Dividends4Life: 11% Yield, 1.2X Coverage, No K-1

11% Yield, 1.2X Coverage, No K-1

Posted by D4L | Monday, May 03, 2021 | | 0 comments »

This company operates on long-term contracts with a current average remaining length of more than eight years, and full contract coverage through the first half of 2025. Its common stock yields 11.5% - 2020 distribution coverage was 1.22X. There's also an 8% yielding preferred unit. HMLP issues a 1099 at tax time - no K-1.

Hoegh LNG Partners (HMLP) offers investors high-yield exposure to the LNG shipping industry. HMLP's profile is a bit different than its competitors, though, as it's a pure play on FSRUs. FSRU stands for "Floating Storage & Regasification Unit." FSRUs have been a rapidly growing presence in the LNG shipping industry in the last few years. HMLP's parent/sponsor, Höegh LNG Holdings Ltd., is the largest provider of FSRUs in the market.

Source: Seeking Alpha

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