TC Energy's liquids pipeline spin-off, South Bow Corp, edged lower on its first day of trading on the Toronto Stock Exchange on Wednesday, tracking a broader...
- TC Energy's liquids pipeline spin-off, South Bow Corp, edged lower on its first day of trading on the Toronto Stock Exchange on Wednesday, tracking a broader weakness in Canadian energy stocks.
South Bow has made clear it will focus on maximizing operations on its existing assets and returning cash to shareholders, rather than becoming a growth engine, said Martin Cobb, senior vice president of equities at Lorne Steinberg Wealth Management, which holds shares in South Bow.
"The high level of contracts and competitive position of the Keystone pipeline supports a healthy valuation, but the less diversified cash flows, lower growth and higher leverage will likely weigh on valuation relative to peers," BMO Capital Markets analyst Ben Pham said in a research note.Quebec man, 31, faces second-degree murder charge in fiancée's killing
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