This spring, Parallel Energy Trust completed a $393-million initial public offering on the TSX. Because its producing assets are located in Texas, a Canadian-listed trust structure was possible. Parallel currently pays a 7.5 cent monthly distribution for a prospective annual yield of about 12 per cent. Insiders have been buying on unit price weakness. Over the last 30 days, four insiders have acquired $266,177 worth of units in the public market. CEO Dennis Feuchuk was one of the buyers, picking up 9,000 units at an average price of $7.74.
Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.