Barclays Starts Enduro Royalty Trust (NDRO) at Overweight; Perpetual Structure is a Key Advantage

Barclays initiates coverage on Enduro Royalty Trust (NYSE: NDRO) with an Overweight. PT $23.00.

Barclays analyst says, "NDRO is perpetual and will pay distributions as long as the underlying properties produce oil and gas in economic quantities. The trust does not terminate at any pre-set date or upon reaching a pre-set volume threshold. Unitholders are exposed to any future incremental reserves that may be recovered through improved technology and commodity prices. Management estimates the trust's underlying assets could hold 76 MMBOE of unproved reserve potential, nearly 3.0x the current proved reserve base."

For an analyst ratings summary and ratings history on Enduro Royalty Trust click here. For more ratings news on Enduro Royalty Trust click here.

Shares of Enduro Royalty Trust closed at $18.95 yesterday.

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