PNW

Loading...
Symbols:
Authors:
comments9
  • Positive ratings +1
  • Negative ratings 0
  • Net rating +1 or 100 %
Filter comments by:
Highest rated Latest comments
Or filter by symbol:

Latest Comments
9 Comments

    • Tue Aug 12th 20:49 PM
      |
      Rating: 0 0
      Commented on:
      General Discussion on PDS
      Buy. Virtually zero debt, non-compete goes off right right now (from sale of non-Candian assets), largest owner of rigs in Canada. And, they blew the last quarter, which has created an entry point. OVer 7% dividend too:)


      SeekingAlpha Editors wrote:

      > Is this a buy or a sell?
      View forum topic »
    • Tue Aug 12th 20:36 PM
      |
      Rating: 0 0
      Commented on:
      Canadian Oil Sands, Penn West Energy Protected on the Downside
      COSWF and ERF have both just made significant increases in their dividend payouts. PWE has in recent past hedged too much too low. Hopefully that will create an opportunity in future. In answer to Paul's question, PWE has almost doubled their revenue, known reserves and future income tax credits when they took over CNE.

      What all the Trusts mentioned need is ONE BIG BUY OUT AT A 50% PREMIUM. If McDep is right, which I think he is, the assets (known reserves) are materially undervalued. Personally, I will be surprised if we don't see multiple buyouts in next 18 months; in part motivated by the tax law change. The big dogs in the industry, Exxon, Chevron, BP, etc. need to increase known reserves and the most certain way to do that is to simply "buy" know reserves. This especially true if you think better to have your stash close to home vs. in a far away desert.
      View article »
    • Tue Aug 12th 20:19 PM
      |
      Rating: 0 0
      Commented on:
      High-Yield Canadian Royalty Trusts: What's the Catch?
      I think it is more accurate to say "tax changes" rather than "proposed tax changes". The changes will take effect in 2011. I like HTE but be aware they have stated a desire to greatly expand their refining capacity. The proposed investment is $2 Billion. They are actively looking for a partner. This is not necessarily a negative, but it does create some uncertainty. It is not a pure energy in the ground play. I like ERF and Canadian Oil Sands. CIBC just published a very interesting article about the Trusts, incluing their favorates.
      UNG it the Nat Gas ETF. If you pull up a chart of UNG and these trusts you will see they track very closely with Nat Gas; which makes sense.
      View article »
    • Wed Jul 9th 23:07 PM
      |
      Rating: 0 0
      Commented on:
      Year-End List of Monthly Dividend Stocks (updated)
      Spot on, dividends are a beautiful thing. Two thoughts relative to your reservations about Canadian Royalty trusts.
      1. Yes, they are taxable in 2011, but most (ERF for example) have enought tax credits currently in place to be effectively tax free for many years after 2011.
      2. In 2011 the 15% tax withholding on the dividends by the Canadian Government for US tax payers does go away. Also, part of that withholding is refundabled when you file you tax return...amount depends on % the foreign dividends are of your total taxable income. And, even if you simply reduce the dividend by 15% you still have a dividend yield over 10% on many of the trust. Side note, if you happend to have owned the trusts for a number of years you have watch the value of the looney vs. the $ significantly increase the dividend yield. Some think futher looney appreciation is in the cards.


      On May 31 02:07 AM FrankGiaa wrote:

