Steady production supports high payout

PENGROWTH ENERGY TRUST $11 (Toronto symbol PGF.UN; Aggressive Growth Portfolio, Resources sector; Units outstanding: 291.3 million; Market cap: $3.2 billion; Price-to-sales ratio: 2.1; Dividend yield: 7.6%; SI Rating: Average) is one of North America’s largest energy royalty trusts. Its main properties are in Alberta, B.C…. Read More

High income at reasonable risk

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… Read More

Royalty trusts: Crescent Point aims to grow

CRESCENT POINT ENERGY TRUST $35 (Toronto symbol CPG.UN; SI Rating: Speculative) continues to use its strong cash flow to boost production, increase exploration and development activities and raise distributions.

Crescent Point has announced an 89% increase in its 2008 exploration and development budget, to $425 million… Read More