| Comment | 29.850 | Bruce Campbell | (Arc Energy (AET.UN-T) versus Crescent Point (CPG.UN-T).) Less growth but a higher yield. Well managed enough that they have solid prospects. | 2008-08-18 | |
| BUY | 28.810 | Sandy McIntyre | Have a very good position in the hot gas play in the Montne. Just pulled the best well recorded in that area. Top tier management. | 2008-08-15 | |
| TOP PICK | 28.770 | David Cockfield | Like sit under $30. Thinks oil and gas will stabilize. This one is in both the Montney and Bakken areas. 11% yield. | 2008-08-01 | |
| BUY | 29.350 | John O'Connell, CFA | (Market Call Minute.) Likes the story. Trading at a pretty rich valuation. Prefers Encana (ECA-T). | 2008-07-31 | |
| BUY on WEAKNESS | 31.090 | Glenn MacNeill, P.Eng. | Like this a lot. Just increased its capital expenditure program which will go to good use. Exposure in the Montney region. Has land/opportunities in great areas. | 2008-07-18 | |
| BUY | 30.220 | Veronika Hirsch | (Market Call Minute.) Trusts are probably not a bad way to weather the uncertainty in the oil market. | 2008-07-17 | |
| BUY | 33.300 | Neil Wickham | Signed an agreement with the Alberta Research Council on carbon capture storage. The large amount invested cuts into the profits available for shareholders. Expect it will continue to be a pretty good performer. | 2008-07-14 | |
| BUY | 31.460 | David Burrows | 9.5% yield. A stable producer that has become a growth producer and, as a result, the price will move higher and the yield comes into line with other growth trusts. | 2008-07-11 | |
| PARTIAL SELL | 32.880 | Andrew Cook | Some of these stocks could correct another 10%-15%. From a longer-term perspective, he likes this one quite a bit. Have a significant exposure in the Monte area of B.C., which is a big resource play and will underpin some strong growth. 2010 and 2011 are very positive for the company. | 2008-07-02 | |
| TOP PICK | 31.000 | David Cockfield | Distribution of over 9%. Gas people are just making money hand over fist. This company is one of the best in the industry. Also have 140 sections in the Montney, which gives them some long-term hits. Expect distributions will be increased. | 2008-06-20 | |
| BUY | 31.560 | Ron Meisels | 10% distribution. Quite a bit above its 200-day moving average. | 2008-06-19 | |
| BUY | 29.500 | Peter Brieger | (Market Call Minute.) | 2008-06-04 | |
| HOLD | 30.580 | Bruce Campbell | (Market Call Minute.) One of a nice, but larger, slower growing trusts but you can get a nice yield on it. | 2008-05-26 | |
| BUY | 30.180 | David Burrows | Alternative to BCE. Horizontal fracturing stimulates wells that were not economic previously. Increasing production but priced as if flat production, so could rally, plus a good yield. Not a on year deal, but good total return. | 2008-05-22 | |
| HOLD | 30.700 | Glenn MacNeill, P.Eng. | (Market Call Minute.) Hold at this point in time. | 2008-05-16 | |
| BUY on WEAKNESS | 29.120 | Michael Simpson, CFA | 50/50 oil and natural gas. Had a dramatic run-up and at these levels would be a Hold but a Buy on a pullback. Some excellent natural gas plays in the Montney play in northeast B.C. Also have an opportunity for a CO2 flood in their Alberta fields. Great management and very strong Q1 results. | 2008-05-14 | |
| PAST TOP PICK | 27.910 | Kevin Hall BComm, CFA | (A Top Pick July 11/07. Up 36%.) This is one of those core holdings that you want to have in your portfolio for energy exposure. Good holdings in the Montney B.C. play. | 2008-05-06 | |
| HOLD | 26.150 | David Cockfield | (Market Call Minute.) Likes the stock. Has had a pretty good run. | 2008-04-24 | |
| TOP PICK | 27.210 | Ben Cheng | Payout ratio is well within his acceptable limits. Through good and bad times, management has consistently added value to the company. Benefiting from the tight gas exposure in the Montney play in B.C. | 2008-04-16 | |
| Comment | 24.390 | Michael Sprung | One of the better energy trusts in the oil patch. Continue to have results that surprise the market on the upside. Fairly solid play. Very good properties and very good reserve replacements. Getting a little pricey now, but for longer-term holders it should be OK. | 2008-03-05 | |
