BNPUF - Bonavista Energy Is Undervalued
Bonavista Energy (BNPUF) is one of the most unappreciated energy producers in the Canadian industry. The company is seen as having too much debt and suffering from low natural gas prices. While the company does have debt and is exposed to low prices at the AECO Hub in Canada, it is hard to say it is suffering.
In Q1 Bonavista reported cash flows of $69 million Canadian ($52 million) which was enough to pay for its first quarter capital outlays of $44 million Canadian ($33 million); pay its modest dividend and reduce debt. At the