Joe Gemino

The market is underestimating long-term cash flows once oil prices normalize.

Cenovus Energy remains our top pick among the subsector.

The wide-moat firm's long and winding road should lead to significant upside.

The wide-moat firm has one of the most attractive dividends in the Canadian energy sector.

The wide-moat firm remains one of our top picks in the energy sector despite uncertainty associated with future mainline utilization.

Our fair value estimates for TransCanada and Enbridge are unchanged.

It has a wide moat and an attractive yield, and now's the time to invest.

Oil and gas firms Enbridge and TransCanada both expect to grow their dividends through 2020 and 2021.

The market continues to underestimate the capacity of the shale industry to eventually throw oil markets back into oversupply.

Enbridge is seeking to acquire all public shares of its remaining sponsored vehicles--and we like the move.

We think this is a good move for Cenovus because we don’t ascribe much value to its non-oil sands exploration and development assets.

We are maintaining our fair value estimates and wide moat rating for the firm.

The longer the delay, the worse the supply onslaught becomes.

The wide-moat company is on course to boost its dividend and offers hefty upside.

The company offers a compelling midstream opportunity and a strong dividend yield.

The market is overlooking the upside in TransCanada's healthy pipeline of growth opportunities.

Huge output decline boosts near-term fundamentals, but lofty prices likely to trigger dangerous shale growth later.

We think the market is overreacting to the news of lower first-quarter production.

The market's underestimation of Enbridge's growth portfolio has created an appealing opportunity today.

And the company continues to reward investors with annual dividend growth.

The inevitable resumption of production growth in the U.S., coupled with expansion in Libya and Nigeria, will likely nudge crude stockpiles higher again in 2018.

Our top pick in Canadian energy is Cenovus Energy, and we like wide-moat Enbridge in the midstream sector.

Nothing is certain in the world of oil, but a crude awakening for energy investors could be near.

OPEC output cut extensions don't appear to be enough to balance the oil market.

The company's not getting enough credit for its SAP technology cost reductions and conventional production growth.

The market is overlooking the immense growth potential in Cenovus' reserves that can be brought on line with new, cost-lowering technology.

Rapid U.S. production growth is looming and puts the nascent oil price recovery at risk.

The narrow-moat firm's Keystone XL project still faces several obstacles.

The market isn't giving the company enough credit for the recent acquisition.

Next-generation solvent technology is lowering costs, and the long-term impact could be immense.

Improved near-term fundamentals come at a cost.

We think the market is underestimating the Canadian firm's ability to generate cash flow in a low-energy price environment.

We expect a medium-term oil price rally in 2018 but remain bearish on long-term oil prices.

The deal allows the wide-moat energy company to diversify its operations toward natural gas while protecting its dividend growth.

Despite an uncertain time horizon for major growth projects, the oil and energy firm's ability to generate free cash flow shouldn’t be overlooked.

The midstream and downstream sectors are likely to hold up better if, as we predict, U.S. supply growth will keep a lid on crude prices.