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.) Too high a payout ratio.

COMMENT

Very good set of assets. As a big Cap X budget slated for 2008, which could create some balance sheet issues. Relatively high payout ratio will create some concerns on the sustainability of distributions.

BUY

A good producer with a solid track record. Distribution is good. With oil where it is and gas rising, this is not a bad place to be.

PAST TOP PICK

(Top pick Nov 14/06. Up 19%) Wouldn’t buy at this price, there are other trusts in the sector that are more attractive. 15% yield. Would be taking profits in it today.

SELL

Reasonable possibility of a distribution cut.

DON'T BUY

Concerned about balance sheet strength. Good operations team is making them a better oil/gas company going forward but payout ratio is too high and debt levels are something he is concerned about. Expect they will have a secondary issue of new units.

DON'T BUY

Payout ratio is over 90%, which gives them very little latitude. 16.5% yield may not be sustainable. Not attractive.

COMMENT

Good company, but he prefers Arc Energy (AET.UN-T) or Penn West Energy (PWT.UN-T).

COMMENT

One of the oldest and largest oil/gas income trusts. If they continue to be an acquirer, there may be the occasional bump in the unit prices. Own an above average quality oil/gas assets. Inter-listed with the US, which is an asset.

HOLD

Not a top tier trust, but has some good assets. He trades in and out depending on the price. Distributes about 80% of cash flow, which is high for him.

HOLD

This would be a Hold or Sell. Doesn't see a lot of growth in this name. Fairly highly levered and they may be forced to cut the distribution. Production has been stumbling a little bit.

PAST TOP PICK

(A Top Pick Oct 3/06. Down 6.0%.) Total return, including distributions, is actually up. Still likes.

PAST TOP PICK

(A Top Pick Nov 14/06. Up 13.5%.) That did after it had been crushed. Pretty much fully valued now.

COMMENT

One of the older oil/gas trusts. Historically has relied on acquisitions for growth. Have very good solid assets. Feels they can change to the drill bit instead of acquisitions.

SELL

Not his favourite. Too dominated by the oil side. Looks expensive compared to other oil/gas trusts. Heavily owned by US investors, who could sell off in a big way when they become aware of the tax implications.

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Pengrowth Energy (PGF.TO)