- PER’s share price has been hammered by a drop in oil prices.
- The market correction is undervaluing PER’s near-term distribution hedges.
- Even with the drop in oil prices, PER’s near-term distribution is on target for a near 30% forward yield.
- An additional return in share price appreciation of more than 25% is possible in the next year.
- PER’s fair value today is $12.72, resulting in a significant margin of safety; however, the trust is exposed to further oil price declines.