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Hoegh - An 8.5% Yield Which Is Well Covered

Published Tue, 25 Sep 2018 06:29:35 -0400 on Seeking Alpha

As many readers know, I have been investing in shipping preferred stock for a while. I currently own positions in (capital structure positions listed - common, preferred or both) Costamare (CMRE) (CMRE.PC), Golar LNG (GMLPP), Seaspan Corp. (SSW.PH), Tsakos Energy (TNP.PD) and Teekay Offshore (TOO) (TOO.PE). Additionally, I own Teekay (TK) common.
Many readers (and friends/associates) ask why I am invested in the volatile (and typically out of favor) shipping industry. The answer is simple: I believe the industry will survive (obviously) and the key is to identify those companies that are best-in-class and will continue to pay their holders. When a company is truly superior, a common stock position can be taken; when they are above average, a preferred stock (or baby bond) position should be considered. Both of these require the ability to cover preferred and common dividends.
Recently, I read a fine article by SA writer Treading Softly about a LNG industry participant that made me want to dig in for myself, especially as I have a preferred position in Golar LNG Partners (issue disclosed above). My focus was on the preferred stock, as this is the level of the capital structure I have been adding lately, and is not necessarily a reflection on the company's common stock.
Hoegh LNG Partners (HMLP) is a limited partnership formed by Hoegh LNG Holdings to acquire floating storage and regasification units (FSRUs), liquified natural gas (LNG carriers) and other LNG... Read more

Stock name Last trade   P/E Earnings/Share Dividend/Share Dividend yield
GOLAR LNG PARTNERS LP 9.47   105.2 0.09 1.62 16.63
COSTAMARE 6.42   23.8 0.27 0.40 6.60
TEEKAY 4.42   0.0 -1.53 0.11 2.53
TEEKAY OFFSHORE PARTNERS LP 1.18   0.0 -0.11 0.01 0.85

GOLAR LNG PARTNERS LP - GMLP
GOLAR LNG PARTNERS LP - GMLP  


Older articles featuring Golar Lng Partners Lp (GMLP):
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