RE:RE:RE:RE:RE:RE:RE:RE:RE:Energy TrendsI became a shareholder of Peyto in 2006. I have been ever since.
I went thru the ups and downs from $20 to $6 to $40 to $1 to where it's standing today.
Watching the business closely, I was able to trade those fluctutations favorably and increase my position and the % PEY takes in my portfolio. From a few thousand shares 15 years ago at an average cost basis of $15 and 5% of my portfolio. Since then, the position has multiplied eightfold at an ACB of $5 (after substracting accumulated dividends and trading profits) and now represents 15% of my portfolio. I could not have build up this position without Peyto's total screw up on its past dividend policy financed by debt, the horrible basis deal they made out of frustration with AECO negatif price and these hedges put in place under $2 (and as low as $1.50 (if I remember correctly). All these, added to a nasty flooded Natgas market brought PEY on its knees. I could feel the pain as a shareholder, seeing my biggest winner turn into my biggest loser!
In March 2020, I did something I never wanted to do. Double or nothing at $1.25.
Peyto's poor decisions allowed me to build a position that gives me great reward today.