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Savings Experiment: Snow Removal"Provident Energy Trust (NYSE: PVX) is one of the 'best in class' income investments within the energy sector," says Bryan Perry in his The 25% Cash Machine.
"Provident had third-quarter results that illustrate the value of its diversified-energy portfolio, as it increased production and maintained stable distributions in the face of persistently weak natural gas prices and a rising Canadian dollar.
"Total funds flow from operations of $105 million (43 cents per unit) for the quarter underpinned stable distributions. The negative impact of weak natural gas prices and the rising Canadian dollar in the third quarter were partially offset by strong oil prices, higher production and midstream crack spreads.
"Consolidated oil and gas production in the third quarter increased by 26% over 2006 to 38,800 boe per day, which includes the results of acquisition and drilling success in Canada and acquisitions in the United States.
"In addition, PVX announced a November cash distribution of 12 cents (Canadian) per unit payable on Dec. 14, 2007. November's distribution will be paid to unitholders of record on Nov. 21, 2007, with an ex-distribution date of Nov. 19. The trust's current annualized cash distribution rate is $1.44 per trust unit.
"For unitholders receiving their distribution in U.S. funds, the November 2007 cash distribution will be approximately 13 cents (U.S.) per unit. The actual U.S. dollar distribution will depend on the Canadian/U.S. dollar exchange rate on the payment date and will be subject to applicable withholding taxes.
"In our view, PVX is one of the 'best-in-class' energy assets we can own for income. It consistently performs well on the top and bottom line and the stock shows it."
Each day, Steven Halpern's TheStockAdvisors.com website features the latest investment commentary and favorite stock picks of the nation's leading financial newsletter advisors.
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Reader Comments (Page 1 of 1)
12-01-2007 @ 5:57PM
b koelpin said...
Provident Energy Trust (PVX) is certainly a high yielding trust. Some of the others like (PGH) actually have higher dividend yields.
One of the trust directories we use is from DividendInvestor.com. http://dividendinvestor.com/royaltytrusts.php
1-19-2008 @ 5:48PM
Nat said...
Re: PVX .... I own PVX and Enerplus and love the dividends.... BUT I find myself at a loss in trying to understand why both these stocks are down 25 to 35 % from their highs with oil moving up over $90 a barrel to record highs...
Anyone have an explanation???