I don’t trust most high-yield stocks. In fact, I toss out most of the big payouts that cross my desk. Most companies just can’t offer both a high yield and a reasonable degree of dividend safety. But today’s stock, which sports a tidy 7.5% payout, should inspire confidence. At least, as far as we might care about the distribution.
BP Midstream Partners LP (NYSE:BPMP) is a master limited partnership (MLP) that owns a handful of energy pipelines across North America. These facilities transport crude oil and natural gas in exchange for steady income. But can this yield possibly be safe? Savvy readers will always ask that question any time they see a big payout. So let’s take a quick dive into the financials.
Source: Income Investors
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