12 Straight Distribution Hikes, 9% Yield, Record Earnings - Solid LP

Looking for a standout midstream pipeline company with an attractive yield? 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.

PBF Logistics (PBFX) 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.

Source: Seeking Alpha

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