Aftershock's High Income Guide by Packer Andrew;

Author:Packer, Andrew; [Packer, Andrew]
Language: eng
Format: epub
Tags: Investing
ISBN: 4563581
Publisher: Humanix Books
Published: 2013-08-30T00:00:00+00:00

MLP Opportunity #3:

Long-Term, Value-Oriented Management: Boardwalk Pipeline Partners

Operating in a smaller geographic region and focusing on natural gas transmission, there is one key advantage that sets Boardwalk Pipeline (BWP) apart from other MLPs: its value-oriented management team.

That’s because 60 percent of this MLP is owned by Loews Corporation (L), the value-oriented conglomerate run by the Tisch family. Its track record over the long term has been stellar, and it’s applying that methodology to Boardwalk as well.

Boardwalk has recently completed several compression projects designed to increase the capacity of its network. Its quarterly cash distribution has been raised to $0.533 per unit, for an annual yield of approximately 8 percent.

With a record for increasing distributions, it’s no surprise that, since inception in 2005, this MLP has managed a 17 percent average annual return. That’s amazing performance for a period that includes the 2007-2009 bear market!

In the past three years, however, Boardwalk has managed to break through to new heights even as the market collapsed. Armed with long-term, value-oriented management, this trend will likely continue.

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