Eoin Treacy's view This story from the Wall Street Journal by Kelly Greene dated July 18th makes a number of interesting points relating to the sector and is no less relevant today, although prices for many of these trusts have advanced considerably over the intervening period.

The Alerian Energy Master Limited Partnerships Index has a dividend yield of 6.53% and P/E of 23.9. Here is the total return chart. The Index is no longer cheap but the yield nevertheless remains competitive. The price would need to break the progression of higher reaction lows and sustain a move below the 200-day moving average to question the consistency of the medium-term uptrend.

The S&P/TSX Capped Income Trust Index has constituents from all Canadian income trust sectors and yields 7.34% with a P/E of 26.9. It also continues to trend consistently higher and a sustained move below 120 would be required to question potential for continued upside.