I just posted our updated profile and forecast/valuation model for BSM to the EPG website.
BSM closed at $7.10 today.
My valuation is $10.50 and Stifel's 11/13/20 update is a price target of $14.00.
It is an MLP that recently paid a quarterly cash distribution of $0.15 for annual yield of 8.45%. MLPs are best suited for taxable accounts because their distributions are partially tax deferred.
BSM has a very strong balance sheet and more than enough DCF coverage to double quarterly distributions in 2021.
It is more heavily weighted to natural gas and NGLs than the other two minerals companies in our High Yield income portfolio.
Black Stone Minerals (BSM) Update - Dec 14
Black Stone Minerals (BSM) Update - Dec 14
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group