AvenEx Energy Corp (AVF.TO)

BUY
A growth trust. Will probably be a spinout of the real estate next year. Drop in June was the dividending out of another trust. Also fell with other trusts. Yields about 14%. Just came out with some real estate development giving 11% return. Payout is only 75%. Extremely attractive price.
DON'T BUY
Oil/gas drilling and exploration. More into heavy oil, which gets hit the hardest when there are energy concerns. Has been punished severely.
BUY
Impacted by the trust tax ruling. Reported good numbers. Part oil/gas, part real estate and part financial services. Recently made some real estate purchases and with another one, they could probably spin off a REIT, which is what they planned to do. Oversold.
BUY
Likes their diversity. Have oil and gas exposure along with some real estate, particularly in western Canada. Have shown an ability to grow distributions. Aggressive management. Good track record of accretive acquisitions.
BUY
In a buy range. Diversified with some oil, some gas, some real estate and financial services. Very low payout ratio.
PAST TOP PICK
(A Top Pick July 5/06. Up 10.3%.) Dividended out its energy services and the rest of the company, some real estate, some financial and 2 thirds oil/gas production was undervalued. 11% yield.
BUY
Has holdings in oil and gas, real estate and financial services. Feel that their assets are undervalued. Management has a very strong track record in making acquisitions.
WAIT
Part oil/gas producer and part Alberta real estate and part Alberta lending business. With all those things, it has an asset value of about $14. Went up very fast, so wait to see if it has a natural pullback before buying. 10% yield.
BUY
They dividended out their energy services side which is the reason for the big drop in price. Still likes. Trying to grow the real estate side and will probably dividend that out in a year or two. Under $9 it's a good price.
TOP PICK
A diversified trust consisting of an oil/gas producer, real estate division and financial services lending side. Also had an energy division which they spun out in the form of a new business. Stock dropped off after the spin off. About an $11 NAV. Making a lot of money.
WEAK BUY
Chart shows a precipitous drop, but this is the result of them spinning out a division. Excellent management with a lot of their own money in it. Yield should be safe, but shouldn't be a core holding.
TOP PICK
They dividended out their energy services side, Essential Energy Services (ESN.UN-T) and paid it in the form of a stock dividend. This was the amount the stock dropped by. Expect they will do the same with their other groups. A good entry point.
DON'T BUY
Spinning off oil/gas assets into an income trust, Essential Energy Services, and is a wise move. Have to be careful with this one.
BUY
This is a diversified trust. He likes it and it was a previous pick. Buy under $13.00.
BUY
70% energy with a little bit of real estate and financial services. Good set of assets in western Canada. Some production growth. Trading at a discount to its asset value of $14. Low $12’s is pretty good value.
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