Citi Downgrades Permian Basin Royalty Trust (PBT) to Hold

Citi downgrades Permian Basin Royalty Trust (NYSE: PBT) from Buy to Hold. Price target increased from $17 to $20.
Citi analyst says, “The decision to lower our rating is based on the trust’s current valuation. The units have appreciated by nearly 39.5% since mid December through March 11, 2008 (e.g. which compares favorably [...]

Pengrowth Energy Trust “sector underperform,” target price raised

3:47a.m. - Peters & Co
NEW YORK, March 17 (newratings.com) - Analysts at Peters & Co maintain their “sector underperform” rating on Pengrowth Energy Trust (PGF.UN) and (PGH.NYS) NYSE. The 12-month target price has been raised to $17.
In a research note published on March 14, the analysts mention that the company’s [...]

Dollar Falls, Gold Rises in Europe

The U.S. dollar was down against other major currencies in European trading Friday. Gold rose.
The euro traded at $1.5612, up from $1.5587 late Thursday in New York. Earlier Friday, the euro notched a record high of $1.5651.
Later, in midday trading in New York, the euro fetched $1.5619.
Other dollar rates in Europe, compared with [...]

Should big trust payouts raise flags?

When an income trust begins to pay out close to all its cash flow in the form of cash distributions, should investors be concerned?
In the case of Canadian Oil Sands Trust COS-UN.TO, which raised its quarterly distribution to 75 cents from 55 cents, the answer according to the market appears to be no: The units [...]

Huge kite helps container ship across Atlantic

Inventor expects major drop in fuel costs and warming emissions

EPA
The ’Beluga SkySails’ leaves Tuesday on its maiden voyage from Bremerhaven, Germany, to Venezuela.

BERLIN - Oil at more than $90 a barrel is concentrating minds in the shipping industry. Higher fuel costs and mounting pressure to curb emissions are leading modern merchant fleets to rediscover the ancient power [...]

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