| BUY | 42.850 | John Stephenson | Very good name. One of the larger trusts. Has done very well in bringing on production. Diversity of projects such as coal bed methane and enhanced oil recovery. These trusts give a solid yield and it pays to hold onto them. You want to be in the ones that are going to be survivors and have good balance sheets. | 2008-08-22 | |
| DON'T BUY | 42.460 | David Cockfield | He is picking away at trusts he likes and tries to Buy on weakness but would stay away from this one. | 2008-08-01 | |
| Comment | 48.500 | Glenn MacNeill, P.Eng. | Just acquired Focus Energy Trust, a gas driven trust. Has exposure to the oil sands, which is good. Also has exposure to the Bakken area in Saskatchewan. Feels distributional is safe at the moment. There are others he prefers better. | 2008-05-16 | |
| BUY | 47.280 | Michael Simpson, CFA | (Market Call Minute.) Good exposure to natural gas and with their purchase of Focus its a Buy. | 2008-05-14 | |
| BUY | 46.770 | Robert Lauzon | 60% gas/40% oil. Also have some oil sand exposure. Looking to sell their 15% Jocelyn asset, worth about $3 per share. Also developing their Kirby oil sands project. Over 10% yield. | 2008-04-28 | |
| Comment | 42.740 | John O'Connell, CFA | (Market Call Minute.) You could be a buyer here, but he would be cautious. It will be one of the long-term survivors. Prefers the actual producer over the trust. | 2008-03-03 | |
| Comment | 42.050 | Sandy McIntyre | At the forward current strip he is quite comfortable with their distribution at today's levels. If there is a material downtick in oil and gas there might be some risk of a minor trim. This is one of the longest duration asset-base of the conventional oil/gas income trusts with a very high quality. This is his #1 oil/gas position. | 2008-02-26 | |
| HOLD | 38.600 | John Stephenson | With most trusts, what has been supporting them has been the yield from distributions. Probably have 10% to 15% downside risk when they revert to a corporation. This is one of the older ones and has some prospects in the oil sands, but right now it is sort of stuck in the middle without a clear-cut strategy. Thinks it will do okay. | 2008-02-08 | |
| BUY | 38.200 | Dean Orrico | First oil/gas trust that was formed. 13 year reserve life. Recently has not performed as well as some of its competitors. Income will continue to be high. Given the nature of assets, management feels the best use of their cash flow is not to reinvest, but to pay out to its investors. Don't expect huge growth. | 2008-01-29 | |
| BUY | 37.370 | 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 | |
| WATCH | 36.150 | Ben Cheng | Good balance sheet and one of the strongest oil/gas income trusts. One of the few trusts that will migrate more readily to the E & P structure post 2011. Missed production numbers and to recover will take a lot of work. Integration risk with Focus Energy (FET.UN-T). | 2008-01-21 | |
| BUY | 39.800 | Joanne A. Hruska, CFA | Merging with Focus Energy (FET.UN-T), which is great for them. Hadn't quite hit their production targets in the last couple of quarters but the new deal gives them good assets. | 2007-12-05 | |
| BUY | 39.750 | Norman Levine | Announced a merger with Focus Energy (FET.UN-T), which would be a good for both companies. Focus is a gassy trust and Enerplus is oilier. | 2007-12-03 | |
| BUY | 40.470 | Michele Robitaille | Good quality name. Diverse asset base. Have a lot of options with their oil sands leases and their US gas play. Have been a little challenged in the last couple of quarters having missed slightly. Longer term it is a very decent holding. Prefers Bonavista (BNP.UN-T) or Arc Energy (AET.UN-T). | 2007-11-28 | |
| SELL | 40.810 | Bruce Campbell | (Market Call Minute) A gassy trust, which is the kind of thing he avoids. | 2007-11-22 | |
| HOLD | 40.890 | Michael Decter | A very solid trust and well managed. Has been buffeted low gas prices, strong Cdn$, et cetera. Good distribution at the 11% range. | 2007-11-12 | |
| BUY | 45.420 | Ben Cheng | Could spin out their Montana assets into a US based MLP, which could be very accretive to them. Equal to 11,000 barrels a day in production. | 2007-09-05 | |
| BUY | 45.300 | Sandy McIntyre | A bit more gassy (58%?) than oil. Very close to a 52-week low. A very good long-duration asset base. Distribution is reasonably well covered. | 2007-08-13 | |
| HOLD | 47.900 | Leslie Lundquist | She has been reducing her holdings over the last few quarters because of better values elsewhere. | 2007-07-25 | |
| BUY | 51.490 | Michele Robitaille | Very strong management team, and strong tech focus. Some oil sands exposures.
