Biden Revokes Keystone XL Permit
The company announced that it will suspend the project, and we don’t expect any attempts to build the project to be successful under the Biden administration.
Joe Gemino
Joe Gemino, CPA, is a senior equity analyst for Morningstar Research Services LLC, a wholly owned subsidiary of Morningstar, Inc.. He covers Canadian oil and gas companies.
Before joining Morningstar in 2015, Gemino held equity analyst roles for Goldman Sachs and Gate City Capital Management. Before business school, he was a technical accountant for Citigroup and Northern Trust.
Gemino holds a bachelor’s degree and a master’s degree in accountancy from the University of Notre Dame along with a master’s degree in business administration from the University of Chicago Booth School of Business. He holds the Certified Public Accountant designation.
Latest
Cenovus Acquires Husky Energy in All-Stock Deal
The transaction will align two integrated companies and reduce exposure to the heavy oil discount.
Fate of Canada's Pipelines Could Hinge on U.S. Election
The Keystone XL is more in question than the Line 3 replacement.
Oil Sands Will Survive and Then Thrive
The market does not appreciate their near-term resiliency nor the long-term cash flow potential.
Enbridge's Sell-Off Looks Exaggerated
The market is underestimating long-term cash flows once oil prices normalize.
We See Tremendous Long-Term Opportunity in Oil Sands
Cenovus Energy remains our top pick among the subsector.
Stay the Course Amid Enbridge's Volatility
The wide-moat firm's long and winding road should lead to significant upside.
Is Enbridge a Good Pick for Dividend Seekers?
The wide-moat firm has one of the most attractive dividends in the Canadian energy sector.
Will Pipeline Projects Take a Toll on Enbridge?
The wide-moat firm remains one of our top picks in the energy sector despite uncertainty associated with future mainline utilization.
New Permit Moves Keystone XL Forward
Our fair value estimates for TransCanada and Enbridge are unchanged.
Enbridge Hikes Dividend, Remains Deeply Undervalued
It has a wide moat and an attractive yield, and now's the time to invest.
The Best Dividend Opportunities in the Energy Sector
Oil and gas firms Enbridge and TransCanada both expect to grow their dividends through 2020 and 2021.
Energy: Oil Prices Remain Unsustainably High, With U.S. Shale Growth Still Looming
The market continues to underestimate the capacity of the shale industry to eventually throw oil markets back into oversupply.
Enbridge Is a Rare Triple Threat
Enbridge is seeking to acquire all public shares of its remaining sponsored vehicles--and we like the move.
Cenovus Sells Assets, Still A Bargain
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.
Strong Quarter for Undervalued Enbridge
We are maintaining our fair value estimates and wide moat rating for the firm.
Energy: Despite Geopolitical Wildcards, the Reckoning Is Still Coming for U.S. Shale Producers
The longer the delay, the worse the supply onslaught becomes.
Concerns About Enbridge's Dividend Are Overblown
The wide-moat company is on course to boost its dividend and offers hefty upside.
What the Market's Missing on TransCanada
The company offers a compelling midstream opportunity and a strong dividend yield.
This 4-Star, Narrow-Moat Firm Is a Top Pick in Energy
The market is overlooking the upside in TransCanada's healthy pipeline of growth opportunities.
Energy: Looming U.S. Shale Supply Should Temper Optimism
Huge output decline boosts near-term fundamentals, but lofty prices likely to trigger dangerous shale growth later.
Cenovus Is a Steal
We think the market is overreacting to the news of lower first-quarter production.
Expect More Dividend Growth for This Midstream Energy Firm
The market's underestimation of Enbridge's growth portfolio has created an appealing opportunity today.
Enbridge's Growth Portfolio Is Underappreciated
And the company continues to reward investors with annual dividend growth.
Energy: A False Sense of Security for Oil Markets
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.
4-Star Picks in the Energy Sector
Our top pick in Canadian energy is Cenovus Energy, and we like wide-moat Enbridge in the midstream sector.
Energy: All Roads Point to Oversupply in 2018
Nothing is certain in the world of oil, but a crude awakening for energy investors could be near.
Energy: Despite OPEC Cuts, a Crude Awakening Is Near at Hand
OPEC output cut extensions don't appear to be enough to balance the oil market.
The Market Is Missing Cenovus' Potential
The company's not getting enough credit for its SAP technology cost reductions and conventional production growth.
An Attractive Opportunity in Oil Sands
The market is overlooking the immense growth potential in Cenovus' reserves that can be brought on line with new, cost-lowering technology.
Energy: Coming Shale Growth a Major Threat to Oil Prices
Rapid U.S. production growth is looming and puts the nascent oil price recovery at risk.
Despite Trump Approval, Hurdles Remain for TransCanada
The narrow-moat firm's Keystone XL project still faces several obstacles.
Canadian Natural Resources Gets Bargain With AOSP Deal
The market isn't giving the company enough credit for the recent acquisition.
Oil Sands Producers Set to Become More Competitive
Next-generation solvent technology is lowering costs, and the long-term impact could be immense.
Energy: OPEC Adds a Plot Twist, but Ending Is Unchanged
Improved near-term fundamentals come at a cost.
Husky Energy Can Handle Low Oil Prices
We think the market is underestimating the Canadian firm's ability to generate cash flow in a low-energy price environment.
Energy: Rally in the Works, but It Won't Last Long
We expect a medium-term oil price rally in 2018 but remain bearish on long-term oil prices.
Spectra Deal Fortifies Enbridge
The deal allows the wide-moat energy company to diversify its operations toward natural gas while protecting its dividend growth.
Husky Is a Top Pick Among Major Canadian Integrated Firms
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.
These Sectors Are the Best in a Low Oil Price Environment
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.