| TOP PICK | 23.400 | Joanne A. Hruska, CFA | Her most favourite trust for 2008. Close to 50/50 on oil and gas. 10% yield. Management has a history of under promising and over delivering. Good entry point. | 2008-02-22 | |
| HOLD | 22.840 | Norman Levine | Probably one of the best energy income trusts out there. | 2008-02-11 | |
| BUY | 21.750 | Andrew Guy, CFA | A sustainable business model in the energy area where they retain a certain amount of their cash flow to continue to do the development drilling in order to maintain production. Nicely balanced between oil and gas. | 2008-02-06 | |
| BUY | 22.180 | Dean Orrico | Very well run business. Conservative management team on a relative basis. Well positioned to replace production this year and maintain current distributions. | 2008-01-29 | |
| BUY | 20.250 | Michael Simpson, CFA | 3 good balanced and diversified energy trusts would include Arc Energy (AET.UN-T), which is evenly weighted between oil and gas, Crescent Point Energy (CPG.UN-T) at about 78% oil and a great play in Saskatchewan or Enerplus Resources (ERF.UN-T) with oil sands and exposure. All 3 are excellent value right now. | 2008-01-22 | |
| BUY | 20.000 | Ben Cheng | Very solid management team. Had very positive news out of their NE BC properties. Undervalued. Should remain as one of the premier mid-cap E & P companies in Canada. | 2008-01-21 | |
| HOLD | 21.000 | Peter Brieger | (Market Call Minute.) This is a long-term hold. | 2008-01-11 | |
| BUY | 20.500 | Norman Levine | (Market Call Minute.) One of the best energy trusts out there. | 2008-01-07 | |
| BUY | 19.240 | Joanne A. Hruska, CFA | (Market Call Minute.) Among the strongest management team and the trusts. They will carry on no matter what happens in the royalty trust world. Good asset base. | 2007-12-05 | |
| BUY | 18.900 | Norman Levine | Historically has been a good trust because of quality of management and assets. The high Cdn$ and the new Alberta royalty regime has hurt. It is a winner. Great buying opportunity for a 3 to 5 year horizon. | 2007-12-03 | |
| BUY | 19.170 | Michele Robitaille | Have about a 50-50 split between oil and gas. Good track record of value appreciation over the long term. 13.2 years reserve life index. Very strong technical team. Great place to be if you have a long-term time horizon. Thinks distribution is safe. | 2007-11-28 | |
| Comment | 19.100 | Paul Thornton | (Market Call Minute) A tough one. You may want to hold, but be aware of cuts in distributions in the natural gas group. | 2007-11-21 | |
| HOLD | 19.680 | Michael Decter | Would be a little cautious about adding to it here. If we have any kind of a winter at all, natural gas prices should find a base and move up. Distributions should be reasonably safe. | 2007-11-12 | |
| BUY | 20.110 | Michael Simpson, CFA | A very good oil/gas company. | 2007-11-08 | |
| HOLD | 20.690 | Bill Carrigan | He likes the gassy trusts over the oily ones. It has a very long base. Had its low last November and had a higher low this August. It looks okay; just don't let it go down below the August low. | 2007-10-10 | |
| BUY | 20.750 | Michele Robitaille | One of the core names in the oil patch. High quality management team. Strong technical focus and good history of delivering value added results. Expect there will be softness on gas prices. | 2007-10-03 | |
| BUY | 20.310 | Patrick Kim | A great long-term core holding. When you're looking for energy exposure, this will be one of the long-term stable names. Have a fantastic asset base. One of the few that have been lowering their costs of operations. | 2007-09-21 | |
| WAIT | 20.490 | Alex Ruus | Arc Energy (AET.UN-T) and Penn West (PWT.UN-T) are probably 2 of the better trusts with some of the best quality assets and the 2 biggest owners in the Pembina oilfield. If you are a bull on long-term oil prices, these are one of the better places to be | 2007-09-04 | |
