Loeb recently told Third Point fund investors that shares of the oil and gas company could be 60 percent higher, and he outlined changes it could make to add value, such as spinning off its retail business or selling
its Canadian natural gas assets.
The company filled the gap with $ 7 billion in new
assets that went into service in the past year, including the expansion of the NGTL Pipeline and the
Canadian Mainline systems, as well as the Gibraltar, Rayne XPress, Leach XPress and Cameron Access projects in the U.S.
natural gas pipeline business.