When you see a high yield stock in today’s market, you might be wondering whether the company is going to cut its payout soon. And while double-digit yielders are not exactly known for their dividend safety, this high dividend stock’s payout is actually rock-solid. In fact, investors who put their money in this company today may see even bigger dividend checks in the near future because of the growing amount of cash the business generates.
I’m looking at Energy Transfer Partners LP (NYSE:ETP), a master limited partnership headquartered in Dallas, Texas. Energy Transfer started in 1995 as a small intrastate natural gas pipeline operator. Today, it is one of the largest midstream MLPs in the U.S. with more than 71,000 miles of natural gas, natural gas liquids (NGLs), crude oil, and refined products pipelines. Now, I know what you are thinking. In recent years, the energy sector wasn’t really known for its dividend safety. As a matter of fact, since the downturn in oil and gas prices started in the summer of 2014, quite a few energy firms have cut back their dividends.
Source: Income Investors
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- Who is Ben Grossbaum and Why Should We Listen to Him?
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