TopPicks from Ryan Bushell, president and portfolio manager, Newhaven Asset Management
Ryan Bushell, president and portfolio manager at Newhaven Asset Management, discusses his top picks: ARC Resources, Telus, and Enbridge.Arc Resources is down ~22 per cent since early December as mild weather has caused a collapse in benchmark natural gas prices. This drop is more than warranted given Arc’s significant condensate production which has a captive audience of oil sands producers and trades at a premium to benchmark oil prices.
The company is out ahead of the pack on its capex cycle, has hidden value in some of its technology investments and will continue to see strong subscriber loading with ongoing population growth from immigration. The shares yield nearly five per cent and the company is increasing its dividend more aggressively than any other telco. Parking some capital in Telus below $30 with a five-year time horizon in an uncertain environment seems like a prudent way to protect and grow capital.
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