| BUY | 14.400 | Bill MacLachlan | It’s a solid company. Distribution is safe, but what if 6 months from now oil is $50 a barrel and if this happened they would have some problems, but they are the strongest of the sector. | 2008-10-03 | |
| BUY | 15.600 | Kevin O'Leary | Added to the position recently. | 2008-10-01 | |
| HOLD | 18.380 | John Stephenson | Higher payout ratio and have worked hard to bring it down. Likes its enhanced oil recovery. Not his favourite. | 2008-08-22 | |
| HOLD | 17.500 | Ben Cheng | One of the original oil/gas trusts. Not bearish on oil/gas, so would continue to Hold. | 2008-08-07 | |
| WAIT | 20.700 | Ken McCord | Fundamentally what is backing up energy stories is still very much intact. A big believer in energy. In the next week or two, there could be a little pullback, which will give you great entry points. | 2008-05-23 | |
| DON'T BUY | 20.750 | Glenn MacNeill, P.Eng. | This was the trust that had a good start early on and was able to acquire some very good assets. More recently they have had some difficulty in maintaining their production. Had a policy of paying out more than they earned, which required more borrowing or underwriting. Prefers others. | 2008-05-16 | |
| SELL | 20.050 | Michael Simpson, CFA | (Market Call Minute.) Has struggled even in a high commodity price environment. | 2008-05-14 | |
| DON'T BUY | 20.170 | Kevin Hall BComm, CFA | Payout ratio on a relative basis to their peers is quite high. Also carry a bit higher than normal debt. Good assets. Would Prefer Arc Energy AET.UN-T), Crescent Point (CPG.UN-T) or Vermilion Energy (VET.UN-T). | 2008-05-06 | |
| HOLD | 20.250 | Sandy McIntyre | (Market Call Minute.) Too high a payout ratio. Needs to right size its distribution. | 2008-05-05 | |
| Comment | 20.030 | Ben Cheng | This is a trust with a wealth of opportunity. Some enhanced recovery plays, some oil sands potential and coal bed methane. He has been critical because of their consistently high payout strategy. Prefers to be more conservative with his income investments. | 2008-04-16 | |
| DON'T BUY | 19.700 | Bruce Campbell | Like a lot of the senior trusts, he worries about the sustainability of the growth and therefore the distributions. If you take payout plus capital sustainability it is over 100%. You just can't do that. What is keeping them on side for now is higher energy prices. | 2008-04-11 | |
| HOLD | 18.700 | Sandy McIntyre | (Market Call Minute.) Too high a payout ratio. | 2008-02-26 | |
| Comment | 16.320 | Ben Cheng | 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. | 2008-01-21 | |
| BUY | 18.000 | David Baskin | 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. | 2008-01-14 | |
| PAST TOP PICK | 18.130 | Michael Sprung | (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. | 2007-10-26 | |
| SELL | 18.420 | John Stephenson | Reasonable possibility of a distribution cut. | 2007-09-26 | |
| DON'T BUY | 17.980 | Ben Cheng | 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. | 2007-09-05 | |
| DON'T BUY | 18.040 | Michael Sprung | Payout ratio is over 90%, which gives them very little latitude. 16.5% yield may not be sustainable. Not attractive. | 2007-08-31 | |
| Comment | 18.460 | Peter Brieger | Good company, but he prefers Arc Energy (AET.UN-T) or Penn West Energy (PWT.UN-T). | 2007-08-28 | |
| Comment | 20.080 | Ben Cheng | 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. | 2007-05-29 | |
| HOLD | 19.630 | Glenn MacNeill, P.Eng. | 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. | 2007-04-04 | |
| HOLD | 20.200 | John Stephenson | 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. | 2007-03-27 | |
| PAST TOP PICK | 19.400 | Neil Wickham | (A Top Pick Oct 3/06. Down 6.0%.) Total return, including distributions, is actually up. Still likes. | 2007-03-20 | |
| PAST TOP PICK | 19.080 | Michael Sprung | (A Top Pick Nov 14/06. Up 13.5%.) That did after it had been crushed. Pretty much fully valued now. | 2007-03-16 | |
| Comment | 20.550 | Michael Simpson, CFA | 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. | 2007-02-23 | |
| SELL | 20.550 | David Cockfield | 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. | 2007-02-23 | |
| Comment | 20.210 | John Stephenson | Has a risk of having distribution cuts. | 2007-02-21 | |
| PAST TOP PICK | 20.030 | Michael Sprung | (A Top Pick Nov 14/06. Up 17.8%.) Feels the distribution is fairly safe for the time being. Good holdings and good assets. | 2007-02-20 | |
| HOLD | 19.630 | Robert Floyd | A well-run company and he doesn't expect them to cut the dividends. Would look for a bit of a rally when the energy price comes back a little. | 2007-01-19 | |
| WAIT | 19.640 | Glenn MacNeill, P.Eng. | Recently merged with and other large group of properties. Likes some of their assets and it is reasonably well managed. Expecting a decline in its distributions. That would be a good time to buy. | 2007-01-16 | |
| HOLD | 19.890 | Peter Brieger | Good management, and if any management is capable of making a transition from a pure production play to production and exploration, this is one. | 2007-01-15 | |
| BUY | 19.150 | Michael Sprung | Likes this one and is holding onto it despite the pullback. A midsize player. Reasonable multiple. Distribution is fairly safe. A modestly growing production profile which he likes. | 2007-01-05 | |
| DON'T BUY | 20.300 | Michele Robitaille | The oil/gas sector will be the one most affected by the new legislation. This company hasn’t kept up as well as others in building up a sustainable side of its business. Payout ratios are relatively high. | 2006-12-15 | |
| DON'T BUY | 20.300 | Kenneth P. Norquay, CMT | Had been dropping even before the government ruling on income trusts. Chart shows that it is not going up. | 2006-12-15 | |
| HOLD | 20.460 | Peter Brieger | Not one of his favorites. Was impressed with the deal they just made, taking over some of the ConocoPhillips (COP-N) assets. A good potential name going forward. | 2006-11-29 | |
| DON'T BUY | 19.840 | Bill Harris, CFA | If you are looking at royalty trusts, you really have to look at what is going on right now. If you're waiting for a government ruling, this is speculation. | 2006-11-20 | |
| WEAK BUY | 19.710 | Ravi Sood | Worth owning, but would not be one of his top picks on the oil/gas side. Made an acquisition of Esprit Energy at a very good price. Not really cheap at this point. | 2006-11-17 | |
| TOP PICK | 16.860 | Michael Sprung | Just hit a 52 week low. Yield is now 17%, but doesn’t feel the distribution is in any danger. 50%-50% oil and gas. Has been oversold. | 2006-11-14 | |
| DON'T BUY | 21.990 | Robert Lauzon | Owns in his index fund, but not in the actively managed funds. If oil dropped to $50, and gas stayed at $6, they would cut distributions. Have a little bit higher payout ratio and debt level than he likes. | 2006-10-20 | |
| TOP PICK | 20.730 | Neil Wickham | Rate of growth has been 20.7%. Just acquired Esprit Energy, a natural gas company. Will be buying a block of properties from Exxon Mobil. Strong cash flow. | 2006-10-03 | |
Experts that have talked about Pengrowth Energy Trust
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