Time for a shakeup
I have been a supporter of WCP management in the past but I'm now having some concerns. Record profits, record FCF, debt down to 1.1 billion when they clearly stated not long ago that it would be $800 million. They reduced debt by $100 in Q1 and now say $800 million by Q2? That's $300 million next quarter, why? What are they doing with their cash? They only bought 10 million shares back, why only 10 million? This stock trades at 3.7 x earnings, Suncor trades at 16.5 x earnings with 20 billions in debt with 1.5 plus billion outstanding shares and the stock is up $4.00 because of some shareholders crying the blues saying its undervalued, really, give me a break. It's time for a shakeup, if the stock won't trade at fair value then up the dividend now and pay us.