MPLX - Looking to Boost Your Income? You Have to Check Out This 9.5%-Yielding Dividend Stock
2023-12-14 05:06:00 ET
MPLX (NYSE: MPLX) is an overlooked income investment. Because of that, investors are missing out on the master limited partnership's (MLP) big-time payout. It currently yields 9.5%, light-years ahead of the S&P 500 's 1.5% dividend yield.
That massive distribution is on a very sustainable foundation. Furthermore, the MLP has an excellent track record of increasing its payout. That makes it a compelling option for those seeking to boost their passive income.
MPLX owns a diversified portfolio of midstream assets. It has a gathering and processing business that supports production in two key oil and gas basins. It also has a logistics and storage segment that transports and stores oil and refined petroleum products. These assets generate relatively predictable cash flow backed by government-regulated rate structures and long-term contracts with high-quality customers, including its parent, refining giant Marathon Petroleum .
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Looking to Boost Your Income? You Have to Check Out This 9.5%-Yielding Dividend Stock