| BUY | 14.070 | Michael Sprung | Likes the longer-term outlook for natural gas. | 2007-05-28 | |
| BUY on WEAKNESS | 14.600 | Glenn MacNeill, P.Eng. | Mainly gas production and tends to move quickly with natural gas prices. Expect it to be relatively quiet over the next 6 months, with a rebound in the winter. Assets are not top-quality, but are above average. Treat as a trading stock. | 2007-05-09 | |
| DON'T BUY | 14.130 | Peter Brieger | Favourite Natural gas story, but there are better alternatives. | 2007-05-02 | |
| WEAK BUY | 13.800 | John Stephenson | Time to wade out, but stay fairly close to shore on some of the gas names. Has been very beaten up. There are some cost pressures going forward which may be a bit of an issue. OK to buy a little. | 2007-04-30 | |
| DON'T BUY | 13.900 | Paul Harris, CFA | Sold his holdings when they made an acquisition, which levered up the balance sheet. Have cut their payout a couple of times. Balance sheet is not pristine. | 2007-04-23 | |
| BUY | 13.850 | Peter Brieger | One of his favourite gas trusts. If he were going to own a trust right now, this would be it. First-class management. Interesting acreage. Cheapest of the bunch in terms of price to NAV and cash flow. | 2007-04-18 | |
| WAIT | 12.700 | Peter Brieger | Good management. About 77% of production is natural gas. Once the income trust legislation is settled, it could well be a buy. One of the cheapest. Have a very impressive set of tax pools. | 2007-04-04 | |
| Comment | 12.410 | Peter Brieger | Very gas oriented. Price to cash flow, Price to book value and management capabilities, it could be worth a look. They have some interesting tax pools. | 2007-03-21 | |
| Comment | 12.120 | Neil Wickham | Heavily natural gas oriented. Natural gas is at the lower part of its traditional price range. On average, prices will probably be higher going forward. | 2007-03-20 | |
| BUY | 11.940 | Michael Sprung | Highly leveraged to natural gas. His feeling is that natural gas will do quite well over the next couple of years. | 2007-03-16 | |
| BUY on WEAKNESS | 14.230 | Michael Simpson, CFA | About 80% of production is gas weighted. Cut their distribution due to lower gas prices. Have good assets and will develop their properties and do more drilling. Bullish on natural gas longer-term. By in April-May if the price softens. | 2007-02-23 | |
| SELL | 14.340 | Glenn MacNeill, P.Eng. | A gas driven trust. Feels that gas price will get soft which is where you should pick it up. If you own, you might want to sell now and pick it up again in 2-3 months. | 2007-02-16 | |
| DON'T BUY | 14.400 | Michele Robitaille | One of the gassier trusts. Have cut distributions and brought their payout ratio down to a more sustainable level. She is a little more cautious on gas trusts. There could be another down leg in natural gas pricing. In gas, she would prefer Progress (PGX.UN-T) and Focus (FET.UN-T). | 2007-02-02 | |
| Comment | 13.500 | Robert Lauzon | Natural gas weighted. With their recent cut, it looks like they have cleaned themselves up and he is going to take another look at them. Might start picking away at it if it was $.50-$.75 lower. | 2007-01-22 | |
| DON'T BUY | 12.780 | Robert Toole | One of the worst performing trusts through this last period. Trades at about a 13% yield. Quite leveraged to natural gas. He is bullish on natural gas for the next 1 to 1.5 years but it is a junior expiration companies is a better way to play the sector. | 2007-01-18 | |
| WAIT | 12.900 | Glenn MacNeill, P.Eng. | A very gas weighted trust. Expect its distribution will be reduced over the next little while because its payout ratio is quite high. Wait until this happens before buying. | 2007-01-16 | |
| SELL | 12.250 | John Stephenson | One of the most casts weighted trusts there is. There's very little visibility for the commodity until you get into the summer season or perhaps a hurricane season. | 2007-01-05 | |
