Looking for a solid citizen to add to your income portfolio? This stock yields 8.21% with 1.22x distribution coverage. GLOP just reported record revenues and EBITDA, and raised its distribution. The company acquired a new asset in Q1 '17 that'll be immediately accretive to earnings.
GLOP just reported record earnings for Q1 '17. What put it over the top? A new vessel acquisition in 2016 - that's the way its business model works. As GLOP acquires new dropdown LNG vessels from its parent/sponsor, GasLog (NYSE:GLOG), the new vessels' earnings increase the company's earnings and distributable cash flow. The company had record revenue, EBITDA, and its second-best distributable cash flow in its history. EBITDA grew 22%, and DCF was up 24.53% vs. Q1 '16. Its distribution/unit growth was conservative over the past four quarters, growing only 2.22%, while coverage has stayed above 1.20x.
Source: Seeking Alpha
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