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Linn Energy, LLC (LINE) Message Board

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  • jfredrogo jfredrogo May 10, 2012 7:44 PM Flag

    OT JACK

    Sorry jack, one more qestion, I am still in PNB quite heavily,what is your opinion of this stock at this time?

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    • jackhiller@ymail.com jackhiller May 10, 2012 8:25 PM Flag

      The whole Canadian resource sector is taking a beating--I know not why so severely. PBN completely turned around it financing issue, is now well capitalized and financed and is generating around a billion cash flow, with production building even as the hoirizontal fracked wells deplete quickly--but the market beats the stock down on every market dip. Considering that OXF has also been irrationaly beaten down to paying at a yield of over 20% (23% today) with the dist covered if not going to grow much, yesterday I reluctanlty sold my PBN to buy the higher yielding OXF for my IRA.

      Unlike Roger, I have been avoiding partnerships in my regular brokerage account, and traded for MTGE alone, which is my single holding.

      There is a latent threat that the SEC will decide later this year to terminate the REIT tax exempt status, with its study yet underway, but I doubt they will act before the election, because unions are invested in high yield REITS as well as state pension funds.

      Also, I doubt a R win would end the REIT tax exempt status, because, as Annaly has argued, the MREITs could eventually replace the Fed Agencies, if at somewhat higher mortgage rates.

 
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