| WAIT | 12.850 | Sandy McIntyre | 52-week low because of gas prices. Payout ratio is higher than he likes, but it has a very good land base. Good one to buy, but with current weather, gas is going to have weaker numbers through January. You’ll probably get a better entry point. | 2006-12-29 | |
| HOLD | 12.850 | Peter Brieger | Selling at a significant discount ro its net asset value. Price to cash flow is one of the cheapest. Before buying wait for the charts to give you more positive indications. | 2006-12-29 | |
| WEAK BUY | 13.890 | Bill Carrigan | Has had a horrific down. You can Buy at this point, but make sure you put in a Stop and don’t let it make a 52 week low. Would prefer Buying when it is ticking up rather than down. | 2006-12-20 | |
| DON'T BUY | 14.100 | Paul Gardner, CFA | Has done poorly because they got caught in the draft of the income trust announcement. They are also in a business that has depletion rates, so they have to keep on acquiring. Now that the rules are clearer, there may be a bit if a bounce. Doesn’t like the conduits and how natural gas depletes. | 2006-12-19 | |
| WAIT | 15.140 | Michael Sprung | Market has concerns on the safety of the distributions. Primarily natural gas. May be some opportunity, but possibly not this year. | 2006-12-08 | |
| BUY | 15.840 | Ben Cheng | 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 | |
| HOLD | 15.640 | Peter Brieger | If they are successful in completing the Rider acquisition along with another one they have done, gives them some very interesting natural gas processing plants and acreage to drill on. | 2006-11-29 | |
| HOLD | 15.250 | Michael Decter | Has mixed feelings on this one. It's gassy and this is a good time to look at gassy plays. This has always traded at a premium. Made a couple of acquisitions and paid a lot for them. | 2006-11-24 | |
| BUY | 14.730 | Ravi Sood | Any gas weighted trust is probably close to the cusp of cutting distributions, but would ignore that as you have very high yield here. Distributions may move up-and-down, but you have huge capital gains potential. Consider buying Rider (RRZ-T) which gives you exposure because of the share offer giving exposure to their explore co. | 2006-11-17 | |
| DON'T BUY | 14.600 | John Stephenson | Not in his favourite category. Would eventually lighten up if you own. | 2006-11-16 | |
| WEAK BUY | 13.500 | Michael Sprung | Dropping because of the uncertainty of income trusts. Also a natural gas play. Now reaching a level where it deserves a close look. | 2006-11-14 | |
| Comment | 15.330 | Paul Gardner, CFA | Didn’t like them being hedged at the bottom of the natural gas price, | 2006-11-07 | |
| DON'T BUY | 20.440 | Robert Toole | Inability to grow their asset base and per share distributions. Relatively high payout ratio. Large exposure to natural gas. | 2006-10-27 | |
| DON'T BUY | 19.820 | Robert Lauzon | Very gas weighted. Recently cut distributions. Prefers others. | 2006-10-20 | |
| BUY | 18.750 | Sandy McIntyre | Acquired 2 great additions, Find Energy (FE-T) and Rider Resources (RRZ-T). He has now gone back into this trust after being away from it for 9 months. | 2006-10-13 | |
| DON'T BUY | 16.940 | Neil Wickham | High percentage of natural gas. Cut their distributions a couple of times this year. | 2006-10-03 | |
| VAGUE | 17.180 | Peter Brieger | Shining Bank just merged with Rider Resouces, believes this is a terrible deal. | 2006-09-26 | |
| DON'T BUY | 20.920 | Robert Lauzon | Have cut distributions earlier this year. Payout ratio is higher than what he would like to see. Prefers others. | 2006-09-08 | |
| DON'T BUY | 22.190 | John Stephenson | Has had some struggles like most of the gas weighted trusts. Has had some production misses and some earnings disappointments. | 2006-08-21 | |
| DON'T BUY | 22.950 | Garth Jestley | Paying a very high price in acquiring Find Energy. It will be a good fit. Good management team. Looking at their high payout ratio and increasing debt ratio, he would stay on the sidelines. | 2006-08-11 | |
| TOP PICK | 22.450 | Bill Harris, CFA | This is the way to play natural gas through this bear market. 30% hedged. | 2006-08-01 | |
