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Low oil and natural gas prices have prompted Pengrowth to lower production and cut its distributions. However, these moves put the trust in a strong position to quickly increase cash flow and distributions when prices rebound. As well, Pengrowth’s reasonable debt should let it take advantage of depressed energy prices by making acquisitions, probably at bargain prices.
Pengrowth has been around …read more »
PENGROWTH ENERGY TRUST $7.13 (Toronto symbol PGF.UN; Aggressive Growth Portfolio, Resources sector; Units outstanding: 256.1 million; Market cap: $1.8 billion; Price-to-sales ratio: 1.0; SI Rating: Average) is one of North America’s largest energy royalty trusts. It owns all or part of several oil and natural-gas properties in Alberta, British Columbia and Saskatchewan.
Properties that Pengrowth operates account for 63% of its …read more »
Posted by: Pat McKeough Filed in: Aggressive Investing, Commodity Investments, Growth Stocks, Income Investing, Income Trusts, Royalty Trusts
MASTERS ENERGY $1.73 (Toronto symbol MSY; SI Rating: Speculative) (403-290-1785; www.mastersenergy.com; Shares outstanding: 15.4 million; Market cap: $26.6 million) jumped over 40% recently after it received a friendly $41.4-million takeover offer from ZARGON ENERGY TRUST $15.05 (Toronto symbol ZAR.UN; SI Rating: Speculative) (403-264-9992; www.zargon.ca; Units outstanding: 18.6 million; Market cap: $279.9 million). To fund the purchase, Zargon plans to pay …read more »
Posted by: Pat McKeough Filed in: Aggressive Investing, Bargain Stocks, Commodity Investments, Growth Stocks, Income Investing, Income Trusts, Royalty Trusts
TRUE ENERGY TRUST $1.25 (Toronto symbol TUI.UN; SI Rating: Speculative) (403-264-8875; www.trueenergy.ab.ca; Units outstanding: 78.5 million; Market cap: $98.1 million) produces oil and gas, mostly in Alberta and Saskatchewan. About 65% of output is gas.
In the three months ended September 30, 2008, production fell 6.4%, to 11,263 barrels of oil equivalent per day, from 14,096 barrels. The decline came because …read more »
Posted by: Pat McKeough Filed in: Aggressive Investing, Bargain Stocks, Commodity Investments, Growth Stocks, Income Investing, Income Trusts, Royalty Trusts
TRILOGY ENERGY TRUST $5.41 (Toronto symbol TET.UN; SI Rating: Speculative) (403-290-2900; www.trilogyenergy.com; Units outstanding: 95.4 million; Market cap: $516.3 million) holds oil and gas properties in the Kaybob and Grande Prairie areas of central Alberta. Trilogy’s production is weighted approximately 80% toward natural gas and 20% to oil.
In the three months ended September 30, 2008, Trilogy’s production rose 3.1%, to …read more »
Posted by: Pat McKeough Filed in: Aggressive Investing, Bargain Stocks, Commodity Investments, Growth Stocks, Income Investing, Income Trusts, Royalty Trusts
Oil and gas trusts are mostly down lately, along with crude oil and natural gas prices.
These three trusts are now cheap in relation to their forecast 2009 cash flows, which are based on those lower oil and gas prices.
ZARGON ENERGY TRUST $14.87 (Toronto symbol ZAR.UN; SI Rating: Speculative) (403-264-9992; www.zargon.ca; Units outstanding: 18.4 million; Market cap: $274.1 million) has oil …read more »
Posted by: Pat McKeough Filed in: Aggressive Investing, Commodity Investments, Growth Stocks, Income Investing, Income Trusts, Royalty Trusts
ZARGON ENERGY TRUST $14.87 (Toronto symbol ZAR.UN; SI Rating: Speculative) (403-264-9992; www.zargon.ca; Units outstanding: 18.4 million; Market cap: $274.1 million) has oil and gas production assets in Alberta, Manitoba, Saskatchewan and North Dakota. Output is weighted 53% toward natural gas and 47% to oil.
In the three months ended September 30, 2008, Zargon’s production rose 9.9%, to 9,340 barrels of oil …read more »
Posted by: Pat McKeough Filed in: Aggressive Investing, Growth Stocks, Income Investing, Income Trusts, Royalty Trusts
PENN WEST ENERGY TRUST $16.04 (Toronto symbol PWT.UN; Shares outstanding: 384.4 million; Market cap: $6.2 billion; SI Rating: Speculative) is the largest conventional oil and gas trust in North America.
In the three months ended September 30, 2008, Penn West’s revenue rose 113.6%, to $1.2 billion from $628 million, largely due to acquisitions. Cash flow per unit rose 20.1%, to $1.73 …read more »
Posted by: Pat McKeough Filed in: Aggressive Investing, Growth Stocks, Income Investing, Income Trusts, Royalty Trusts
PENGROWTH ENERGY TRUST $10.09 (Toronto symbol PGF.UN; Shares outstanding: 254.6 million; Market cap: $2.6 billion; SI Rating: Average) produces oil and gas in western Canada, as well as offshore Nova Scotia.
Pengrowth’s average daily production of 80,981 barrels of oil equivalent is weighted 49% toward oil and liquids and 51% natural gas.
In the three months ended September 30, 2008, Pengrowth’s revenue …read more »
Posted by: Pat McKeough Filed in: Aggressive Investing, Commodity Investments, Growth Stocks, Income Investing, Income Trusts, Royalty Trusts
ARC ENERGY TRUST $18.72 (Toronto symbol AET.UN; Shares outstanding: 215.3 million; Market cap: $4.0 billion; SI Rating: Speculative) produces oil and gas in western Canada.
In the three months ended September 30, 2008, ARC’s revenue rose 61.8%, to $485.7 million from $300.2 million. Cash flow per unit rose 36.5%, to $1.16 from $0.85. The rise in cash flow came largely from …read more »
Royalty Trusts
Royalty trusts derive income from royalties associated with the sale of oil, natural gas or minerals. These trusts often promise high yields compared to stocks and bonds, and involve far more risk than most investors realize. This is why Pat McKeough recommends so few of them (but he has managed to find some real gems among the ones he has recommended).
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