Most actively traded companies on the Toronto Stock Exchange

TORONTO — Some of the most active companies trading Friday on the Toronto Stock Exchange:

Toronto Stock Exchange (20,581.58, up from 244.37):

Suncor Energy Inc. (TSX:SU). Energy. An increase of 68 cents, or 1.44 percent, to $47.97 on 21 million shares.

Enbridge Inc. (TSX:ENB). Energy. An increase of 27 cents, or 0.51 percent, to $52.83 on 13.2 million shares.

Manilife Financial Corp. (TSX:MFC). Finance. An increase of 23 cents, or 0.85 percent, to $27.38 on 12 million shares.

Canadian Natural Resources Ltd. (TSX:CNQ). Energy. An increase of $1.70, or 2.12 percent, to $81.86 on 9.3 million shares.

Baytex Energy Corp. (TSX:BTE). Energy. An increase of 18 cents, or 3.30 percent, to $5.64 on 8.7 million shares.

Athabasca Oil Corp. (TSX:ATH). Energy. An increase of four cents, or 1.27 percent, to $3.19 on 8.5 million shares.

Companies in the news:

SNC Lavalin Group Inc. (TSX:SNC). An increase of 39 cents, or 1.34 percent, to $29.39. SNC Lavalin Group Inc. is eyeing an asset sell-off as the company continues to pivot away from costly fixed-price construction contracts and tighten its game as a pure engineering firm. SNC will conduct a strategic review to optimize its portfolio of companies, CEO Ian Edwards told analysts during an earnings call on Friday. He highlighted Linxon, a joint venture with Hitachi Energy that focuses on electrical substations. He also pointed to the company’s capital segment, which includes a seven percent stake in the 407 toll road near Toronto. As it gets rid of its fixed-price contracts and improves free cash flow, the importance of the 407 may diminish, Edwards said. The engineering firm reported a loss of $54.4 million from continuing operations for the quarter ended Dec. 31, compared to a loss of $15.3 million in the final three months of 2021.

Parkland Corp. (TSX:PKI). An increase of 19 cents, or 0.64 percent, to $29.94. Parkland Corp. is not going ahead with its plan to build a standalone renewable diesel complex at its Burnaby, BC refinery, in part because the company believes new U.S. legislation will give an advantage to producers south of the border. The Calgary-based fuel retailer had announced a plan in May 2022 to build a self-contained renewable diesel complex within its Burnaby refinery, capable of producing 6,500 barrels per day. The proposed facility, which was expected to cost about $600 million and would have been funded in part by the BC government, would have used renewable feedstocks such as canola oil and used cooking oil to make low-carbon fuel. But the company said Friday it was canceling the project due to rising project costs, a lack of market certainty around renewable fuels, and specifically the passage of US President Joe Biden’s Inflation Reduction Act, which provides significant financial subsidies. to producers of renewable fuels in that country.

Suncor Energy Inc. — Suncor Energy Inc. has taken another step towards streamlining its operations by signing an agreement to sell its North Sea offshore assets to Equinor UK Ltd. in an agreement worth approximately $1.2 billion. The deal, announced late Thursday, comes after Suncor put the assets up for sale last year. The deal includes Suncor’s unexploited 29.9 percent interest in the producing Buzzard field, as well as its 40 percent interest in the Rosebank development, which is operated by Norwegian multinational Equinor and located approximately 80 miles northwest of the Shetland Islands is located. The transaction is expected to be completed by the middle of this year.

This report from The Canadian Press was first published on March 3, 2023.

The Canadian Press