This 7.2%-Yielding Dividend Stock Could Be About to Add a Lot More Fuel to Its Growth Engine

Enterprise Products Partners (NYSE: EPD) has an illustrious history of growing its cash distributions to investors. It has reached the quarter-century milestone of consecutive annual-payout increases. Several factors have helped fuel its growth, including its ability to secure and build high-return, organic-expansion projects.

The master limited partnership (MLP) has several more expansion projects currently under construction. In addition, it has been working on securing a potentially needle-moving, organic-growth project for the past several years. It appears to be getting close to approving that project, which would add even more fuel to its long-term growth engine.

Last month, Enterprise Products Partners finally received the deepwater port license for its proposed Sea Port Oil Terminal (SPOT). That license enables the company to move forward with the next step in developing an offshore terminal capable of loading 2 million barrels of oil per day.

Continue reading

Source Fool.com