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Enbridge Inc. (ENB $63.73)
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TC Energy Corporation (TRP $66.76)
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iShares S&P/TSX Capped Energy Index ETF (XEG $17.30)
Q: Hi, TRP and ENB had a bad day with both stocks declining 2.5%, by close. There was no specific news for either company. Oil was weak today and price dropped about $2.50-$3, during course of the day.
My understanding is that movement in oil prices has no direct impact on these stocks, in a meaningful way. XEG, on the other hand was down just less than 1%. Was TRP/ENB drop unusual ? Thanks
My understanding is that movement in oil prices has no direct impact on these stocks, in a meaningful way. XEG, on the other hand was down just less than 1%. Was TRP/ENB drop unusual ? Thanks