WES - This Elite Dividend Stock Is Adding $400 Million of Fuel to Its Dividend Growth Engine
2024-02-24 06:24:00 ET
Enterprise Products Partners (NYSE: EPD) reached the milestone of 25 consecutive years of distribution increases last year. That's an elite record of growth, especially in the volatile energy sector.
The master limited partnership (MLP) has steadily grown its distribution by building and buying stable midstream assets that increase its cash flow. The company recently agreed to make $400 million in acquisitions. Those deals will give it even more fuel to grow its 7.5%-yielding distribution in the future.
Enterprise Products Partners recently signed a series of agreements with fellow MLP Western Midstream Partners (NYSE: WES) to acquire additional interests in some of its midstream assets. It's acquiring:
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This Elite Dividend Stock Is Adding $400 Million of Fuel to Its Dividend Growth Engine