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ARK.V 0SGD.V 0.46AEM.TO -4.78MEQ.TO -1.05TRI.TO 2.93KKR 1.49CGI.TO -0.09KINS -0.06
Daily Stock Opinions and Ratings
Stockchase Opinions

Michael Simpson, CFAHarvest Energy TrustHTE.UN.TODON'T BUYNov 20, 2008

Oil and gas. Have a refinery in Newfoundland. Results in Q3 surprised analysts on the upside by refining margins. Debt levels are above his comfort level. Payout ratio is also high. Can't see distributions being sustainable.
Michael Simpson, CFAMichael Simpson, CFA
No
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$11.53

Stock price when the opinion was issued

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SELL

Harvest Energy Trust(HTE.UN.TO)

Dec 14, 2009
Korea National Oil Company have offered to acquire but will be subject to government approval. If you own and have a nice profit and are close to the bid, Sell and that the arbitrageurs take the risk.
Photo of Sandy McIntyreSandy McIntyre
No
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$9.93

Stock price when the opinion was issued

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COMMENT

Harvest Energy Trust(HTE.UN.TO)

Nov 27, 2009
Being acquired by Korea National Oil. A lot of people are not happy with the price agreed to.
Photo of Michael SprungMichael SprungUnlock Rating
$9.87

Stock price when the opinion was issued

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COMMENT

Harvest Energy Trust(HTE.UN.TO)

Oct 14, 2009
Sharply penalized because of narrow margins on the refinery side. Margins have been coming back. There are other companies that have more stability in the group but they have been doing better on both sides of their operation and that should continue. 8%+ yield.
Photo of Michael SprungMichael SprungUnlock Rating
$7.08

Stock price when the opinion was issued

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DON'T BUY

Harvest Energy Trust(HTE.UN.TO)

Oct 13, 2009
Their payout is not very high but their debt is. The debt will become due in about 1 year. They'll probably do another equity issue so she wouldn't be surprised if they cut the distribution.
Photo of Laura LauLaura Lau
No
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$7.05

Stock price when the opinion was issued

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HOLD

Harvest Energy Trust(HTE.UN.TO)

Oct 05, 2009
(Market Call Minute.) Would hold the stock but by the convertible debentures.
Photo of Robert LauzonRobert LauzonUnlock Rating
$6.65

Stock price when the opinion was issued

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DON'T BUY

Harvest Energy Trust(HTE.UN.TO)

Oct 02, 2009
Conventional oil/gas production in Western Canada and refining in Newfoundland. Had taken on a lot of debt to acquire the refinery and refining margins have not been good. Doesn't see this changing for while. Changeover in 2011 is another challenge and they have their work cut out for them.
Photo of Jim HuangJim HuangUnlock Rating
$6.56

Stock price when the opinion was issued

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COMMENT

Harvest Energy Trust(HTE.UN.TO)

Sep 14, 2009
As with many of the trusts, there is a risk that the 9.6% yield could be cut going into 2011. Their refinery business has been quite challenging.
Photo of Joanne A. Hruska, CFAJoanne A. Hruska, CFA
No
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$6.40

Stock price when the opinion was issued

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DON'T BUY

Harvest Energy Trust(HTE.UN.TO)

Sep 11, 2009
Hasn't participated in the upside. Cheap, but for a reason. Refining operations will continue to be challenged and the upstream operations have never been stellar. Ugly balance sheet.
Photo of Michele RobitailleMichele Robitaille
No
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$6.27

Stock price when the opinion was issued

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COMMENT

Harvest Energy Trust(HTE.UN.TO)

Sep 04, 2009
One of the few companies that has a refinery and have done quite well on the refinery margins. Has been playing this through the convertible bonds, which he thinks is a better way of playing it.
Photo of Jaime CarrascoJaime Carrasco
Owned
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$5.86

Stock price when the opinion was issued

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DON'T BUY

Harvest Energy Trust(HTE.UN.TO)

Aug 13, 2009
(Market Call Minute.) Some potential for them but it is getting late in the day for energy trusts and he is nervous about their payouts.
Photo of Ross HealyRoss HealyUnlock Rating
$6.70

Stock price when the opinion was issued

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SELL

Harvest Energy Trust(HTE.UN.TO)

Jul 24, 2009
Doesn't see a lot of upside so he would be comfortable Selling it. Took on a lot of debt to buy the refinery in Newfoundland.
Photo of John StephensonJohn StephensonUnlock Rating
$5.62

Stock price when the opinion was issued

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COMMENT

Harvest Energy Trust(HTE.UN.TO)

Jul 10, 2009
When he gets into an energy stock, he wants to see a profile of some growth to protect the dividends going forward. (See Top Picks for an alternative.)
Photo of Rick StuchberryRick StuchberryUnlock Rating
$5.61

Stock price when the opinion was issued

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DON'T BUY

Harvest Energy Trust(HTE.UN.TO)

Jun 29, 2009
1st quarter on the refining side was very profitable. Debt is high. Need to do capital expenditures on their refinery. Much higher risk than others.
Photo of Glenn MacNeill, P.Eng.Glenn MacNeill, P.Eng.
No
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$6.40

Stock price when the opinion was issued

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DON'T BUY

Harvest Energy Trust(HTE.UN.TO)

Jun 24, 2009
Last quarter had reasonably decent numbers. Downstream was reasonably strong. Likes management but has trouble seeing why you would want to buy this name right now. Thinks it will survive bankruptcy. Refining seems to be in a secular decline.
Photo of John StephensonJohn StephensonUnlock Rating
$6.20

Stock price when the opinion was issued

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COMMENT

Harvest Energy Trust(HTE.UN.TO)

Jun 05, 2009
One of the riskier oil/gas income trust. Huge refinery in the Maritimes. Plant was upgraded and is good. The refinery can swing earnings around significantly. Oil and gas operations have not been that great. Likes the yield of 8.6%. Doesn't expect it to go back to its high levels of a couple of years ago.
Photo of David CockfieldDavid Cockfield
Owned
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$6.90

Stock price when the opinion was issued

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We paraphrase the experts by hand, we watch the shows and write down what we understood from the experts’ comments. We are human and can make mistakes, help us fix any errors. If you see something that you know is not right or if there is a problem with the site, feel free to email us at: [email protected].

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