This High-Yield Stock Dividend Stock Is on Track to Cash In During 2020
Crestwood Equity Partners (NYSE: CEQP) is nearing the end of an ambitious three-year, $1 billion expansion program. That strategy has already started paying dividends, which was evident during the third quarter. The master limited partnership (MLP) delivered smoking growth as earnings surged nearly 40% while its cash flow jumped almost 60% from the prior-year period. That enabled the company to cover its 7.6%-yielding payout by 1.9 times.
That high-octane growth rate should continue throughout most of 2020, while capital spending is on track to sharply decline. As a result, the energy company expects to generate a gusher of free cash flow in the coming year, which was a major topic of conversation on its third-quarter conference call. Here's a look at what management might do with all that money.
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Source Fool.com
