Penn Virginia Resource Partners (PVR)
by Zacks Equity ResearchAugust 17, 2012 | Comments : 0 Recommended this article: (0)
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Federal and state regulators have implemented new rules to minimize emissions of greenhouse gases. The shift of electric power generators to other sources of fuel, substituting the use of coal with natural gas or renewable energy, could affect the ability of Penn Virginia Resource's lessees to sell the coal they produce, thereby reducing its coal royalty revenues.
The partnership is trading at a premium with respect to forward P/E multiple in comparison to its peer group. Our target price of $22.00 reflects a P/E multiple of 41.5 based on 2012 EPU.
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