Harvest Energy Trust (HTE.UN.TO) Buy, Sell or…

Harvest Energy Trust (HTE.UN.TO)

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BUY

It not only produces oil/gas, but also has a refinery in Come By Chance, Newfoundland. Unfortunately the timing was just when the trusts got hit. Likes refining business.

DON'T BUY

Recently acquired Viking Energy. Recently purchased a heavy oil gas refinery in Newfoundland. Feels they are taking on a bit more than they can chew.

SELL

Higher debt levels then he likes. Recently purchased a refinery in Newfoundland and have had financing problems because of the governments ruling. Grown by acquisitions.

BUY

A great name. Acquired a refinery, which created a lot of chaos in re-pricing the issue. High yield.

DON'T BUY

Acquired a refinery in Newfoundland. Not big fans of a trust owning a refinery because profit and cash flow are quite cyclical. Have raised capital through a debenture and equity issue and will have to raise more.

DON'T BUY

Recently acquired a refining facility in Newfoundland. This puts a risk dynamic into it that wasn't there before. With the fall of crude, the crack spread has fallen off fairly dramatically. 14% yield.

HOLD

Had been concerned about it. More recently have got their balance sheets in better shape. Reasonably hopeful they can keep their distributions up. 14% yield.

HOLD

Acquiring North Atlantic Refining. A little concerned about them. Payout ratio is fairly high. Wouldn't buy at this time.

BUY

Purchased a refinery in Newfoundland and the earnings should be accretive. Distributions should remain stable for the foreseeable future. 14.5% yield.

HOLD

In pretty good shape re distributions to cash flows. Payout is very good, relative to the stock price. Wouldn't buy at this time.

WAIT

Recently purchased a refinery in Newfoundland. Becomes the first trust to become an integrated. Bought it very cheaply. Probably need about $700 million in equities, so wait on the new issue before buying.

DON'T BUY

An oil weighted trust. Has a higher degree of leverage then he likes to see. Purchased a refinery in Newfoundland, which is a totally new area for them. Gasoline prices have decreased which shows the risks involved. Needs to raise about $7 million equity so there will be a lot of stock coming to the market in the next few months.

DON'T BUY

Acquired Come by Chance refinery in Newfoundland. Right now, refineries are generating good cash flows but it is even more of a volatile industry than oil/gas. Would be concerned about future volatility. They need a unique set of skills to bring on board for refinery activities.

HOLD

Bought a refinery in Newfoundland. Very high yield of almost 14%. Payout ratio has come down. Have a lot of undeveloped land. On his radar screen.

DON'T BUY

A pretty unique management team. Took a fairly hairy bunch of assets and did a fantastic job with it. Has a problem with energy trusts longer term as they tend to have a production tail that will taper.

Showing 91 to 105 of 141 entries

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Harvest Energy Trust (HTE.UN.TO)