Energy revival "certainly not over"

TDAM's Michael O'Brien expects cash-flow growth to fuel dividend increases and share buybacks.

Sonita Horvitch 28 May, 2014 | 6:00PM
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 Michael O'Brien, managing director at TD Asset Management Inc., says that although the stocks of Canadian energy producers have sprinted ahead in the year to date, many still have lots of room to run.

"This story is certainly not over; we could be at the beginning of the next leg of the upswing," says O'Brien, who manages Canadian large-cap portfolios using a GARP style, or growth at a reasonable price.

"Investor sentiment toward the oil patch this year is the polar opposite of what it was last year," he says, "when investors were rewarding the quick and dramatic growth in U.S. shale-oil production and souring toward the Canadian oil patch with the focus on its challenges with infrastructure bottlenecks."

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Sonita Horvitch

Sonita Horvitch  

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