SRV: Little Room For Disappointment

Impact · against what's priced in

SRV is a Sell due to a massive coverage gap where recurring cash covers only 31% of its 15.1% yield, making distributions unsustainable. With projected returns of 7.2% falling short of the 11% hurdle, the fund faces significant downside risk.

SRV−0.80

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In context

Recurring cash covers only ~31% of the 15.1% cash yield, creating a coverage gap that suggests a high probability of distribution cuts.

Read from the article alone

• cash flow▲<1%
• energy
• SRV
• asset allocation
• dividend yield
• leverage
• midstream

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