15%

Teekay LNG Partners is an intl marine transportation provider of liquified natural gas and oil. TGP has profit locked in through 2010, which averages out to 10% earnings growth YOY. This is on top of the 6.8% dividend yield (@$30/share) and the tax advantages offered by an MLP. Downside risk if large multi nationals were to cancel any long term shipping contracts as the cost of huge premiumes (....and would only happen if demand dropped off a cliff).

Teekay LNG was created fromm the spinoff of Teekay Shipping, one of the largest crude oil tankers in the world. The partnership owns and operates a high quality, modern fleet of vessels with an average age of approximately three years compared to world average of fifteen years.Expect Teekay to generate very stable cash flow as predominately all of its vessels are under long-term fixed-rate time charters with major energy and utility companies with terms that extend beyond 10-years. Citiggroup is projecting distributions to increase from a current run-rate of $1.85/unit to $2.45 per
unit by 2011.

Teekay LNG Partners
EV/EBITDA: 9.5x
Yield: 5.0%
Distribution Growth (5-Yr CAGR):8%

Div Yld 5.05

Downgraded by AG Edwards from Buy to Hold

Downgraded by Citigroup from Buy to Hold

Protectionism is back. China will still sale but not like before under Obama, America will again make it's own widgets and need less water transports. This one I think is weakest in the industry. I would sale it short and go long on DRYS.