Perpetual Energy (PMT.TO) Buy, Sell or Hold

Perpetual Energy (PMT.TO)

0.40

-0.01 (2.47%)

as of Nov 4, 2024, 7:42:34 pm Market Open.

27 watching

BUY

A good mid/long-term (6/12 months) hold. A shallow gas type of trust. You won't see a big pop in it right away. One of the better, lower cost trusts.

DON'T BUY

Almost 100% natural gas. Has hedged some of its production into 2008. We are going into 3/4 months of fairly weak gas prices. Has a higher payout ratio at about 80%. Rumours of distribution being cut.

HOLD

100% natural gas. There has been a substantial decline in natural gas prices in the last 6 months. At $6 MCF we are probably near the bottom. If normal weather pattern's return, the demand will go substantially higher.

DON'T BUY

Not his favourite trust. Prefers the multibillion$ oil/gas income trusts.

DON'T BUY

Has not been holding its own. Off 9/10% this year. Has a short reserve life. One of the casualties of the high grading of the income trust market. Good yield at 14.5%, but a riskier trust.

WEAK BUY

For the braver investor. It will be quite volatile. Payout ratios quite high. Have some assets with very high decline rates and their efficiency numbers in replacing some of those reserves has not been great. Have put a lot of money into drilling this winter which gives it some potential for some very good news to come out in Q1.

BUY

This has hedged 47% of its production at $10 or more. Very clean balance sheet. Huge land base.

DON'T BUY

Would put this in the middle of the range of energy trusts. Fairly valued right now and would prefer at a lower price.

DON'T BUY

Paramount Energy Trust has done a good job over the years of maintaining production with a short RLI asset base. He has been bearish on gas for the past few months and this is 100% gas weight. Not in his portfolio but will own it at the right time. He likes Penn West, it is his third largest holding . It is an oil and gas trust with a great reservoir.

DON'T BUY

The reserve life index is very short at about five years where the average is about nine years. This leaves very little room for error.

DON'T BUY

Has had some past issues with the Alberta, particularily with their production around the oil sands. For a natural gas play, would prefer a Focus Energy (FET.UN-T) which has a much longer reserve life index.

BUY

100% natural gas. Raised the distribution and with their hedging can continue the increase through to 2007. Management has a long history in oil/gas and he really likes them.

DON'T BUY

He is currently shorting. Has gas exposure. Doesn't think it's going much lower, but thinks it will underperform the other gas weighted trusts.

HOLD

High payout ratio. Likes the assets, but have suffered a bit over the gas over bitumen issue. Very gas orientated which has good prospects in front of it.

BUY

Has a good sustainablility of its distribution plus its cap ex. The 2nd quarter was in line with analysts estimates. Mainly gas. Reasonably priced.

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Perpetual Energy (PMT.TO)