Topic: How To Invest

PENGROWTH ENERGY $6.57 – Toronto symbol PGF

PENGROWTH ENERGY $6.57 (Toronto symbol PGF; Shares outstanding: 517.7 million; Market cap: $3.4 billion; TSINetwork Rating: Average; Dividend yield: 7.3%; www.pengrowth.com) has gained over 31% since early July 2013. That’s mainly because the company has successfully completed its plan to sell some of its less important oil and gas properties in Western Canada.

The cash from these sales will help Pengrowth speed up the development of its Lindbergh oil sands project in Alberta. As well, the company’s monthly dividend of $0.04 a share still seems safe and has a 7.3% annualized yield.

Pengrowth is a buy.

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