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Pengrowth Energy Trust (B)
PGF.B-T
Analysis and Opinions about PGF.B-T
Signal
Opinion
Expert
DON'T BUY
DON'T BUY
January 6, 2006
They haven't moved to the more sustainable model of an income trust in the energy sector. There has been a dramatic shift of payout ratios trending very strongly downwards.
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They haven't moved to the more sustainable model of an income trust in the energy sector. There has been a dramatic shift of payout ratios trending very strongly downwards.
HOLD
HOLD
A well run company. A fairly safe place to be.
DON'T BUY
DON'T BUY
December 2, 2005
One of the original income trusts in Canada. In the last few years, it has not been doing as well, as some of its peer group. It still looks at itself is very much in the financial engineering mode where there has been a broad shift to growth through the drill bit. Had some stumbles.
Show full opinionHide full opinionOne of the original income trusts in Canada. In the last few years, it has not been doing as well, as some of its peer group. It still looks at itself is very much in the financial engineering mode where there has been a broad shift to growth through the drill bit. Had some stumbles.
BUY
BUY
November 30, 2005
Has fairly high cost production because its 2 largest properties have higher production costs. Represents reasonably good value.
Show full opinionHide full opinionHas fairly high cost production because its 2 largest properties have higher production costs. Represents reasonably good value.
DON'T BUY
DON'T BUY
October 18, 2005
Has not been as sustainable in their production as others. Has not heard the rumours that the A & B stocks will be merged.
Show full opinionHide full opinionHas not been as sustainable in their production as others. Has not heard the rumours that the A & B stocks will be merged.
WEAK BUY
WEAK BUY
September 2, 2005
Hasn't been a favourite of the street. Being undervalued by the market place. Good longer term assets out there. Not his favourite.
Show full opinionHide full opinionHasn't been a favourite of the street. Being undervalued by the market place. Good longer term assets out there. Not his favourite.
VAGUE
VAGUE
August 26, 2005
Been around a long time. There are better oil and gas trusts out there.
Show full opinionHide full opinionBeen around a long time. There are better oil and gas trusts out there.
DON'T BUY
DON'T BUY
May 20, 2005
This one is a difficult situation for investors. A long term royalty trust, but hasn't kept up with its peers. A lttle bit late in moving to the newer model of holding back more of your cash and pay out less. Have had rising operating costs. Had some management changes. Better choices available.
Show full opinionHide full opinionThis one is a difficult situation for investors. A long term royalty trust, but hasn't kept up with its peers. A lttle bit late in moving to the newer model of holding back more of your cash and pay out less. Have had rising operating costs. Had some management changes. Better choices available.
WEAK BUY
WEAK BUY
April 29, 2005
One of the older trusts. Pays an exceptionally high return at about 15.5%. Had some positive management changes recently. Not on their radar screen.
Show full opinionHide full opinionOne of the older trusts. Pays an exceptionally high return at about 15.5%. Had some positive management changes recently. Not on their radar screen.
HOLD
HOLD
Not one of his favourites. A little expensive.
SELL
SELL
April 8, 2005
Royalty trusts have come down in valuation versus corporations, so they're looking somewhat better on a relative value. Tjis one is not a favourite. Has a higher payout ratio than a lot of the others so it has a somewhat higher cost base. Prefers trusts with a lower payout ratio so they can grow organically.
Show full opinionHide full opinionRoyalty trusts have come down in valuation versus corporations, so they're looking somewhat better on a relative value. Tjis one is not a favourite. Has a higher payout ratio than a lot of the others so it has a somewhat higher cost base. Prefers trusts with a lower payout ratio so they can grow organically.
DON'T BUY
DON'T BUY
February 18, 2005
One of the traditional royalty trusts and management looks at it as primarily and engineering vehicle that will replace reserves through acquisitions. Feels that the newer model is moving away from that by having smaller payout ratios and grow more through drilling. Have lightened up on this trust significantly.
Show full opinionHide full opinionOne of the traditional royalty trusts and management looks at it as primarily and engineering vehicle that will replace reserves through acquisitions. Feels that the newer model is moving away from that by having smaller payout ratios and grow more through drilling. Have lightened up on this trust significantly.
DON'T BUY
DON'T BUY
January 14, 2005
Not what he would refer to as a sustaining model. Take its cash flow, pay out distributions and figure out your money for capital expansion, it is paying out 120/130% of its cash flow.
Show full opinionHide full opinionNot what he would refer to as a sustaining model. Take its cash flow, pay out distributions and figure out your money for capital expansion, it is paying out 120/130% of its cash flow.
DON'T BUY
DON'T BUY
December 30, 2004
A $6/7 spread between the "A" shares and the "B" shares because of government ruling on US ownership. Management hasn't done a great job in running these trusts. If you buy, buy the "B" which is cheaper as they may discontinue the US one.
Show full opinionHide full opinionA $6/7 spread between the "A" shares and the "B" shares because of government ruling on US ownership. Management hasn't done a great job in running these trusts. If you buy, buy the "B" which is cheaper as they may discontinue the US one.
HOLD
HOLD
December 15, 2004
Prefers others, but this trust, through good times and bad, has managed to do a good job at acquiring assets and keeping the distribution going.
Show full opinionHide full opinionPrefers others, but this trust, through good times and bad, has managed to do a good job at acquiring assets and keeping the distribution going.