| WAIT | 21.710 | Sandy McIntyre | A well-managed company. Sold in Jan/Feb and would have bought back, but they recently went into an arrangement with Find Energy (FE-T) and he would like to see how it works out. | 2006-07-28 | |
| WEAK BUY | 20.350 | Ravi Sood | Recently had a distribution cuts, but they should be fine from this level. A pretty good way to play a turnaround in gas but there are better ways. | 2006-07-21 | |
| WEAK BUY | 20.230 | Michael Sprung | A lot more natural gas then oil. Some of the natural gas plays are becoming more attractive on a relative basis. Have been looking at this one. There could be a payout cut. | 2006-07-18 | |
| DON'T BUY | 21.160 | Greg Guichon | Just made an acquisition. Made 2 distribution cuts this year. Payout ratio is too high. | 2006-07-14 | |
| BUY | 22.010 | David Baskin | This is a good time to buy natural gas. Normally, natural gas should sell at 1/6th of the price of oil. With oil at $72, gas should be $12. | 2006-06-06 | |
| HOLD | 21.790 | Ben Cheng | Was probably a little too quick off the draw in 2005 in raising distributions. Doesn't feel they can maintain their distributions at the current price level of natural gas. An increase in natural gas will probably help sustain their income. | 2006-05-19 | |
| SELL | 22.560 | Robert Lauzon | Gassy weighted with a higher payout ratio. They just cut distributions. If gas stays down at its current level, you could see another distribution cut at the end of the summer. For a gas trust, he would prefer Progress Energy Trust (PGX.UN-T) or Peyto Energy (PEY.UN-T). | 2006-05-18 | |
| DON'T BUY | 24.500 | Michael Simpson, CFA | (Interviewer asked about gas weighted trusts that Michael does not like.) Had increased distributions when gas prices went up but, as they were unhedged, had to cut them. | 2006-03-31 | |
| BUY | 24.300 | Michael Sprung | Would be looking at buying it for the long-term based on its recent drop. Was hit based on its exposure to natural gas and the drop in gas prices. Feels the distributions are sustainable and is very bullish on natural gas for the longer term. | 2006-03-23 | |
| DON'T BUY | 22.880 | Michele Robitaille | Shining Bank announced distribution cuts today. It is a gas levered trust. Need to be cautious with the companies that are relatively unhedged. Soft gas prices because of the mild winter putting pressure on companies like Shining Bank. Predicts weak gas prices over the next few months. There are better names in this sector to focus on. | 2006-03-17 | |
| WATCH | 23.330 | Leslie Lundquist | It had a really strong end to the year 2005, but 2006 has been a liitle difficult. There is a possibility that Shining Bank may have to reduce its distributions in the next couple of months. Weak gas prices have affected this company. This expert and her company are in the process of assessing the stock. This stocks may decrease further and this might be a better time to buy. If you are buying today you are not buying at its high. | 2006-03-04 | |
| VAGUE | 25.670 | Peter Brieger | Not their prime pick, but still good.
14% yield, likes management.
The "retrace depends on price of natural gas" | 2006-02-20 | |
| HOLD | 27.850 | Dean Orrico | 75/80% gas weighted. There has been downward pressure due to the decline in natural gas prices. Fundamentals are strong. | 2006-02-03 | |
| HOLD | 28.120 | John Stephenson | A pretty good name. Doesn't see a tremendous amount of growth in it right now. Across-the-board, it has one of the lower cost structures of the trusts. Well-managed. Focused on natural gas. Would prefer more diversified. | 2006-01-25 | |
| HOLD | 29.000 | Glenn MacNeill, P.Eng. | A gas prodcuer enjoying very high prices at the moment. Likes it, but not a favourite. A market perform. | 2005-11-30 | |
| BUY | 25.610 | Peter Brieger | Its management is one of the best in the trade. Very gas oriented. Spending less on CapX and distributions than they are taking in which is good. There is a modest decline of about 3% 06/05 in production. | 2005-11-15 | |
