Looking to catch a well-paying ride on the growth arc of a relatively new company? This stock yields 8.53%, with strong 1.28x coverage. Management has raised the distribution nine straight quarters - it's now 50% above the targeted minimum. Q4 '16 revenues grew 65%, net income 61%, EBITDA 39% and DCF 37% - all company records. Management guided to 30%+ revenue and net income growth in 2017, which should support more distribution hikes...
When we first covered PBF Logistics (NYSE:PBFX) in an early January 2017 article, we noted that the company had tripled its asset base in the past four quarters, which had led to 20%-plus growth in revenue and EBITDA. Better yet, its September 2016 purchase of a 50% interest in the Torrance, CA, pipeline would add 23% to revenue and 18% to EBITDA. "This bodes well for continuing distribution growth in 2017." It all started to bear fruit in Q4 2016 - revenue grew 65%, net income grew 61%, EBITDA rose 39%, and DCF rose 37%, as contributions from the new assets began to contribute to earnings:
Source: Seeking Alpha
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