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12 Straight Distribution Hikes, 9% Yield, Record Earnings - Solid LP Goes Ex-Dividend This Week


  • This LP yields 9.41%, with very strong 1.38x distribution coverage.
  • Management has raised the distribution for 12 straight quarters.
  • It just reported record revenue, EBITDA, and distributable cash flow for Q3 2017.
  • It goes ex-dividend this week.

Looking for a standout midstream pipeline company with an attractive yield? Maybe you should consider PBF Logistics (PBFX), an LP we've covered in some previous articles. PBFX and its parent company, PBF Energy (NYSE:PBF), both just reported strong Q3 earnings this week.

PBFX is the yieldco arm of PBF - both companies are managed by the same executives, and PBF owns 100% of the GP of PBFX and 44% of the LP interests of PBFX.

PBF Profile:

PBF is one of the largest independent petroleum refiners and suppliers of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the US. It's the fourth largest refiner and the second most complex independent refiner in the US. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products. PBF Energy Inc. was founded in 2008 and is based in Parsippany, New Jersey.

The company sells its products in Northeast, Midwest, Gulf Coast, and West Coast of the United States, as well as in other regions of the United States and Canada. It also offers various rail, truck, and marine terminaling services, as well as pipeline transportation and storage services

(Source: PBF site)

PBFX Profile:

PBF formed PBFX in order to monetize and support its refining operations with logistics services and assets. PBFX's business model is based upon long-term, fee-based contracts with PBF and acquiring dropdown assets from its parent/sponsor, in addition to outside acquisitions. PBFX's contracts currently have a remaining term of ~7 to 10 years left.

(Source: PBFX site)


PBFX's management declared its 12th straight distribution hike this week, raising the payout to $.48/unit. PBFX goes ex-dividend on 11/9/17 and pays on 11/29/17.

PBFX has the strongest

This article was written by

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Target 5-10% yields backed by solid earnings for better portfolio income.

Robert Hauver, MBA, was VP of Finance for an industry-leading corporation for 18 years, and publishes SA articles under the name DoubleDividendStocks. TipRanks rates DoubleDividendStocks in the Top 25 of all financial bloggers, and Seeking Alpha rates us in the Top 5 of several categories, including Dividend Ideas, Basic Materials, and Utilities. 

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Analyst’s Disclosure: I am/we are long PBFX, GLOP. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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