Enerplus Corp (ERF.TO) Buy, Sell or Hold

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Daily Stock Opinions and Ratings

Enerplus Corp (ERF.TO)

26.78

-0.93 (3.36%)

as of Jun 3, 2024, 8:00:00 pm Market Open.

362 watching

BUY

(Market Call Minute.) Very well run. Pretty safe yield at these levels.

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COMMENT

In the current pricing environment, they are going to have difficulty sustaining their production. Well managed.

DON'T BUY

Prefers larger caps with a good source of funding and relatively low costs. Likely to see continued distribution cuts in some of the trusts’ area. Would prefer Arc Energy (AET.UN-T) although they are susceptible to distribution cuts. 11.25% yield.

BUY

(Market Call Minute.) Fantastic balance sheet. Good prospects going forward.

HOLD

(Market Call Minute.) Decent name. Did a good job of selling off some of its Jocelyn Creek oil sands but no immediate catalyst for the upside.

BUY

Very good name. One of the larger trusts. Has done very well in bringing on production. Diversity of projects such as coal bed methane and enhanced oil recovery. These trusts give a solid yield and it pays to hold onto them. You want to be in the ones that are going to be survivors and have good balance sheets.

DON'T BUY

He is picking away at trusts he likes and tries to Buy on weakness but would stay away from this one.

COMMENT

Just acquired Focus Energy Trust, a gas driven trust. Has exposure to the oil sands, which is good. Also has exposure to the Bakken area in Saskatchewan. Feels distributional is safe at the moment. There are others he prefers better.

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BUY

(Market Call Minute.) Good exposure to natural gas and with their purchase of Focus its a Buy.

BUY

60% gas/40% oil. Also have some oil sand exposure. Looking to sell their 15% Jocelyn asset, worth about $3 per share. Also developing their Kirby oil sands project. Over 10% yield.

COMMENT

(Market Call Minute.) You could be a buyer here, but he would be cautious. It will be one of the long-term survivors. Prefers the actual producer over the trust.

COMMENT

At the forward current strip he is quite comfortable with their distribution at today's levels. If there is a material downtick in oil and gas there might be some risk of a minor trim. This is one of the longest duration asset-base of the conventional oil/gas income trusts with a very high quality. This is his #1 oil/gas position.

HOLD

With most trusts, what has been supporting them has been the yield from distributions. Probably have 10% to 15% downside risk when they revert to a corporation. This is one of the older ones and has some prospects in the oil sands, but right now it is sort of stuck in the middle without a clear-cut strategy. Thinks it will do okay.

BUY

First oil/gas trust that was formed. 13 year reserve life. Recently has not performed as well as some of its competitors. Income will continue to be high. Given the nature of assets, management feels the best use of their cash flow is not to reinvest, but to pay out to its investors. Don't expect huge growth.

BUY

3 good balanced and diversified energy trusts would include Arc Energy (AET.UN-T), which is evenly weighted between oil and gas, Crescent Point Energy (CPG.UN-T) at about 78% oil and a great play in Saskatchewan or Enerplus Resources (ERF.UN-T) with oil sands and exposure. All 3 are excellent value right now.

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Enerplus Corp (ERF.TO)