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Recent Articles
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Phillips 66 Is Committed to a Secure, Competitive and Growing Dividend
Nov 28, 2025
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Image Source: Phillips 66.
Phillips 66 generated $637 million in free cash flow during the third quarter, and the company returned $751 million to shareholders, consisting of $267 million in stock buybacks and $484 million in dividends. Phillips 66 ended the quarter with $21.76 billion in debt and $1.95 billion in cash and cash equivalents. We like its 2027 priorities that include greater than a $500 million reduction in operating, SG&A and freight costs, more than $1 billion in total mid-cycle adjusted EBITDA growth in Midstream and Chemicals, a secure, competitive and growing dividend, and target total debt of $17 billion. We like Phillips 66 as an idea in the High Yield Dividend Newsletter portfolio, with shares yielding 3.6% at the time of this writing.
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Enterprise Products Partners Raises Buyback Program
Nov 28, 2025
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Image Source: TradingView.
Enterprise Products Partners announced that it raised the partnership’s common unit buyback program to $5 billion from $2 billion previously. The remaining available capacity under its new buyback program is now $3.6 billion. Total debt principal outstanding at the end of the quarter was $33.9 billion, with the company having consolidated liquidity of approximately $3.6 billion, comprised of borrowing capacity under its revolving credit facilities and unrestricted cash on hand. Though Enterprise’s third quarter results revealed some pressure on performance, its DCF coverage of the distribution remains solid and we have no qualms with its increased buyback authorization. We continue to like Enterprise Products Partners as an idea in the High Yield Dividend Newsletter portfolio. Units yield 6.7% at the time of this writing.
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Dick’s Sporting Goods Has Lots of Work to Do Following Its Acquisition of Foot Locker
Nov 28, 2025
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Image Source: TradingView.
For the 39 weeks ended November 1, Dick’s Sporting Goods bought back $299 million of shares, while it paid $306 million in dividends. The company ended the quarter with long-term debt and financing lease obligations of $1.9 billion against a cash balance of $821 million. Net inventories were up 51% year-over-year, to $5.64 billion. For the DICK’S Business, net sales are expected to be between $13.95-$14 billion in 2025, with earnings per share in the range of $14.25-$14.55, the $14.40 midpoint slightly below consensus forecast of $14.48 per share. Comparable store sales are targeted to be between 3.5%-4% for the year, while management expects to spend approximately $1 billion in capital expenditures on a net basis. We continue to like Dick’s Sporting Goods as a strong dividend growth idea. Shares yield 2.3% at the time of this writing.
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Walmart Delivers Another Strong Quarter
Nov 20, 2025
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Image Source: Walmart.
Walmart’s operating cash flow came in at $27.5 billion in the third quarter, an increase of $4.5 billion from last year’s tally. Free cash flow was $8.8 billion in the quarter, an increase of $2.6 billion from the same period a year ago. Year-to-date, Walmart repurchased 73.5 million shares for roughly $7 billion. Cash and cash equivalents came in at $10.6 billion, with total debt of $53.1 billion. At the end of the quarter, inventory totaled $65.4 billion, an increase of $2.1 billion or 3.2%. Looking to all of fiscal year 2026, Walmart raised its outlook for growth in net sales to the range of 4.8%-5.1% and adjusted operating income to the range of 4.8%-5.5%, both in constant currency. Adjusted earnings per share is expected to be between $2.58-$2.63, which includes a currency headwind of a penny or two. Shares yield 0.9% at the time of this writing.
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