BMR Updates Outlook on Canadian Energy Trusts: Penn West, Baytex, Pengrowth, Provident & Enerplus

Oct 13, 2010, 09:51 ET from Indie Research Advisors, LLC

PRINCETON, N.J., Oct. 13 /PRNewswire/ -- The Bull Market Report (BMR) (, an online investment newsletter focused on long-term growth and income-generating stocks, has provided subscribers with updated coverage of several Canadian Energy trusts, including Penn West (NYSE: PWE), Baytex (NYSE: BTE), Pengrowth (NYSE: PGH), Provident (NYSE: PVX), and Enerplus (NYSE: ERF).

In addition to its daily newsletter and Recommended List of stocks, BMR publishes six earnings previews each quarter and several special reports each year. Its annual "High Yield" special report comes out before the new year, while its MLP special report comes out mid-year.

As a subscriber, you'll also gain access to our Recommended List of stocks, which was up 40% in 2009 and also outperformed the S&P by 15% in 2008. Through the end of September 2010, the Recommended List was once again beating the S&P, up 9.4% year to date.

Start your 14-day free trial today:

In its daily report, BMR wrote: "The age of the Canadian energy trusts is rapidly drawing to a close as they will lose their special tax status in Canada beginning on January 1st, 2011. Most of the trusts have announced plans to convert to corporations. One trust to recently make the announcement was Enerplus Resources Fund, which put out its plan on September 30th.

"When we last looked at Enerplus in August, it was coming off a decent second quarter that featured a lot of moving parts, including asset acquisitions and dispositions. Operationally, the company has enjoyed success in the Bakken, which stretches from North Dakota into Saskatchewan, and is a tight oil formation. It has also had encouraging results in the Marcellus Shale where it has been growing its presence."

BMR looked at the following topics, among others:

-- After saying Penn West was starting to look attractive in the $18s following its dividend cut, what are BMR's latest thoughts on the stock now that it has rallied to around $22?

-- Baytex has been BMR's favorite Canadian energy trust ever since editor Geoff Seiler named the stock one of his top high-yield stock picks for 2009 when it was trading for only $12.69. After telling subscribers to hold onto the stock for 2010, what are his latest thoughts on Baytex now that it's trading near $38?  

-- BMR turned positive on Pengrowth following its acquisition of Monterey Exploration in July with the stock trading in the low $9s? With the stock up 23% since that call, at what price does BMR think the stock can be accumulated and what is their price target on the stock?

-- In March, BMR editor Geoff Seiler wrote: "With the upstream business continuing to shrink, Provident should consider selling it to continue to pay down its debt and focus on the midstream business." Now that the company has done exactly that, what are BMR's latest thoughts on the stock?

-- What does BMR think of Enerplus' move to sell its stake in the Kirby Oil Sands region? Where do opportunities for the company lie? What price target would BMR put on the stock?

About BMR:

Launched in 1997, The Bull Market Report has a strong track record of creating wealth for its subscribers by providing sound, long-term investing advice. BMR's Recommended List includes about 50 companies across all major industries, including Financials, Healthcare, Energy, Technology, and Retail, among others. BMR is one of the oldest continuously published investment newsletters online, and its Recommended List has consistently outperformed the major market indices.

NOTE: This release was published by Indie Research Advisors, LLC, a registered investment advisor with CRD #131926. Interested parties may visit for additional information. Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.


Indie Research Advisors, LLC

Marcie Martin, +1-888-278-5515

SOURCE Indie Research Advisors, LLC