A 9.6% Yield On Qualified Dividends From A Pure Play LP - No K-1

This niche LP yields 9.61%, and its coverage improved to 1.14x in its most recent quarter. It also has a new preferred series yielding over 8%. It has an average remaining contract term of 11.7 years. It's the only publicly traded pure play on a rapidly growing sub-sector of the energy shipping business. Revenue has grown 42%, and DCF is up 23% in the past four quarters - both hit records in Q3 '17. You get a 1099 at tax time - no K-1.

We've long included Hoegh LNG Partners LP (HMLP) in our articles about the LNG shipping industry. As it turns out, HMLP is the only publicly traded pure play on FSRUs. In one of our recent articles on the LNG shipping industry, we noted that "FSRU projects are projected to add ~70 metric tons/year to global regasification capacity by 2019." This seems to be where the action is - FSRUs have grown pretty quickly since 2013 - rising from annual 10% growth to 15% - 16% in the past two years, and they're projected to keep growing, eventually by 21% in 2020:

Source: Seeking Alpha

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