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Boardwalk seems to be highly recommended by some analysts. (I know you're all going to tell me not to follow "expert" recommendations but I have to start my research from somewhere.)
Anyway, I've been going through the balance sheets on TSX. Boardwalk has $2350.43 million of liabilities for only $8.49 million of shareholder equity. The price to book is 184.63 and P/CF is 34.80.
Compare this to CWT.UN where there is $2621.24 million of liabilities for $1436.89 million of shareholders equity and the P/B is 0.87 and the P/CF is 5.9.
So again. What am I missing with Boardwalk? Is there something particular to this type of REIT that permits these type of debt to equity levels?
Anyway, I've been going through the balance sheets on TSX. Boardwalk has $2350.43 million of liabilities for only $8.49 million of shareholder equity. The price to book is 184.63 and P/CF is 34.80.
Compare this to CWT.UN where there is $2621.24 million of liabilities for $1436.89 million of shareholders equity and the P/B is 0.87 and the P/CF is 5.9.
So again. What am I missing with Boardwalk? Is there something particular to this type of REIT that permits these type of debt to equity levels?