TopPicks from Eric Nuttall, partner and senior portfolio manager, Ninepoint Partners
Eric Nuttall, partner and senior portfolio manager at Ninepoint Partners, discusses his top picks: Cenovus Energy, Headwater Exploration, and Whitecap Resources.Cenovus appears to be on the cusp of meaningful improvements in its downstream operations, something that has plagued the company for over a year .
Headwater recently announced highly encouraging exploration success unlocking significant additional running room in the most economic play in North America, which if anyone still paid attention to well results should have negated any worries about limited drilling inventory. It is trading at a 6.4 per cent dividend yield, 3.8x/3.0x EV/CF at $80/$100, no debt, and essentially 100 per cent exposed to our bullish outlook for Western Canadian Select.
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