10 Straight Dividend Hikes And A 9% Yield, More Positives To Come?

Looking for dividend growth, or upside potential, or maybe both? Management has raised this stock's payout for 10 straight quarters. It yields 9%, with strong 1.32x coverage. Revenue grew 65%, net income rose 29%, EBITDA rose 30%, and DCF grew 33% in Q1 '17. It's now 12% below analysts' lowest price target, and has multiple upward earnings estimates over the past month.

We've been riding the growth arc of midstream energy firm PBF Logistics LP (NYSE:PBFX), enjoying its steadily rising payouts and major growth, as management ramped up the company's assets. We've also enjoyed an 11% price gain so far in 2017. Recently, however, Mr. Market hasn't come along for the ride - PBFX is down -7.84% over the past quarter. We certainly can't blame analysts - they've given PBFX multiple upward earnings estimate revisions over the past month, based upon the company's rapid asset growth and earnings power.

Source: Seeking Alpha

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