TSX:HSE.PR.B - Post by User
Post by
shortUSA2on Nov 06, 2009 12:29am
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Post# 16459449
When the trusts convert...
When the trusts convert...I'm thinking HSE may start getting the respect it deserves when the oil and gas trusts begin converting to corporations. There will be distribution cuts and some of these newly minted corporations will opt for a growth strategy with much lower payouts. HSE should grab some of these income seeking investment dollars when the trust option disappears, more so than other seniors whose dividends are insignificant. In the meantime, a US listing seems like a no brainer. The other seniors are listed south of the border and I suspect this has a lot to do with why the market assigns them a higher valuation than HSE. Hard to believe this is trading at $28 bucks...essentially the same price it was at when oil was struggling to break $40.