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Recent Articles
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Enterprise Products Offers Investors Key Midstream Exposure
Apr 30, 2024
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Image: Enterprise Products Partners has come back nicely since the doldrums of the COVID-19 meltdown.
We’ve never been huge fans of pipeline master limited partnerships [MLPs], but Enterprise Products Partners has been executing well. We also like the transparency it provides with respect to adjusted cash flow from operations and adjusted free cash flow, the latter coming in at $1.08 billion for the three months ended March 31. Units yield ~7.2% at the time of this writing and remain key exposure to the midstream space within the High Yield Dividend Newsletter portfolio.
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Domino’s Long-Term Growth Outlook Looks Achievable
Apr 29, 2024
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Image Source: Domino's.
Domino’s continues to be shareholder-friendly, paying a nice quarterly dividend and buying back stock. As of March 24, it still had total remaining authorization on its buyback program of $1.12 billion. Looking to the firm’s long-term guidance, the firm is targeting 7%+ annual global retail sales growth, 1,100 annual global net store growth, and 8%+ annual income from operations growth. We think its targets are achievable.
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Alphabet Posts Strong First Quarter, Initiates Dividend, Launches Huge Buyback
Apr 28, 2024
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Image: Alphabet’s valuable properties continue to put up nice revenue growth.
Alphabet ended the quarter with $108.1 billion in total cash and marketable securities against a long-term debt load of $13.2 billion, so Alphabet has an ample net cash position to support cash returns to shareholders. For the quarter ended March 31, 2024, Alphabet’s free cash flow totaled $16.8 billion, slightly lower than the same period last year due to a near doubling in capital spending, but nonetheless, the measure was healthy. We continue to like Alphabet as a top weighting in the Best Ideas Newsletter portfolio.
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Microsoft's Balance Sheet and Cash Flow Generation Make It a Strong Consideration
Apr 28, 2024
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Image: Microsoft’s cloud business continues to showcase strong growth momentum.
We like Microsoft’s financials and fundamental momentum. The company continues to benefit from AI adoption across its product suite and guidance for the fourth quarter of its fiscal year was solid. We’re huge fans of Microsoft’s net cash position on its balance sheet, and very few other firms are showing the magnitude of operating cash flow increases we’re witnessing at Microsoft. The firm remains one of our favorite ideas in both the Best Ideas Newsletter portfolio and Dividend Growth Newsletter portfolio.
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