      > Dividend stocks are a beautiful thing. The information about them
      >
      > however is scattered across the web to where it is difficult to find
      >
      > them and chose the right ones for your portfolio.
      > When you select them you want to diversify in different sectors.
      > Also
      > one has to look ahead and avoid costly mistakes – 2 examples are:
      >
      >
      >
      > A. Canadian energy royalty trusts – good monthly dividends right
      > now,
      > but 2 things turned me away from these stocks:
      >
      >
      > 1. You pay 15% foreign tax each month on the received dividend <br/>2.
      > Tax laws in Canada are changing in 2011 to start taxing the trusts
      >
      > and to significantly increase the dividend tax the foreign investors
      >
      > will be paying
      >
      >
      > B. US OIL royalty trusts – the problem here is that these stocks
      > will
      > exist only until the property they are linked to has oil to produce.
      >
      > Ones oil is gone trust disappears and so is your money. So you have
      > to
      > cash out before that happens. I am not good at timing these events
      > so
      > I decided to stay away.
      > So after doing my research on dividend paying stocks I chose these
      > 6
      > sectors to get in:
      >
      >
      > Telecommunications, Energy, Financials, Tobacco, Oil/Drilling and
      >
      > Shipping
      > I went with these stocks, that I believe will give me best long term
      >
      > dividend returns: CEL, CPL, PM, DPO, IID, RSF, GDOCF, ITKSF and SDRLF
      >
      >
      >
      > 1. CEL - Cellcom Israel Ltd. (Cellcom) is a provider of cellular
      >
      > communications services in Israel
      >
      >
      > 2. CPL - CPFL Energia SA is a holding company engaged, through its
      >
      > subsidiaries, in the distribution, generation and commercialization
      > of
      > the electricity in Brazil
      >
      >
      > 3. DPO - Dow 30 Enhanced Premium & Income Fund Inc. (the Fund) is
      > a
      > diversified, closed-end management investment company. Monthly <br/>dividend
      > payer
      >
      >
      > 4. IID - ING International High Dividend Equity Income Fund (the
      > Fund)
      > is a non-diversified, closed-end management investment company. Pays
      >
      > good monthly dividend
      >
      >
      > 5. RSF - RMK Strategic Income Fund, Inc. (the Fund) is a diversified,
      >
      > closed-end management investment company. Pays huge monthly dividend
      >
      >
      >
      > 6. GDOCF – A Bulk shipper with a huge dividend - www.goldenocean.no/.
      >
      > Best thing – stock is still under $7. Frontline (FRO) spin-off child
      >
      >
      >
      > 7. ITKSF – A petroleum tanker Company, no dividend yet but surely
      > one
      > is coming as it is a Frontline (FRO) child -
      > www.frontline.bm/repor.... Stock is
      >
      > under 2 bucks, but it started trading just recently after Frontline
      >
      > (FRO) spin off.
      >
      >
      > 8. SDRLF – Deep water oil drilling Company - www.seadrill.com/,
      >
      > good dividend projected to largely increase in 2009
      >
      >
      > 9. PM – Philip Morris international – no introduction needed here.
      >
      > needs also a growth stock piece as well. Stocks such as V, RIO, PBR,
      >
      > UNP, etc. are a nice addition as well.
      >
      >
      > Well that is all and I hope it helps in your dividend hunting journey
      >
      >
      >
      > Good luck and best regards.
      >
      >
      View article »
    • Wed Jul 9th 14:26 PM
      |
      Rating: 0 0
      Commented on:
      High-Yield Canadian Royalty Trusts: What's the Catch?
      Take a look ag BGR, a closed end fund trading at over a 17% disocunt to net asset value today. It holds many of the trusts.
      View article »
    • Wed Jul 2nd 19:10 PM
      |
      Rating: 0 0
      Commented on:
      Will Grey Wolf Accept Precision Drilling's New Offer?
      Is PDS chasing wolves just to avoid becoming lunch for a bigger, maybe international, company? It looks to me like PDS has extremely low debt, strong and increasing free cash flow, and is tradiing a a relatively low multiple. It seems to have a strong managment team, very clean strategic direction, and is in a sweet spot for future growth/profit. Given the 2011 trust structure tax change, they might be somewhat disadvantged in their current structure. Trusts seems to challenge accumulating capital (and rasiing capital) for expansion. I guess if they bought Gray Wolf they could move incorporation to the US?
      Assuming that the PDS management team ARE gifted strategic thinkers, I wonder if there is a "Part Two" to the Gray Wolf move?
      It might be argued that "if" PDS were to move South the valuation would jump significantly??
      View article »
    • Wed Jul 2nd 18:55 PM
      |
      Rating: +1 0
      Commented on:
      High-Yield Canadian Royalty Trusts: What's the Catch?
      To: River
      Suggest you pick one of the trust finds, ERF, PWE, PVX, and go to their "Corporate Website". You can find the site using google search, or go to one of the many financial sites an you will find the link to the corporate site. Each of the companies do a good job of explaining how the firm is impacted by the 2011 tax change and all the the details needed by an investor. Most even give you the chance to send an angry letter to a politician. This site is used by both US and Canadian investors, and each has different issues.

      General Comment: Alberta significantly increased it's extraction tax recently, which had a major impact on the energy Trusts. This topic was covered well in the "Globe" newspaper which if free on-line and has an investor site "GlobeInvestor.co... which is very affordable (I think $13? a month)/ GlobeInvestor does a very good job covering Canadian equities and offers the best search engine I have found for researching Canadian stocks that do not trade in the US.

      View article »
    • Mon Jun 30th 16:35 PM
      |
      Rating: 0 0
      Commented on:
      High-Yield Canadian Royalty Trusts: What's the Catch?
      Generally you ignore "earning" for the trusts and look at free cash flow and dividend coverage from free cash flow. As trusts who will be taxed in 2011 they do not want to show a profit.
      FYI, the trust are required to show their financial reports just as if the 2011 tax increase was currently in place; but they add back to cash flow the tax liability.
      "Known Reserves" is key to understanding the energy trusts. It can be express in volume of know oil/gas in ground or by that number divided by expected prodution to give you "Years of Reserves". Most often the years of reserves range from 8 to 13. But, they do bid on new leases and add to their "known reserves". The point being, not just a dividend play, there is real potential for increase in stock price as the know reserve goes up in value along with energy prices.
      When decididng between PGH, PVX, COSWF, PWE, HTE, DAYYF, reasearch the the current value for the assets...several trade at 75% of the value for the know reserve...
      View article »
    • Mon Jun 30th 16:18 PM
      |
      Rating: 0 0
      Commented on:
      High-Yield Canadian Royalty Trusts: What's the Catch?
      Couple of points. In 2011 Canada will no longer withhold the 15% they currently take (and you file to get part back). Virtually all the energy trusts sell a significant portion of their production (nat gas). For example, 50% is sold on a futures contract at $6 unit. Today that same gas trades over $13. So, there is an expection of significant cash/earning flow as old contracts expire. Last point is several trusts have announce they already have enough tax credits in place to be tax free well beyone 2011.
      FYI, unlike US Trusts, the Candian Trusts buy new assets to replace depletion. In US Trusts just end.
      View article »