The company’s refined product pipelines transport conventional gasolines, reformulated gasolines and low-octane gasolines for oxygenate blending, as well as distillates, such as high- and low-sulfur diesel and jet fuels and liquefied petroleum gases. Its intermediate product pipelines transport intermediate feedstocks and crude oils; and its oil trunk, gathering and connection pipelines deliver crude oil.
Holly operates 26 main pipelines; crude gathering networks; 10 refined product terminals; a crude terminal; 31,800 track feet of rail storage; seven locations with truck or rail racks; and tankages at six refining facility locations, as well as five refinery processing units.
Holly Energy Partners stock comes with an 8.27% distribution, which appears safe for now. The Raymond James price target of $20 is higher than the $18 consensus target and Thursday’s close of $16.92.
New York Community Bancorp
This somewhat off-theadar company pays a huge dividend and is an attractive idea for investors also looking to own financials now. New York Community Bancorp Inc. (NYSE: NYCB) operates as the bank holding company for New York Community Bank, which provides banking products and services in New York, New Jersey, Ohio, Florida and Arizona.
The company accepts various deposit products, such as interest-bearing checking and money market, savings, non-interest-bearing and individual retirement accounts, as well as certificates of deposit. Its loan products include multifamily loans; commercial real estate loans; specialty finance loans and leases; and commercial and industrial loans; acquisition, development and construction loans; one-to-four family loans; and consumer loans.
The company also offers annuities, life and long-term care insurance products and mutual funds; cash management products; and online, mobile and phone banking services. It primarily serves individuals, small and midsize businesses, and professional associations through a network of 237 community bank branches and 340 ATM locations.
Shareholders receive a 6.59% dividend. The BofA Securities price target is $11, while the consensus target is $12.00. Thursday’s closing print for New York Community Bancorp stock was $10.32 per share.
While a few of these seven top companies are somewhat off the radar, their stocks all offer investors outstanding entry points and some of the biggest dividends. They are Buy rated at top Wall Street firms, and the companies have a reasonably strong moat around their businesses.
The reality is that we are in one of the worst economic periods in America in decades. With that in mind, buying stocks that will pay dependable dividends until the mess is sorted out continues to make sense now.
Originally posted at 24/7 Wall St.
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