Cheap for all the things they have. Are very well positioned. | 2007-06-11 | |
| TOP PICK | 51.960 | John Stephenson | Larger granddaddies of the trust market.
Has properties in the US, is spending a lot more of it's capital on it's sleeping giant field (light oil), has shallow gas, that can be brought on stream if prices go up, has oil sand properties, a lot of diversity.
Doesn't think the oil sands properties are baked into the price. (another $4 or $5)
Get paid a 10+ yield just to hold it.
Paid 51.40 | 2007-06-06 | |
| HOLD | 49.540 | Michele Robitaille | Very stable, well-managed company. Very well positioned for transformation back to a corporation. Have significant resource potential. Has exposure to the US. | 2007-03-23 | |
| BUY | 48.570 | Neil Wickham | One of his favourites in the oil/gas trust sector. Well managed. Can't remember them ever having to decrease the distributions. | 2007-03-20 | |
| PAST TOP PICK | 49.640 | Patrick Kim | (A Top Pick Jan 13/06. Down 12.7%.) This one should always be on the radar for investors looking to consolidate their position in royalty trusts. As fantastic, long-term, stable assets. | 2007-01-26 | |
| BUY | 50.250 | Gavin Graham | Looks pretty cheap compared to conventional oil/gas companies. One of the more conservative in growing by acquisition. 10% yield. | 2006-12-28 | |
| BUY | 54.140 | Michele Robitaille | Very strong management team. Stable payout. Long-term holding. | 2006-12-15 | |
| BUY | 52.700 | Ben Cheng | Excellent reserve life. Good management team. Should survive the changeover in 2011. | 2006-12-01 | |
| SELL | 46.750 | Bruce Campbell | Had avoided this one because of the heavy US participation. Always have to make acquisitions to keep production up. Will have trouble going forward. Sell on strength. | 2006-11-15 | |
| BUY | 53.300 | Neil Wickham | The oldest oil/gas trust. Has grown steadily over time. Stable distributions. They hedge their commodity at higher prices. | 2006-10-03 | |
| BUY | 64.750 | Glenn MacNeill, P.Eng. | One of the largest royalty trusts. Current production is about 86 thousand BOE’s. Relatively balanced between gas and oil. Has some interesting discoveries in Montana. Likes this one a lot. | 2006-08-23 | |
| HOLD | 65.780 | Patrick Kim | Very solid asset base. Very large and diversified. Trade at a slight premium to their peers and feels they should trade more in line. Hedging policy is not as conservative. If you own, consider trimming some of your profits. | 2006-08-04 | |
| BUY | 62.240 | Ravi Sood | Distribution is safe. As for the unit price and your capital exposure, this has been the “go to” name. Chronically overvalued because of its US listing. You won't earn significant capital gains unless there is a huge move upwards in oil/gas. | 2006-07-21 | |
| PAST TOP PICK | 60.070 | Patrick Kim | (Past Top Pick Jan 13/06. Up 4.5%.) One of the highest quality oil/gas trusts, particularly with their diversified long life reserves. | 2006-04-21 | |
| BUY on WEAKNESS | 59.670 | Glenn MacNeill, P.Eng. | Has wide exposure to oil/gas. This is a good trust. Has been quite expensive but is coming down because of gas exposure. There will be opportunities in the next few months to buy. | 2006-04-13 | |
| BUY | 58.570 | James Leung | A prudent operator with a low risk profile. | 2006-03-31 | |
