Q: Hi 5i - VET has been dropping like a stone for a while now! I have a small position- would you add to it here or hold/sell? Any better options in the energy sector?
Thanks, Neil
Thanks, Neil
5i Research Answer:
The sector has been weak, certainly, but VET is now down 23% YTD. There has not been any particularly negative recent news. Its valuation and dividend remain attractive to us. We would still consider it 'OK' and see it as a HOLD. TOU we would consider a 'better' company overall, or CNQ, or SU, but we would prefer to own several in the sector as opposed to a single swap.