August Investor Presentation If you go to the Tourmaline website and read the Aug 2023 Investor Presentation (page 9), they are projecting 2024 Free Cash Flow / Dividends per share at $4.40. This is a fair step down from 2023 projected at $5.53 per share.
The implied yield for 2024 at current share price is 6.4% - frankly not all that exciting - seems like they are maybe turning in to an Enbridge type of stock where you are in it for the yield only (albeit with a whole different debt profile)
Hopefully they are going with the under promise and over deliver philosophy. They are very good at getting higher than market NG prices and with LNG projects upcoming, maybe some more upside is coming. Obviously gas rates affect this up or down but it looks like stock will likely be flat for some time to come. Debt is down to very nice low level - $682 million by year end.
Also of note - a fair amount of insider selling recently (other than Mike Rose) - cashing out performance options (given in the low $20's)
Any other takes / opinions on the Investor Presentation ?