FP says Baytex, other seen returning to main TSX index
2021-11-26 09:44 ET - In the News
See In the News (C-BTE) Baytex Energy Corp
The Financial Post reports in its Friday, Nov. 26, edition that eight Canadian oil and gas companies are expected to storm into the all-important S&P/TSX Composite Index next month in a massive index change that analysts believe will spark a buying spree in energy stocks by index-focused funds. The Post's Geoffrey Morgan writes that shares in Canadian oil and gas companies have outperformed the broader market this year thanks in large part to rising crude and natural gas commodity prices, declining leverage ratios and expanded pipeline capacity from Enbridge's Line 3 replacement and TC Energy's Nova gas pipeline system expansions. The S&P/TSX Capped Energy Index has climbed 87 per cent year-to-date, outperforming the Canadian benchmark index's 23 per cent jump. Now, ATB Capital Markets expects eight Calgary oil patch companies will be added to the key S&P/TSX Composite Index in the December rebalancing. ATB predicted that index provider S&P Global will add Advantage Energy, Baytex Energy, Freehold Royalties, Paramount Resources, Peyto Exploration and Development, Secure Energy Services, Tamarack Valley Energy and Topaz Energy to the key index next month.
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