| PAST TOP PICK | 56.940 | Dean Orrico | Enerplus went up 9%. Their top 3-4 oil and gas trusts. Has been around since the first trusts were launched in 1986. Reserve life today is higher than it was in 1986. Producing more and has exposure to oil sands deposits. It is in very good shape. | 2006-03-12 | |
| PAST TOP PICK | 62.320 | Dean Orrico | (A Top Pick Oct 18/05. Up 20%.) Feels that commodity prices are going to stay quite strong and he still likes this trust. | 2006-02-03 | |
| TOP PICK | 57.020 | Patrick Kim | This is a valuation call. Should trade at a premium to a lot of it's peers. Very large with a very diversified base. Good reserve life. More than 50% of its investors are outside of Canada. | 2006-01-13 | |
| BUY | 56.010 | Leslie Lundquist | Based on the quality of management, quality of assets and the outlook for the company, this is a good long-term hold. This is dependent on oil/gas prices. | 2005-12-07 | |
| BUY | 56.030 | Garth Jestley | A very good trust. Since its inception, it has managed to maintain its reserve life index, at around 13 years. Has recently expanded into the U. S. it also has some interest in the oil sands. | 2005-12-02 | |
| DON'T BUY | 52.940 | Jean-Francois Tardif | Thinks there's a problem with energy trusts as they are depleting their assets. He doesn't like them, nor does he own any. | 2005-11-29 | |
| BUY | 49.920 | Patrick Kim | One of the largest and is the oldest income trust. Very diversified asset base. Have been quite active in their acquisitions. Has been an outperformer compared to its peers. An interlisted trust meaning it trades on the US exchange and has a lot of US investors. Governement action could severly affect foreign investors in trusts. | 2005-11-04 | |
| BUY | 48.890 | Greg Guichon | A high quality trust. This and ARC Energy (AET.UN-T) are the blue chip trusts in the market place. Sensitive to the prices of oil and gas. If you feel that oil/gas prices are going to be stronger, than this is a core holding. | 2005-10-21 | |
| DON'T BUY | 47.650 | Glenn MacNeill, P.Eng. | One of the good highly liquid companies. Feels it's fairly fully valued right now. Have an interesting tar sands project, but it's a long way down the road to cash flow. | 2005-10-20 | |
| TOP PICK | 51.480 | Dean Orrico | Reserve life of about 14 years. Good quality management. Owns 16% of the Johnson Creek project in the oil sands. | 2005-10-18 | |
| BUY | 52.950 | Ravi Sood | Increased their distributions by 13%. A phenominally well run company. Stock has fallen to level where it represents interesting value. Oil is still in a pull back mode and you may be able to get it a little bit cheaper. Excellent assets. | 2005-10-14 | |
| BUY | 53.300 | David Cockfield | Has been really hammered in the last few days because of its New York connections where it is also listed. Good quality stock. Good payout. Expects they will increase their payouts. | 2005-10-12 | |
| TOP PICK | 54.910 | Dean Orrico | Likes the management. A good solid play in the oil/gas sector. The oil sands is the most attractive part of this market. This is the only one outside of Oil Sands (OST.UN-T) that has exposure. It has 16% interest in the Jollico Creek project with a great partner. | 2005-09-30 | |
| BUY | 50.560 | Leslie Lundquist | Has a fairly significant US holder base, so any downside would be amplified by the US holdings who do not have the patience. Strong management and good properties. | 2005-09-16 | |
