North American midstream giant Enterprise Products Partners (NYSE: EPD) is a bellwether in its industry. Add in 22 years of annual distribution increases, a fat 6.1% yield, and 1.7 times distribution coverage through the first six months of 2019, and there's a lot for dividend-focused investors to like here. But don't take the plunge just yet -- there's one more factor that you need to know before you buy this admittedly easy-to-love midstream goliath.
Enterprise has one of the largest midstream footprints in North America, owning a massive collection of pipelines, processing facilities, storage, export terminals, and shipping assets. Very few peers can compete with the limited partnership's scale and reach -- think Kinder Morgan (NYSE: KMI), Enbridge (NYSE: ENB), and TC Energy (NYSE: TRP), all giants in the midstream space. However, there's a notable difference between Enterprise and these three other companies. And that difference is found on the balance sheet.
Image source: Getty Images.