This 7.7%-Yielding Dividend Stock is a Top Option for Safe Income
Enterprise Products Partners (NYSE: EPD) has been one of the most durable income stocks in the energy sector over the years. The master limited partnership (MLP) recently finished its 25th year as a public company operating in the sector. It has increased its distribution every single year since coming public, which is no small task in the volatile sector.
The MLP continued that trend in its 26th year, starting 2024 off with another distribution increase. It's in an excellent position to keep growing its payout, which was evident in its recently reported results for 2023 and outlook for what's ahead.
Last year was a more challenging one for the energy sector. Enterprise Products Partners' co-CEO Jim Teague pointed that out in the company's fourth-quarter and full-year earnings report. He noted that the pipeline operator faced "significantly lower commodity prices and natural gas processing margins in 2023 compared to 2022."
Source Fool.com
