Q: What do you make of the price action of tve over the last couple of days?
5i Research Answer:
TVE has been consolidating since late 2022, and we attribute much of this to the underlying price of oil ranging from ~$80 in late 2022 to where it is today, just less than $70. While TVEs fundamentals are solid, and it pays a good yield of 4.6%, a lot will depend on the price of oil and we feel that if oil can stabilize around these levels, TVE could see its share price supported. TVE trades at 4.0X forward earnings and 0.9X book, a cheap valuation, all things considered.