| BUY | 46.160 | David Cockfield | Just came out with a new issue. Thinks there were more than a few riders in that issue and as the pressure came on the oil stocks and oil/gas income trusts, a few of those people have been bailing. Not his most favourite income trust, but it is a very large and acceptable income trust. | 2005-08-18 | |
| BUY on WEAKNESS | 48.460 | Glenn MacNeill, P.Eng. | The largest oil & gas income trust out there. Has a good slate of properties. A good core holding. Has gotten expensive in the last little while, so might be a good time to take a little money of the table. He typically buys in the low $40's and sells in the high $40's. | 2005-07-08 | |
| HOLD | 42.600 | Sandy McIntyre | An extremely well managed company with a great asset base. Not cheap. | 2005-05-13 | |
| BUY | 43.900 | Robert Lauzon | Long term positive on light/sweet oil such as this one, Crescent Point (CPG.UN-T) and Arc Energy (AET.UN-T). | 2005-04-08 | |
| BUY on WEAKNESS | 47.340 | Matt Baillie | Has a very long reserve life. Asset base is distibuted over a wide variety of assets so risk is lower. Pretty good operating costs. The trouble with cross border trusts is that US buyers have gotten into them in a big way and bid up the price, so not cheap, but of all the cross border trusts, this is the only one they own. | 2005-01-27 | |
| DON'T BUY | 39.820 | Bill Harris, CFA | A well run, old established energy trust. If oil prices drop, you should get out first. | 2004-10-29 | |
| HOLD | 40.600 | Peter Brieger | 10%+ yield. Prefers Peyto and Focus. Hold for the energy play. | 2004-09-29 | |
| BUY | 41.110 | Kevin Hall BComm, CFA | Good track record. 2nd highest reserve life index at just over 12 years with low decline rates. | 2004-09-24 | |
| DON'T BUY | 35.300 | David Baskin | Feels the stock is expensive. | 2004-05-14 | |
| BUY | 35.600 | Dean Orrico | Has done an excellent job in maintaining its reserve life over the last 13/14 year range. Has significant US ownership so is more volatile. Good, long-term hold. | 2004-05-05 | |
| DON'T BUY | 35.150 | David Cockfield | A problem that has just surfaced is the new government budget restraints on foreign holders. Wait for this to get result. | 2004-04-26 | |
| BUY | 34.700 | Leslie Lundquist | Well run trust. Very established. Excellent properties. | 2004-04-15 | |
| VAGUE | 38.400 | Leslie Lundquist | Strong management. A very large enterprise, so it is difficult for them to make acquisitions that are meaningful. | 2004-03-22 | |
| WEAK BUY | 36.600 | Ben Cheng | Canadas largest traditional oil and gas income fund. One of largest reserves out there. | 2004-02-05 | |
| HOLD | 39.640 | Peter Brieger | Feels that oil/gas prices will remain strong. Prefers a more gas oriented trust. | 2003-12-22 | |
| BUY | 36.970 | John Priestman | A really good trust. Reserve life index is just under 14 years. Good balance sheet. Strong management. Well followed. US investors like this trust. | 2003-11-07 | |
| WEAK BUY | 36.790 | David Baskin | Prefers Arc Energy Trust right now. | 2003-10-28 | |
| DON'T BUY | 36.000 | Leslie Lundquist | Oil/ gas trusts will follow commodity prices. Right now they are high and not sure how long they will stay there. A quality trust. | 2003-09-05 | |
| DON'T BUY | 35.530 | Sandy McIntyre | A very good oil and gas trust.High quality properties.Oil is at an unsustainable price for a long-term. | 2003-08-25 | |
| DON'T BUY | 33.080 | Bill Harris, CFA | Fully priced based on current oil prices. | 2003-07-25 | |
| BUY | 29.800 | Sandy McIntyre | Also listed on the NYSE. Has a low payout ratio which cushions any decline on commodity prices. Also have a good hedge program. | 2003-06-19 | |
