He's avoided utilities until recently. Has good price momentum and it's stable, but it's 16x PE is merely okay. AQN carries a fair bit of debt. He's neutral on AQN.

He's shorting it. It's too expensive vs. peers. It pays a good yield and has a good payout ratio. But he prefers CIBC and other peers.

Husky Energy is bidding for this at $11/share and trading at $8.01 today, so if the bid is approved, will a shareholder get that $11/share buying at $8.01? No, because it's not a cash bid, but a hostile one in shares at 0.57 shares of Husky. Meg is tracking Husky down. It's now trading at a 60-cent implied discount to the Husky bid. He expects this deal to go through. Meg is worth about $8.60/share in terms of Husky shares, then you'll end up owning shares of Husky, then you can decide what to do with them (hold or sell). So, you'd buy shares of Meg, short Husky and hope to pick up that 60 cents when the deal closes.

Its challenge is poor price momentum, especially during tax-loss selling season. However, its valuation is cheap, scoring in the top 5%. Trades at 6zx cash flow. Not a growth stock anymore. But at this price, it's good. It pays 9% dividend yield with a 78% payout ratio. Don't sell it here; it's too cheap.

He's neutral. Good ROE and good balance sheet, but no real yield. It's in no-man's land for him.

Has a small short, because its price momentum has rolled over. It's a growth stock. Valuation with high 29% ROE. Fine balance sheet. Made their last quarter. To get more interested in this, he wants to see better price momentum.

CP vs. CN He likes and owns both. You're good to own either. Crude by rail is a tailwind. CP: great price momentum and valuation; it ranks in the top 25% of all stocks for him. CN: Almost the same, also in the top 25% and scores slightly better than CP.