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Rating: PGH
Sector Perform $8

Pengrowth Energy Trust (NYSE: PGH) rated to Sector Perform with price target $8 by RBC Capital Mkts

Friday,  May 9, 2014  12:00 AM ET by Lynn Gilbert

RBC Capital Mkts rated Pengrowth
Energy Trust (NYSE: PGH) to Sector Perform with price target $8.

Pengrowth Energy Trust (the Trust) is a Canada-based open-end investment trust. The purpose of the Trust is to directly and indirectly explore for, develop and hold interests in petroleum and natural gas properties, through investments in securities, royalty units, net profits interests and notes issued by subsidiaries of the Trust. The activities of Pengrowth Corporation (the Corporation) and its subsidiaries are financed by issuance of royalty units and interest bearing notes to the Trust and third party debt. The Trust owns all of the royalty units and 91% of the common shares of the Corporation. Pengrowth Management Limited is the Trust?s investment manager.

RBC Capital Markets is an international corporate and investment bank that provides innovative solutions and a focused set of products and services to institutions, corporations, governments and high net worth clients around the world. With nearly 3,700 professional and support staff, we operate out of 75 offices in 15 countries and deliver our products and services through operations in Asia and Australasia, the UK and Europe and in every major North American city.

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