| BUY | 25.220 | Patrick Kim | Has had a rough ride over the last couple of weeks, but natural gas is still over $11. This company will take advantage of that. One of the best plays if you want exposure to natural gas pricing. | 2005-11-04 | |
| BUY | 26.250 | Michael Simpson, CFA | Bullish on natural gas. Good price. | 2005-10-07 | |
| BUY | 25.860 | Dean Orrico | Reserve life is in the 9.5/10 year range. About 75% natural gas. Management team has done a fantastic job in replacing production. A good quality trust. | 2005-09-30 | |
| BUY | 24.940 | Leslie Lundquist | An oil and gas producer, but more focused on gas. Always seems a bit expensive relative to its peers but consistantly surprises on the upside. | 2005-09-16 | |
| HOLD | 24.500 | Dean Orrico | Good quality management with a history of growing distributions. Excellent track record. Has had a bit of a run here, so not a bad idea to take some profits, but would sell all of it. Has a reasonable payout ratio. | 2005-07-29 | |
| WEAK BUY | 21.860 | Glenn MacNeill, P.Eng. | Buying the assets of Blizzard (BZZ-T) at a fairly hefty price. | 2005-07-08 | |
| BUY | 21.580 | Michael Sprung | Longer term, it looks well positioned. Looks competitively priced. | 2005-06-24 | |
| BUY | 20.820 | Peter Brieger | One of his favourites in the natural gas space. Good management. Have a very large position of undeveloped land for exploration. | 2005-05-18 | |
| WEAK BUY | 21.000 | Sandy McIntyre | Over the years has been one of the better managed trusts. A gas weighted trust. Disciplined users of capital. He is more biased towards oil weighted trusts. Tries to buy BTU's in the most cost efficient way possible, so he doesn't currently own this trust. | 2005-05-13 | |
| BUY on WEAKNESS | 21.190 | David Cockfield | Bought more when it dipped under $20. Under a $20 it's a Buy. Pretty reasonable hold. Good management. | 2005-05-12 | |
| BUY | 20.750 | Glenn MacNeill, P.Eng. | Gas oriented trust. Paying just under 14%. Has been soft lately like a number of the other trusts. Pretty good buy at these levels. | 2005-04-29 | |
| HOLD | 21.510 | Dean Orrico | Has had a history of making good acquisitions. Looking at proven reserves it's less than the average in the industry. They'll have to put more money to work to maintain production which is not a good sign. | 2005-04-22 | |
| HOLD | 20.130 | Robert Lauzon | Very gas weighted. He's constructive on gas prices. Canadian gas supply has now peaked. If it's in a taxable account, hold as there won't be much in capital gains, but if it's in an RRSP, consider switching to another gas weighted play like Ketch (KER.UN-T). | 2005-04-08 | |
| DON'T BUY | 21.110 | Dean Orrico | You want to keep an eye on it these days. Relatively high payout ratio and trades at a significant premium to its peers. If you see a run up, consider taking some profits. | 2005-04-01 | |
| BUY | 21.800 | Matt Baillie | Have a large undrilled land base which means they can grow by the drill bit. Because of its size, growth by the drill bit is not as important as making acquisitions. A good play on gas. | 2005-03-16 | |
| HOLD | 22.510 | Sandy McIntyre | Good company, expensive. | 2005-03-04 | |
| BUY | 22.700 | Dean Orrico | Good quality management team. Reserve Life Index slightly less than 10 years. 85/90% payout ratio. | 2005-02-25 | |
| HOLD | 22.650 | Peter Brieger | Has one of the best managements in the business. They're going to have slippage in production this year and next of around 5/8%, so doesn't meet their criteria. Reserve life of about 9 years. Have an enormous land position. | 2005-02-24 | |
| DON'T BUY | 22.650 | Bill Shaw | Principally on the gas side in its production profile. If he had to choose, it would be for the gassier as opposed to the oil side of things. Concerned that the payout ratio is almost 100%. Expensive compared to its peers. | 2005-02-22 | |
| DON'T BUY | 23.050 | Greg Guichon | Have recently sold their position and replaced it with an oil/gas producer StarPoint Energy Trust (SPN.UN-T). | 2005-02-11 | |
| BUY | 21.270 | Leslie Lundquist | Weighted towards natural gas rather than oil. Distributions are stable. Not cheap. Don't expect the super returns they gave in the past. A nice reasonable stable position in a natural gas portfiolio. | 2005-01-10 | |
