Yingli Green Energy Hold. Co. Ltd. (YGE), Cenovus Energy (CVE), WPX Energy (WPX), Oiltanking Partners (OILT), Natural Resource (NRP), Penn West Energy Trust (PWE) and QR Energy LP (QRE) had ratings changed or initiated on them.
Barclays Capital upgraded Cenovus Energy (CVE) from an "Equal Weight" rating to an "Overweight" rating. They have a price target of $41.00 on the company.
Barclays Capital upgraded WPX ENERGY INC (WPX) from an "Equal Weight" rating to an "Overweight" rating. They have a price target of $18.00 on the company.
Bank of America (BAC) downgraded Oiltanking Partners (OILT) from a "Buy" rating to a "Neutral" rating.
ThinkEquity downgraded Yingli Green Energy Hold. Co. Ltd. (YGE) from a "Hold" rating to a "Sell" ratng. The slashed their price target from $3.00 to $1.00 a share.
Dahlman Rose initiated coverage on Natural Resource (NRP). They placed a "Hold" rating on the company.
Deutsche Bank (DB) initiated coverage on Penn West Energy Trust (PWE). They placed a "Hold" rating on the company.
JPMorgan Chase (JPM) initiated coverage on QR Energy LP (QRE). They placed an "Overweight" rating and price target of $21.00 on the company.
Showing posts with label Penn West Energy Trust. Show all posts
Showing posts with label Penn West Energy Trust. Show all posts
Thursday, August 30, 2012
Monday, May 17, 2010
Precision Drilling Trust (NYSE:PDS), Penn West Energy (NYSE: PWE), Changing Converting Trust Model to Growth Stock Model
New Canadian laws are causing Canadian trusts like Precision Drilling Trust (NYSE:PDS) and Penn West Energy (NYSE:PWE) to change their models, moving from the high dividends offered to a growth stock model.
Canadian trusts were created for the purpose of paying out strong dividends in return for the favorable tax treatment they receive.
Now that the dividend yields will plummet, keep in mind you'll need to change to other investment vehicles as a result.
Penn West Energy is scheduled to convert sometime in 2011 or 2012, but check out whatever trusts you may be in to be sure to make the needed changes in respect to your investment goals.
Canadian trusts were created for the purpose of paying out strong dividends in return for the favorable tax treatment they receive.
Now that the dividend yields will plummet, keep in mind you'll need to change to other investment vehicles as a result.
Penn West Energy is scheduled to convert sometime in 2011 or 2012, but check out whatever trusts you may be in to be sure to make the needed changes in respect to your investment goals.
Thursday, May 13, 2010
Penn West Energy Trust (TSE:PWT-UN) Oil Sands Deal with China
Penn West Energy Trust (TSE:PWT-UN)(NYSE:PWE) has entered into a deal with China Investment Corp for $805 million, the second major deal in a year by the sovereign wealth fund from China for a Canadian company. Last year CIC took a 17.2 stake in Teck Resources (TSE:TCK-b), a major Canadian mining company.
Terms of the deal are China Investment will pay C$312 million up-front, and the another C$505 million for development of the oil sands project.
Penn West Energy is selling 45 percent of their stake to CIC in order to gain access to the cash they needed.
Penn's major contribution is the land they own in the oil sands region, which they'll use the cash to develop.
CIC wil also take a 5 percent stake in Penn West for C$435 million.
Assets held by Penn West in the oil sands is 237,000 acres.
Terms of the deal are China Investment will pay C$312 million up-front, and the another C$505 million for development of the oil sands project.
Penn West Energy is selling 45 percent of their stake to CIC in order to gain access to the cash they needed.
Penn's major contribution is the land they own in the oil sands region, which they'll use the cash to develop.
CIC wil also take a 5 percent stake in Penn West for C$435 million.
Assets held by Penn West in the oil sands is 237,000 acres.
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