Three energy master limited partnerships (MLPs) are currently offering significant cash distributions amidst rising energy prices. CrossAmerica Partners (CAPL), Delek Logistics Partners (DKL), and Global Partners (GLP) provide annual yields ranging from 6% to 9%.
CrossAmerica Partners, with a stock price of $22, pays a quarterly distribution of $0.53 per unit, translating to an annual yield of 9%. In Q2, its adjusted EBITDA rose 40% year-over-year to $51.8 million, while its distributable cash flow surged 50% to $33.6 million. The distribution coverage ratio improved to 1.68X.
Delek Logistics, priced at $55, recently raised its quarterly distribution to $1.14 per unit, yielding over 8%. Q2 adjusted EBITDA grew to $143.5 million, and adjusted DCF increased to $80.5 million, with a coverage ratio of 1.33X. Global Partners’ stock, at $52, reported Q2 net income of $71 million and a raised quarterly distribution to $0.78 per unit for a 6% yield.
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