top dividend stocks to Buy - BreitBurn Energy Partners dividend yield growth outlook 2013 : BreitBurn Energy Partners LP (BBEP) is an oil and gas E&P company buying proved producing properties, which have further potential for development. The company deals in acquisition, exploitation and development of oil and gas properties in the U.S. Its reserves distribution has grown from 35% to 50% since last year with much of it coming from the acquisition of over $600 million in new, "oily" properties in 2012. It's a good strategy, as oil prices have held up much better than U.S. natural gas prices in the last few years.
From an investor's point of view, BBEP has performed fairly well considering a consistent growth in dividend. Dividend/Distribution by the company has risen for 10 consecutive quarters, with 4Q12 making it 11 straight quarters with a raise to $0.470. BBEP's coverage ratio for 2012 was healthy at 1.18x, which is in line with the industry average of 1.1x to 1.2x. For the full year, the company's production rose to 8.32 million BOE (barrel of oil equivalent), while for the fourth quarter production grew 11% compared to Q1 of 2012.
For fiscal 2013, BBEP expects growth to continue with total production between 9.5 BOE and 10.1 BOE. The company is expecting an adjusted EBITDA of $330 to $340 million for 2013, which are conservative estimates as they don't consider acquisitions. BBEP is targeting at least $500 million in acquisitions and is expected to have an active drilling program for its own fields.
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