pengrowth
PENGROWTH ENERGY CORP. $8.96 (Toronto symbol PGF; Aggressive Growth Portfolio, Resources sector; Shares outstanding: 360.3 million; Market cap: $3.2 billion; Price-to-sales ratio: 2.1; Dividend yield: 9.4%; TSINetwork Rating: Average; www.pengrowth.com) has a long history of using acquisitions to expand, which adds risk. However, these purchases have increased its reserves and cash flow.
Its latest acquisition is NAL Energy Corp. (Toronto symbol NAE). NAL investors will receive 0.86 of a Pengrowth common share for each share they hold. That will give them 26% of the combined company. The deal should close by May 31, 2012.
Adding NAL’s properties in Alberta and B.C. (54% natural gas and 46% oil) will increase Pengrowth’s projected 2012 production by about 16%, to between 86,000 and 89,000 barrels of oil equivalent a day.
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Its latest acquisition is NAL Energy Corp. (Toronto symbol NAE). NAL investors will receive 0.86 of a Pengrowth common share for each share they hold. That will give them 26% of the combined company. The deal should close by May 31, 2012.
Adding NAL’s properties in Alberta and B.C. (54% natural gas and 46% oil) will increase Pengrowth’s projected 2012 production by about 16%, to between 86,000 and 89,000 barrels of oil equivalent a day.
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PENGROWTH ENERGY CORP. $8.96 (Toronto symbol PGF; Aggressive Growth Portfolio, Resources sector; Shares outstanding: 360.3 million; Market cap: $3.2 billion; Price-to-sales ratio: 2.1; Dividend yield: 9.4%; TSINetwork Rating: Average; www.pengrowth.com) has a long history of using acquisitions to expand, which adds risk. However, these purchases have increased its reserves and cash flow. Its latest acquisition is NAL Energy Corp. (Toronto symbol NAE). NAL investors will receive 0.86 of a Pengrowth common share for each share they hold. That will give them 26% of the combined company. The deal should close by May 31, 2012. Adding NAL’s properties in Alberta and B.C. (54% natural gas and 46% oil) will increase Pengrowth’s projected 2012 production by about 16%, to between 86,000 and 89,000 barrels of oil equivalent a day....
PENGROWTH ENERGY $9.12 (Toronto symbol PGF; Shares outstanding: 329.3 million; Market cap: $3.0 billion; TSINetwork Rating: Average; Dividend yield: 9.2%; www.pengrowth.com) is buying rival oil producer NAL Energy Corp. (Toronto symbol NAE) in an all-stock transaction. NAL shareholders and regulators must still approve the plan, but the companies aim to complete the merger by May 31, 2012. Adding NAL’s properties in Alberta and B.C. (54% natural gas and 46% oil) will increase Pengrowth’s projected 2012 production to between 86,000 and 89,000 barrels of oil equivalent a day from its earlier range of 74,500 to 76,500 barrels....
PENGROWTH ENERGY $10.09 (Toronto symbol PGF; Shares outstanding: 329.3 million; Market cap: $3.3 billion; TSINetwork Rating: Average; Dividend yield: 8.3%; www.pengrowth.com) plans to invest $625
million to develop its properties in 2012. That’s up 3% from the $607 million it spent in 2011.
Pengrowth will spend about 40% of these funds on its Swan Hills light oil project in Alberta. The rest will go toward its other oil projects, including its Lindberg oil sands deposit. Due to low natural gas prices, the company will hold off on further investments in its gas properties this year.
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million to develop its properties in 2012. That’s up 3% from the $607 million it spent in 2011.
Pengrowth will spend about 40% of these funds on its Swan Hills light oil project in Alberta. The rest will go toward its other oil projects, including its Lindberg oil sands deposit. Due to low natural gas prices, the company will hold off on further investments in its gas properties this year.
