Looking for new ideas in the Basic Materials sector? Join the club - this sector has been on fire, having risen from the ashes of the crude crash and rising US dollar. It's up over 43% over the past year. This stock yields 8.8%, with strong distribution coverage of 1.27x. Management has raised the distribution nine straight quarters, and has grown it 20% since the IPO. It has tripled its assets in the past four quarters, and also closed a new deal in September that will grow EBITDA by 18% annually. Revenues are up 21%, and EBITDA is up 20% over the past year. Even with its recent rise, it's still over 13% below analysts' lowest price target.
We just discovered a relatively new midstream company, PBF Logistics LP (NYSE:PBFX), which IPO'd in May 2014. Curiously, PBFX hasn't risen along with the rest of the sector, until recently - it has beaten the market over the past quarter and is up nearly 10% in this first week of 2017. PBFX is a fee-based, growth-oriented, Delaware master limited partnership formed in February 2013 by subsidiaries of PBF Energy (NYSE:PBF) to own or lease, operate, develop and acquire crude oil and refined petroleum products terminals, pipelines, storage facilities and similar logistics assets. PBFX has a targeted minimum quarterly distribution of $.30, which it has blown away, with its most recent payout of $.44 being over 46% above this MQD.
Source: Seeking Alpha
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