| DON'T BUY | 21.000 | Blair Wilson | The majority of its production comes from natural gas. A larger cap fund. Has a 3-sector underperfom with an $18.75 target price which would give you a flat return over the next year or so. | 2005-01-07 | |
| BUY | 22.000 | Robert Lauzon | A natural gas weighted trust. Its valuation is a bit stretched, but it's a premier name and you pay for what you get. | 2004-12-24 | |
| BUY | 22.370 | Garth Jestley | Has done well. Good management. Reserve life of about 10 years. | 2004-10-29 | |
| VAGUE | 22.100 | Greg Guichon | Volatility factor in oil/gas has really expanded in the last few months. Gas prices are very strong for this time of year. If overweight, be a slow seller. | 2004-10-08 | |
| BUY | 22.710 | Leslie Lundquist | Has been giving a good income and should continue to do so. | 2004-10-07 | |
| HOLD | 22.000 | Blair Wilson | Likes the story, but have a neutral recommendation on it. Sector perform. Likes their gas exposure. | 2004-10-01 | |
| VAGUE | 20.410 | Brian Prokop | Very conservatively and well run. One of the top performers in royalty trusts. If you own consider diversifying into something a little more oily. 13.5% yield. | 2004-09-15 | |
| BUY | 19.880 | Matt Baillie | A great gas play. Well run company. | 2004-09-09 | |
| VAGUE | 19.450 | Blair Wilson | Concern about the energy level. At this point, they got a solid market cap. | 2004-08-31 | |
| WAIT | 19.780 | David Cockfield | Has taken a run up recently and would like to see a pullback before buying. Would sit on the sideline in case there is weakness in energy prices. Good management. | 2004-07-26 | |
| BUY | 18.980 | John Priestman | A core holding. Has retained its reserve life index through acquisitions. | 2004-05-26 | |
| BUY | 18.850 | Dean Orrico | Good-quality management team. Reserve life of around 10 years. Made an excellent acquisition late last year. Has been trading at a premium to net asset value. | 2004-05-05 | |
| DON'T BUY | 17.390 | Peter Brieger | Prefers others because of the increase in reserves and production on a per unit basis. | 2004-03-16 | |
| HOLD | 16.900 | Ben Cheng | Oil and gas trusts have been declining because of a ruling from the Alberta Energy Board. | 2004-02-05 | |
| STRONG BUY | 17.330 | Peter Brieger | Continue to hold. On any pull back we would buy. Maybe $16 | 2004-02-04 | |
| BUY on WEAKNESS | 16.610 | Peter Brieger | Still likes. Sold some of their holdings as a hedge against a potential distribution cut by gas oriented trusts. Put the proceeds into Peyto, which has more exploration potential. Would buy on weakness, under $16. | 2003-10-15 | |
| BUY | 16.440 | David Baskin | Natural gas prices have dropped so price of the stock has dropped. Bullish on natural gas. A good price. | 2003-10-08 | |
| HOLD | 16.440 | Peter Brieger | Has been under pressure because there is talk of distributions dropping from $2.62 to $2.12 next year. This is based on a prediction of lower oil prices. They have a lot of development exploration potential. Would buy on weakness. | 2003-10-08 | |
| DON'T BUY | 17.000 | Leslie Lundquist | Reserve life is under 10 years, but comfortable with it. Fully priced. | 2003-09-05 | |
| DON'T BUY | 17.500 | Glenn MacNeill, P.Eng. | Well-run company.Has had a great run and is pretty fully valued now. | 2003-08-21 | |
| DON'T BUY | 17.150 | Bill Shaw | Production continues to grow. Getting close to fair value. | 2003-07-09 | |
| BUY | 17.300 | Garth Jestley | Well managed and positive on the outlook for gas. | 2003-06-25 | |
| BUY | 16.630 | Gavin Graham | Likes gas. Pays out most of their revenues. | 2003-06-18 | |
| BUY on WEAKNESS | 16.850 | Peter Brieger | Likes natural gas. Good management team. Keeping their debt down. Looking for a $2.00 distribution. Buy below $16. | 2003-06-16 | |
| BUY | 16.700 | Peter Brieger | | 2003-06-03 | |
Experts that have talked about Shiningbank Energy Income Fund
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