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PENGROWTH ENERGY CORP., $9.78, Toronto symbol PGF, is buying rival oil producer NAL Energy Corp. (Toronto symbol NAE) in an all-stock transaction. Under the terms of the deal, NAL investors will receive 0.86 of a Pengrowth common share for each share they hold. That will give them 26% of the combined company. The plan needs shareholder and other approvals, but Pengrowth and NAL aim to complete the merger by May 31, 2012. Adding NAL’s properties in Alberta and B.C. (54% natural gas and 46% oil) will increase Pengrowth’s projected 2012 production to between 86,000 and 89,000 barrels of oil equivalent a day, from its earlier range of 74,500 to 76,500 barrels....
PENGROWTH ENERGY $10.09 (Toronto symbol PGF; Shares outstanding: 329.3 million; Market cap: $3.3 billion; TSINetwork Rating: Average; Dividend yield: 8.3%; www.pengrowth.com) plans to invest $625 million to develop its properties in 2012. That’s up 3% from the $607 million it spent in 2011. Pengrowth will spend about 40% of these funds on its Swan Hills light oil project in Alberta. The rest will go toward its other oil projects, including its Lindberg oil sands deposit. Due to low natural gas prices, the company will hold off on further investments in its gas properties this year....
PENGROWTH ENERGY CORP. $9.98 (Toronto symbol PGF; Shares outstanding: 329.3 million; Market cap: $3.3 billion; TSINetwork Rating: Average; Dividend yield: 8.4%; www.pengrowth.com) has improved its dividend
reinvestment plan (DRIP).
The company is now giving investors who are enrolled in the plan two options: they can reinvest their dividends in additional shares at a 5% discount to the market price, or they can receive a premium cash dividend equal to 102% of the regular dividend. Right now, Pengrowth pays monthly dividends of $0.07 a share. The annual rate of $0.84 yields 8.4%. The annual premium dividend rate of $0.86 yields 8.6%.
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reinvestment plan (DRIP).
The company is now giving investors who are enrolled in the plan two options: they can reinvest their dividends in additional shares at a 5% discount to the market price, or they can receive a premium cash dividend equal to 102% of the regular dividend. Right now, Pengrowth pays monthly dividends of $0.07 a share. The annual rate of $0.84 yields 8.4%. The annual premium dividend rate of $0.86 yields 8.6%.
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PENGROWTH ENERGY CORP. $9.90 (www.pengrowth.com) will focus on developing its western Canadian oil properties in 2012. Due to lower natural gas prices, it will hold off on further investments in its gas properties during the year. Buy.
TORSTAR CORP. $8.96 (www.torstar.com) recently bought Heartsong Presents Book Club, a publisher of Christian romance novels, for an undisclosed sum through its Harlequin book-publishing subsidiary. This purchase nicely complements Harlequin’s “Love Inspired” line of inspirational novels. Best Buy. PENGROWTH ENERGY CORP. $9.90 (www.pengrowth.com) will focus on developing its western Canadian oil properties in 2012. Due to lower natural gas prices, it will hold off on further investments in its gas properties during the year. Buy. ROYAL BANK OF CANADA $54 (www.rbc.com) has formed a new alliance with Shoppers Drug Mart, which operates over 1,200 drug stores in Canada. Under the deal, Shoppers’ customers can use a new Royal Bank Visa credit card to earn reward points on their purchases. The bank will also install 300 new automated teller machines in Shoppers’ stores. Buy.
PENGROWTH ENERGY CORP. $9.98 (Toronto symbol PGF; Shares outstanding: 329.3 million; Market cap: $3.3 billion; TSINetwork Rating: Average; Dividend yield: 8.4%; www.pengrowth.com) has improved its dividend reinvestment plan (DRIP). The company is now giving investors who are enrolled in the plan two options: they can reinvest their dividends in additional shares at a 5% discount to the market price, or they can receive a premium cash dividend equal to 102% of the regular dividend. Right now, Pengrowth pays monthly dividends of $0.07 a share. The annual rate of $0.84 yields 8.4%. The annual premium dividend rate of $0.86 yields 8.6%....