RE:The Altagas connection to Montney My post of January 6 discussed Cormark Securities sudden interest in Chinook Energy (CKE) and my suspicion that, directly or indirectly, Altagas could be behind this. Well an alert reader has sent me this summary of house positions which only peaks my interest. Cormark Securities is one the best informed and connected investment bankers to the Montney.
| House Positions for C:CKE from 20181205 to 20190104 |
| House | Bought | $Val | Ave | Sold | $Val | Ave | Net | $Net |
| 73 Cormark | 1,895,000 | 276,035 | 0.146 | 0 | | 1,895,000 | -276,035 |
| 80 National Bank | 189,641 | 32,166 | 0.17 | 62,512 | 10,550 | 0.169 | 127,129 | -21,616 |
| 57 Interactive | 68,250 | 9,633 | 0.141 | 16,000 | 2,720 | 0.17 | 52,250 | -6,913 |
| 79 CIBC | 188,000 | 29,847 | 0.159 | 154,059 | 23,807 | 0.155 | 33,941 | -6,040 |
| 19 Desjardins | 43,289 | 7,398 | 0.171 | 12,533 | 2,183 | 0.174 | 30,756 | -5,215 |
| 7 TD Sec | 234,048 | 34,394 | 0.147 | 205,604 | 36,087 | 0.176 | 28,444 | 1,693 |
| 53 Morgan Stanley | 13,900 | 2,080 | 0.15 | 1,500 | 280 | 0.187 | 12,400 | -1,800 |
By the way in my analysis of the break up value of CKE, the per share pipeline value should read 23c - the rest of the numbers remain the same. Breakup value estimated at $1.37 vs current trading price of CKE at 14c