| HOLD | 20.390 | Michael Sprung | Half oil, half natural gas. For valuation, it's okay at the moment. Doesn't see any compelling reason to purchase at this moment. Yield of around 12%. Production profile is pretty stable. Reserve life index is around 10 years. Distribution is relatively | 2007-08-31 | |
| WAIT | 19.980 | Michele Robitaille | Has gotten very cheap. Going into the shoulder season with oil prices so you don't need to be in a big rush. Towards the beginning of November would be a great time to be moving into these oil/gas names. | 2007-08-23 | |
| BUY | 19.980 | Peter Brieger | Price to cash flow is very favourable relative to others. Also, price to NAV is favourable. | 2007-08-14 | |
| HOLD | 20.100 | Sandy McIntyre | Great company that pays a double-digit yield of 12%. One of the finest developers of oil/gas properties. | 2007-08-13 | |
| BUY | 20.100 | John Stephenson | Conservatively managed trust. Has good upside. Good balance sheet. Nice mix between oil and gas. CO2 flooding potential. | 2007-08-08 | |
| BUY | 20.100 | Gavin Graham | Has not recovered since the October 06 bombshell. They grow by the drill bit, not by the chequebook. Conservative management. Almost 12% yield. | 2007-08-08 | |
| TOP PICK | 21.540 | Leslie Lundquist | Oil/gas. A trust that will survive the tough times and thrive in the good times. Has a great long-term track record of creating value. Excellent portfolio of properties and excellent management. Good price. | 2007-07-25 | |
| Comment | 22.600 | Peter Brieger | Have a market cap of $6 billion, which will allow them to expand their equity-base without violating the government’s rules on trusts. One that he would consider owning. | 2007-07-19 | |
| DON'T BUY | 22.250 | Michael Sprung | Prefers others. Production profile going forward looks relatively flat to down. Have not been replacing reserves as effectively as others. | 2007-07-13 | |
| TOP PICK | 21.970 | Kevin Hall BComm, CFA | Management delivers on a pretty consistent basis. 50% natural gas/50% oil. Healthy balance sheet so can take advantage of acquisition opportunities. Sustainable model with lower payout ratio and lower yield, but very good at reinvesting money back into the ground. Longer term, have some pretty decent resource plays. Good at increasing recovery through CO2 injection. | 2007-07-11 | |
| PAST TOP PICK | 22.740 | Dean Orrico | Then $25.39
Continues to be a great company. Pay out high yields. | 2007-06-14 | |
| HOLD | 22.650 | Ben Cheng | One of the better oil/gas income trusts. Good management team. | 2007-05-29 | |
| BUY | 22.170 | Patrick Kim | Excellent entry point. One of the top trusts when looking at the underlying portfolio. Roughly 50%-50% oil/gas. Fantastic management record. | 2007-05-14 | |
| BUY | 22.310 | David Baskin | This is one of the better ones based on its reserve life and its ratio of payouts to cash flow. | 2007-05-08 | |
| BUY | 21.300 | Sandy McIntyre | Amongst the best of the energy trusts. Great management team. | 2007-04-13 | |
| BUY on WEAKNESS | 21.310 | Glenn MacNeill, P.Eng. | Very good performer and very well managed. Produces about 60,000 barrels a day. Has some unique development on the horizon. Should continue to do well. | 2007-04-04 | |
| BUY | 21.900 | Michele Robitaille | Has one of the best management teams in the oil/gas trust sector. Very strong technical focus. Good resources. | 2007-03-23 | |
| TOP PICK | 20.740 | Michael Simpson, CFA | About 46% gas and 54% oil. Debt to cash level at about 1.1 X’s. Good drilling prospects and reasonable operating costs. Very cheap. | 2007-03-20 | |
| WAIT | 20.050 | David Cockfield | This is probably one of the better trusts. Probably the best operator in their niche. Wait for the budget before buying. | 2007-03-15 | |
| HOLD | 20.350 | Kevin Hall BComm, CFA | Very high quality management team. Balanced production profile between oil and gas. Typically trades at the higher end of the valuation range. | 2007-03-09 | |
| BUY | 20.700 | Ben Cheng | Very good trust. Solid and smart management team. Long reserve life. Very good assets. 11.5% yield. Buy anytime below $20. | 2007-03-02 | |
| BUY | 22.220 | Patrick Kim | One of the best-run royalty trusts. Very high quality and long-term life assets. Distributions are at a relatively sustainable level. Should be a core holding as it will outperform the majority. | 2007-02-22 | |
