Does anybody own BP Prudhoe Bay Royalty Trust (NYQ:BPT) and if so can you please explain roughly how these trusts work (there are quite a few of them and they all have the same characteristics i.e. very high yields)?
According to Stockopedia BPT pays out a dividend yield of 66%, it has no debt and it is trading at 1.5 times earnings. Price to book is sky high however...
I hold some unfortunately.
The only way to enlighten you is with the table below and the info that the spring payout appears to have been cancelled. There's a news item. Beyond that I have lost interest.
For some years I stalked it, along with mid-streams and pipelines. Then Rick Rule started classes on streaming and royalties and my curiosity increased.
It was bought on March 31. Over the weekend the Saudis announced a production cut and gave me a two day profit. I mistook a short squeeze for a break out and held.
With the subsequent collapse I cut half the position.
Maybe it is time to do more research and back-up the truck but the professionals seem to be in charge.
