Pengrowth Energy (PGF.TO) Buy, Sell or Hold

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Daily Stock Opinions and Ratings

Pengrowth Energy (PGF.TO)

0.06

-0.00 (0.00%)

as of Jan 9, 2020, 9:00:00 pm Market Open.

120 watching

HOLD

(Market Call Minute.) Just cut their distributions. Cutting back on CapX/production guidance.

COMMENT

Has been hit with the massive move down of oil and natural gas. Will be under a little bit of pressure because they are close to 100% payout ratio and will probably have a distribution cut at current commodity prices. Some of their light oil prospects are very, very good.

DON'T BUY

Evenly balanced between oil and gas. Properties in Western Canada and Nova Scotia. Because of the lower commodity prices, he would worry about a cut in distributions. There are other names with better balance sheets and payout ratios.

BUY

Will make it through but might cut its distribution little bit, which is already priced in. You'll still get a nice healthy yield. A lot of insider buying.

BUY

It’s a solid company. Distribution is safe, but what if 6 months from now oil is $50 a barrel and if this happened they would have some problems, but they are the strongest of the sector.

BUY

Added to the position recently.

HOLD

Higher payout ratio and have worked hard to bring it down. Likes its enhanced oil recovery. Not his favourite.

HOLD

One of the original oil/gas trusts. Not bearish on oil/gas, so would continue to Hold.

WAIT

Fundamentally what is backing up energy stories is still very much intact. A big believer in energy. In the next week or two, there could be a little pullback, which will give you great entry points.

DON'T BUY

This was the trust that had a good start early on and was able to acquire some very good assets. More recently they have had some difficulty in maintaining their production. Had a policy of paying out more than they earned, which required more borrowing or underwriting. Prefers others.

SELL

(Market Call Minute.) Has struggled even in a high commodity price environment.

DON'T BUY

Payout ratio on a relative basis to their peers is quite high. Also carry a bit higher than normal debt. Good assets. Would Prefer Arc Energy AET.UN-T), Crescent Point (CPG.UN-T) or Vermilion Energy (VET.UN-T).

HOLD

(Market Call Minute.) Too high a payout ratio. Needs to right size its distribution.

COMMENT

This is a trust with a wealth of opportunity. Some enhanced recovery plays, some oil sands potential and coal bed methane. He has been critical because of their consistently high payout strategy. Prefers to be more conservative with his income investments.

DON'T BUY

Like a lot of the senior trusts, he worries about the sustainability of the growth and therefore the distributions. If you take payout plus capital sustainability it is over 100%. You just can't do that. What is keeping them on side for now is higher energy prices.

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Pengrowth Energy (PGF.TO)