| BUY | 22.100 | Peter Brieger | In an excellent position to increase their size given the new rules. A great company and one of the best ones in this space. | 2007-02-19 | |
| HOLD | 22.840 | Bruce Campbell | Extremely well managed. Very senior company. Bought a huge piece of Cold Lake assets that were perfect trust assets with slow growth, but long life reserves. Fairly valued and yield is under 10%. | 2007-02-05 | |
| BUY | 22.920 | Michele Robitaille | A high-quality name. Excellent management team. Payout ratio is about 65%. Good Reserve Life Index. Good balance sheet. | 2007-02-02 | |
| BUY | 22.920 | Peter Brieger | The crème de la crème in income trusts. Going forward, they will be an aggressive acquirer of other trusts. | 2007-02-02 | |
| BUY | 22.060 | Patrick Kim | Has been one of the low performers in the royalty income trust space. As one of the highest quality asset bases out there. Very diversified. Great management team. | 2007-01-26 | |
| HOLD | 20.820 | Robert Floyd | Has fallen as a result of lower commodity prices. Very well run income trust. Good management. | 2007-01-19 | |
| HOLD | 20.720 | Peter Brieger | Crème de la crème. Management, based on past performance, is smart enough to figure out what to do in terms of reconverting into more of an exploration vehicle versus a production vehicle. Good long-term. Expensive. | 2007-01-15 | |
| Comment | 20.090 | Steve MacInnes | Prefers trusts that have stable payouts. Resource trusts are depleting and are subject to commodity price trends. He prefers longer-term holds with more stable distributions. Those connected with the oil sands would be safer than others. | 2007-01-11 | |
| BUY | 20.190 | Michael Simpson, CFA | One of the better oil/gas trusts. Excellent management and good properties. Reasonable payout ratio and reasonable debt. Exploring CO2 flooding at some of their projects. | 2007-01-04 | |
| Comment | 22.900 | David Cockfield | Dropped a lot less than some of the other oil/gas income trusts. Very well managed. Reasonable payout ratio. Has been good in terms of replacing production. | 2006-12-27 | |
| BUY | 23.000 | Michele Robitaille | A premier holding in the oil/gas space. Very strong legacy assets. Strong management. | 2006-12-15 | |
| BUY | 22.490 | Ben Cheng | Very good oil/gas trust. Good management. Gas prices have been improving. Some good gas focused names are Enerplus (ERF.UN-T) Arc Energy (AET.UN-T) Focus (FET.UN-T) and Shining Bank (SHN.UN-T). | 2006-12-01 | |
| BUY | 22.490 | Robert Floyd | Likes this one. For a unit trust, it’s probably a decent place to be. | 2006-12-01 | |
| HOLD | 22.370 | David Baskin | Fell 25/30%. As clawed its way back about 15%. One of the higher quality of the large energy trusts. | 2006-11-21 | |
| DON'T BUY | 21.310 | Bill Harris | Historically, it has been the best managed trust. With the change in tax structure, its business plan is up in the air. Royalty trusts are in a hiatus now and it may be six months before they start moving. | 2006-11-20 | |
| BUY | 20.700 | Ravi Sood | Stellar management team. Great assets with long reserve life. Good long-term holding in the oil/gas space. Probably won't participate in any near-term rally. | 2006-11-17 | |
| HOLD | 20.360 | Bruce Campbell | Extremely well managed. Given how far it has come down, it is completely fine to own. Not a bad place to be if you want income. Will continue to be choppy in the short term. | 2006-11-15 | |
| BUY | 20.110 | Robert Floyd | A well run trust. A lot of the trusts have been oversold. | 2006-11-13 | |
| BUY | 21.100 | Glenn MacNeill, P.Eng. | Likes this one a lot. Pays about 11%. | 2006-11-10 | |
| Comment | 28.690 | Robert Toole | Regarded as one of the highest-quality trusts. Very well run. Good trust for more conservative investors. Yields 8.2%. Low payout ratio. For the more aggressive investor, this could be a good time to rotate into something with a bit more upside. | 2006-10-27 | |
