team.
My only complaint with management is their insistence of continuing to publicly complain about their issues with NGTL and transmission / storage infrastructure. I understand what they are trying to achieve but ultimately they are talking down their own basin! This is bad for sentiment on all WCSB producers and it would be more constructive if they would leave the laundry inside the house.
I continue to watch this closely and will likely open a position if the stock stabilized in this price range.