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TGE - DCP Midstream: Still An MLP But That 11.8% Yield Looks Mighty Tasty
Tallgrass Energy LP Class A Shares
DCP Midstream (DCP), is an MLP whose general partner ("GP") is owned through a 50/50 joint venture between Phillips 66 (PSX) and Enbridge (ENB) - two large, well regarded, and investment-grade companies. The DCP's LP unit currently throws off an 11.8% yield. Better yet, the unit recently formed a bottom and appeared ready to rally further. DCP's distribution is underpinned by a 1/3 interest in a couple of world-class pipelines. It also has a very large footprint in the Permian Basin, where it appears companies like Chevron (CVX