5. Linn Energy (LINE), an independent oil and natural gas company with properties in five regions: Mid-Continent Deep, Mid-Continent Shallow, Louisiana and Illinois, Permian Basin, and California.
In November, the company paid its cash distribution of 69 cents per unit for its third quarter, or $2.76 per unit, on an annual basis. This compares to its first quarter distribution of 66 per unit. Currently, the stock is trading with a dividend yield of 7% and one-year dividend growth of 5.9%, as per data compiled by Bloomberg.
For third quarter 2011, the company recorded net income of $837.6 million, compared to $4.14 million in the same quarter last year. Adjusted EBITDA for the quarter increased 30% year-over-year for the quarter. Net cash provided by operating activities stood at $183 million, vs. $108 million in the year-ago quarter. As of Sept. 30, the company reported strong liquidity position with $1.4 billion.The company recently announced 2012 oil and natural gas capital program of $880 million, focused on low-risk, high-rate-of-return liquids drilling. LINE is likely to drill or participate in almost 340 wells in 2012. For fiscal year 2012, the company estimates distributable cash flow per unit of $3.30 with a distribution coverage ratio of 1.20 times. Of the 14 analysts covering the stock, 86% recommend a buy and the rest rate a hold. There are no sell ratings on the stock. Analysts polled by Bloomberg foresee the stock gaining an average 15.8% to $44.22 in the upcoming 12 months.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV