Oil prices fell into the doldrums in the summer of 2014. While they have recovered quite a bit this year, West Texas Intermediate (WTI) crude is still trading at less than half of what it was in July 2014. During this period, many oil companies had massive layoffs, and some have slashed their dividends. This partnership, on the other hand, never cut its dividends. In fact, it has been increasing its distribution every quarter for more than 10 years.
I’m talking about Enterprise Products Partners L.P. (NYSE:EPD), a master limited partnership (MLP) based in Houston, Texas. Enterprise Products Partners is one of the largest midstream energy service providers in North America. The partnership’s asset base has grown tremendously since its initial public offering (IPO) in 1998. Its portfolio consists of 49,000 miles of pipelines transporting natural gas, natural gas liquids (NGL), crude oil, refined products, and petrochemicals. The partnership also owns a number of storage facilities, natural gas processing plants, and terminals.
Source: Income Investor
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