Teekay LNG Partners (TGP) is the world's largest publicly-traded LNG shipping company.
TGP has a superior $10B contract backlog with very little near-term market risk with 96% of their days fixed through 2021.
Less than 3 months left to complete their 4-year growth initiative. Improving leverage and active $100M repurchase program.
The stock is cheap because investors aren't yet rewarding their huge coverage (more than 4x fwd coverage).
Savvy investors can acquire this high-quality name at a deep discount. Fair value estimate: $25/unit, 66% upside. 5.1% yield bonus.