| BUY on WEAKNESS | 28.240 | Robert Lauzon | One of his favourites. Great management. About 50% oil and 50% gas. Very tied to the commodity. $25-$26 range is a fantastic price. | 2006-10-20 | |
| BUY | 25.330 | John Stephenson | Very conservative and low payout ratio. Some upside in terms of CO2 flooding where they can recover more oil. | 2006-10-12 | |
| TOP PICK | 25.390 | Dean Orrico | One of the top management teams in the trust sector. About 2-3 years of drilling inventory. Hasn't had to resort to acquisitions. | 2006-10-06 | |
| HOLD | 25.250 | Robert Floyd | Likes this stock. Has pulled back with the energy prices. | 2006-09-20 | |
| HOLD | 26.610 | Bruce Campbell | Very senior and very steady. Mix of oil and gas. Has not made an acquisition for a while, while others have so he suspects they are doing something behind the scenes. | 2006-09-11 | |
| HOLD | 30.740 | David Baskin | His favourite in the sector but wouldn't buy at this price. | 2006-08-24 | |
| BUY | 29.500 | John Stephenson | This is a name that you want to hold in the royalty trust space. Has been very conservative in terms of its management. Law payout ratio. Has potential for upside in coal bed methane and CO2 flooding. | 2006-08-21 | |
| HOLD | 29.030 | Robert Floyd | The trusts that are more exposed to gas have had a look that the problem with regards to their cash flows. Expect that Arc will be able to hold its distribution. | 2006-08-18 | |
| DON'T BUY | 29.030 | Peter Gibson | Has taken a 7/8% hit in the last 10 days. Expects this is due to profit deterioration. This is an especially serious matter for trusts. The most important determinant of the performance of trusts is profit growth. When profit growth falters, there is a real risk of distribution cuts. | 2006-08-18 | |
| BUY | 30.500 | Peter Brieger | If you are taking a balanced approach to trust exposure in oil and natural gas, this is a terrific investment. Yield is lower than what he would like. | 2006-08-09 | |
| HOLD | 30.020 | Patrick Kim | Valuation is at a slight premium to their peers, which is well deserved, based on their numbers. Their operating costs continue to go down. A good balance between oil and gas. | 2006-08-04 | |
| BUY | 27.840 | Greg Guichon | Equally weighted in oil/gas. Excellent management. Actively traded in the US. | 2006-07-14 | |
| DON'T BUY | 27.850 | David Cockfield | Buys income trusts for yield. When the price of this stock went up, the yield was not that exciting and he sold his holdings. Great management. | 2006-07-13 | |
| BUY | 26.930 | John Stephenson | Over time, has been very conservative. Hasn't over promised and under delivered, but has actually under promised and over delivered. Because of its conservative payout strategy, it has also option value in terms of CO2 flood potential where they can get out oil/gas in the Pembina region. | 2006-06-28 | |
| BUY | 26.040 | Glenn MacNeill, P.Eng. | One of the best run royalty trusts. Good variety of properties. A core holding for most portfolios. | 2006-06-16 | |
| BUY | 26.300 | Glenn MacNeill, P.Eng. | One of the largest trusts. 50% natural gas/50% oil. Excellent management. 1st quarter results were better than expected. Have some very interesting things in front of it. Has interests in the Pembina area. | 2006-05-16 | |
| BUY | 26.580 | Kevin Hall BComm, CFA | Has been flat and range bound in the last little while. This is a relatively good buying opportunity. One of the premier oil/gas income trusts. | 2006-05-05 | |
| DON'T BUY | 26.580 | David Cockfield | Has been relatively flat recently. Good management. Reasonably fully priced, so has not been adding to his position. He is also a bit concerned about the price of gas. | 2006-05-04 | |
| HOLD | 27.000 | Gavin Graham | Income trusts like this one, are going to be put into the MSCI (Morgan Stanley index) this month which will create some extra buying. Gives you an 11% yield, a large part of which is tax deferred. | 2006-05-03 | |
| BUY | 27.000 | Greg Guichon | A premier income trust. Management continues to do a good job in replacing reserves and making small acquisitions. | 2006-04-28 | |
Experts that have talked about Arc Energy Trust
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