PGF.UN
PENGROWTH ENERGY TRUST $12.96 (Toronto symbol PGF.UN; Units outstanding: 320.1 million; Market cap: $4.1 billion; TSINetwork Rating: Average; Divid. yield: 6.5%; www.pengrowth.com) will convert to a dividend-paying corporation on January 17, 2011. It will then trade as Pengrowth Energy Corporation under the symbol “PGH”.
Pengrowth has $2.7 billion of tax pools it can use to offset income taxes. It expects to …read more »
BCE INC. $33 (www.bce.ca) earned $621 million before unusual items in the three months ended September 30, 2010, down 4.3% from $649 million a year earlier. Because of fewer shares outstanding, earnings per share fell 2.4%, to $0.82 from $0.84. The company had a lower tax bill in the year-earlier period. This was the main reason behind the lower earnings. …read more »
PENGROWTH ENERGY TRUST $12.42 (Toronto symbol PGF.UN; Units outstanding: 320.1 million; Market cap: $4.0 billion; SI Rating: Average; Dividend yield: 6.8%; www.pengrowth.com) produces oil and natural gas in western Canada and off the Nova Scotia coast. Its production is weighted 51% to oil and 49% to gas.
In the three months ended June 30, 2010, revenue rose to $337 million …read more »
PENGROWTH ENERGY TRUST $12 (Toronto symbol PGF.UN; Aggressive Growth Portfolio, Resources sector; Units outstanding: 289.8 million; Market cap: $3.5 billion; Price-to-sales ratio: 2.4; Dividend yield: 7.0%; SI Rating: Average) has proven oil and natural-gas reserves that should last 8.3 years at current production rates. However, it hopes to expand its reserves by doing more drilling on its existing fields in …read more »
PENGROWTH ENERGY TRUST $10.26 (Toronto symbol PGF.UN; Units outstanding: 289.0 million; Market cap: $3.0 billion; SI Rating: Average) has sold 28.8 million trust units to the public for $10.40 each.
The sale generated roughly $285 million. Pengrowth will put this toward its $1.4-billion long-term debt, which is 48.3% of its $2.9-billion market cap.
The new units increased the total outstanding by roughly …read more »
BELL ALIANT REGIONAL COMMUNICATIONS INCOME FUND $26.35 (Toronto symbol
BA.UN: Units outstanding: 127.2 million; Market cap: $3.4 billion; SI Rating: Above average) reports that its revenue fell 1.2% in the three months ended March 31, 2009, to $828 million from $837.5 million. Lower local and long distance revenue declines offset strong demand for high-speed Internet and data services.
However, earnings rose 10.1%, …read more »
PENGROWTH ENERGY TRUST $6.82 (Toronto symbol PGF.UN; Shares outstanding: 256.5 million; Market cap: $1.7 billion; SI Rating: Average) has cut its monthly distribution by 41.2%, to $0.10 a unit from $0.17. The cut will let it conserve cash until oil and natural gas prices rebound. Despite the reduction, the new annual rate of $1.20 still yields a high 17.6%.
The lower …read more »
IMPERIAL OIL LTD. $39 (Toronto symbol IMO) plans to increase capital spending by 60% in 2009. Most of the extra spending is for its proposed Kearl Lake oil-sands project in northern Alberta. Imperial owns 70% of Kearl, while parent company ExxonMobil Corp. owns the rest. Kearl’s reserves should last 40 years, and moving ahead with it makes sense for Imperial …read more »
Many of our recommendations have dropped sharply in the past few months, along with the overall market. Here are 10 stocks that we feel have strong rebound potential in 2009.
CANADIAN IMPERIAL BANK OF COMMERCE $49 (Toronto symbol CM; Conservative Growth Portfolio, Finance sector; Shares outstanding: 380.8 million; Market cap: $18.7 billion; Price-to-sales ratio: 1.5; SI Rating: Above average) is down …read more »
PENGROWTH ENERGY TRUST $9.90 (Toronto symbol PGF.UN; Shares outstanding: 255.66 million; Market cap: $2.7 billion; SI Rating: Average) produces oil and gas in western Canada, as well as offshore Nova Scotia. Production is weighted 49% toward oil and liquids and 51% natural gas.
Pengrowth’s debt stands at 50% of market cap. To conserve cash in the face of lower oil and …read more »
