ET - This Billionaire Is Selling This Magnificent Dividend Stock: Here Are 3 Other Higher-Yielding Dividend Stocks He Likes Instead
2024-05-05 05:30:00 ET
Bill Gross has made a lot of money in his career. Dubbed the "bond king," Gross helped build Pimco into a leading investment management firm focused on fixed income. He's amassed an estimated $1.7 billion fortune, according to Forbes.
These days, Gross has been putting a portion of his net worth into master limited partnerships (MLPs) . However, in a recent post on X, Gross wrote, "Pipeline MLPs have peaked for now." That drove him to sell some of his MLP holdings, including Enterprise Products Partners (NYSE: EPD) . However, while he exited that position, he's still holding Western Midstream (NYSE: WES) , Energy Transfer (NYSE: ET) , and MPLX (NYSE: MPLX) . Here's a look at why he thinks those MLPs are more attractive for income-seekers right now.
Bill Gross has been pounding the table for MLPs . However, he has noted that some MLPs are more attractive than others because of their higher relative dividend yields. Now he's selling two of his MLP holdings: Enterprise Products Partners and NuStar .
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This Billionaire Is Selling This Magnificent Dividend Stock: Here Are 3 Other Higher-Yielding Dividend Stocks He Likes Instead