Cool Company: Quality Fleet, 73% PNAV, And 14.7% Yield; Rating Unchanged [Seeking Alpha]
Cool Company Ltd. Common Shares (CLCO)
Company Research
Source: Seeking Alpha
CLCO delivered excellent results in 2023: 55% YoY EBITDA growth and 53% YoY operating cash flow growth. For 2023, CLCO pays $1.64/share, resulting in a 14.7% TTM yield. CLCO maintains an adequate capital structure: 132% total debt/equity and 60% total liabilities/total assets. The company holds $133 million cash and owes $1,066 million total debt. CLCO strikes the perfect balance between a quality fleet,price, and leverage. The juicy dividend yields are the cherry on top. I give CLCO a strong buy rating. Note: I previously covered Cool Company ( NYSE: CLCO ) in February 2024. I discussed the company's strengths: its fleet with TF-DE/XDF engines (plus two new builds equipped with ME-GA engines), attractive dividend yield, reasonable valuation, and robust finances. CLCO will benefit from replacing LNG carriers powered by steam turbines and rising LNG demand globally. I gave CLCO a strong buy rating, considering its merits. In today's note, I will review the last results for 2023
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CLCO
News
- 10 Dividend Stocks with Over 9% Yield According to Analysts [Yahoo! Finance]Yahoo! Finance
- Cool Company Ltd. - Announcement Of Filing Of Form 20-F Annual Report [Yahoo! Finance]Yahoo! Finance
- Cool Company Ltd. - Announcement Of Filing Of Form 20-F Annual ReportBusiness Wire
- Cool Company Ltd. - Ex DividendBusiness Wire
- Key Information Relating to the Cash Dividend to Be Paid by Cool Company Ltd. (TICKER: CLCO)Business Wire
CLCO
Sec Filings
- 3/28/24 - Form S-8
- 3/28/24 - Form 20-F
- 3/27/24 - Form 6-K
- CLCO's page on the SEC website