| DON'T BUY | 32.090 | Bill Harris, CFA | One of the top trusts. Best reserve life index. Fairly priced for growth. | 2003-06-06 | |
| BUY | 27.970 | Garth Jestley | Good management/balance sheet. Long life gas reserves. | 2003-04-02 | |
| BUY | 28.180 | Ben Cheng | Just reverted to internal management, so costs will be reduced. | 2003-04-01 | |
| BUY | 27.360 | Sandy McIntyre | A high quality trust. | 2003-03-25 | |
| BUY | 28.870 | Glenn MacNeill, P.Eng. | A good company. Well run. | 2003-02-05 | |
| HOLD | 28.410 | Glenn MacNeill, P.Eng. | | 2003-01-28 | |
| BUY | 28.720 | Peter Brieger | Outlook is fine. A drop in oil prices could create a small drop in distributions. | 2003-01-15 | |
| BUY | 28.190 | David Cockfield | Good diversification. A large and solid trust. | 2002-12-27 | |
| BUY on WEAKNESS | 28.140 | Bruce Campbell | Has a good US following. Good yield. Buy at $26, | 2002-10-28 | |
| HOLD | 28.600 | Peter Brieger | Had a good run. | 2002-10-03 | |
| WEAK BUY | 28.100 | Bill Shaw | Well managed. 14 years reaserve life. Has concerns on the prices of oil and gas. | 2002-09-27 | |
| BUY | 27.070 | Glenn MacNeill, P.Eng. | Expects distribution will be going up, so share price should also rise. Prefers Arc and Enerplus as first choices and Viking third. | 2002-08-29 | |
| PAST TOP PICK | 27.930 | Sandy McIntyre | (Was a top pick on Feb 26. Up 19% plus had distributions.) | 2002-08-12 | |
| BUY | 28.200 | Garth Jestley | Likes oil trusts. Could be volatile. | 2002-08-06 | |
| BUY | 27.150 | Peter Brieger | Well managed. | 2002-07-31 | |
| DON'T BUY | 26.200 | Glenn MacNeill, P.Eng. | Good assets. Fully valued. Buy on weakness. | 2002-05-07 | |
| TOP PICK | 26.170 | Sandy McIntyre | Well managed. Good hedging making it a stable holding. | 2002-05-03 | |
| TOP PICK | 25.700 | Sandy McIntyre | Has a blanced portfolio of oil and gas. Good reserve life assets. Good hedging strategy. | 2002-04-22 | |
| PAST TOP PICK | 25.670 | Ben Cheng | (Was a top pick on Dec 3 up 3%) Still likes. Would buy again at a lower price. Solid management and low cost production. | 2002-04-16 | |
| TOP PICK | 25.700 | Sandy McIntyre | Will be OK even if commodity prices don't hold. Good management. | 2002-03-20 | |
| BUY | 26.020 | John Priestman | Good assets/ track record/diversification. | 2002-03-19 | |
| BUY on WEAKNESS | 25.450 | Glenn MacNeill, P.Eng. | Have had a good run. May drop. | 2002-03-13 | |
| TOP PICK | 23.600 | Sandy McIntyre | Selected for those who are bullish on the economy. This company has very little hedging so would be levered to the upside in an economy upswing. | 2002-02-26 | |
| BUY | 23.860 | Glenn MacNeill, P.Eng. | Well run company. Should pay good future distributions. | 2001-12-19 | |
| DON'T BUY | 24.510 | Bill Shaw | Well managed. Oil prices are too weak. | 2001-12-11 | |
| TOP PICK | 24.960 | Ben Cheng | Good access to capital markets. Room for acquisitions. | 2001-12-03 | |
| BUY | 25.150 | Sandy McIntyre | | 2001-10-29 | |
| BUY | 26.550 | David Cockfield | Oversold. Good yield. | 2001-10-10 | |
| DON'T BUY | 23.118 | Keith Graham | Doesn't like oil/gas in royalty trusts because of declining asset base. | 2001-09-26 | |
| BUY | 25.950 | Sandy McIntyre | Gas is weak. Good valuation. Is buying. | 2001-09-06 | |
Experts that have talked about Enerplus Resources Fund
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