Looking for outperforming high-yield income vehicles? The energy sector continues to have a joyride in the market. After being the leading sector in 2021, it's up by 10% in this first week of 2022. This company yields 9.16%. DCF/distribution coverage soared to 2.49X in Q3 '21. Analysts have raised 2022 earnings estimates for GLP from $1.12 to $1.64 in the past 30 days, a 64% increase.
Although Global Partners LP (GLP) was founded in 2005, its roots go back much further than that. It began more than 75 years ago, delivering heating oil - door to door - in the neighborhoods around Greater Boston. It's one of the largest fuel distributors in the New England area, selling via retail C-stores and wholesale divisions. It's also involved in the transportation of petroleum products and renewable fuels through rail from the mid-continent region of the United States and Canada, and has a rail and waterborne terminal on the West Coast, in Oregon. GLP is based in Waltham, Massachusetts.
Source: Seeking Alpha
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9% Yield, Strong Q3 Earnings, Estimates Rising
Posted by D4L | Wednesday, January 26, 2022 | ArticleLinks | 0 comments »________________________________________________________________
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