This 6.5%-Yielding Dividend Stock Is Coming Off a Record Year and Has Plenty of Fuel to Continue Growing
Enterprise Products Partners (NYSE: EPD) recently reported its fourth-quarter and full-year results for 2024. The master limited partnership (MLP) posted record financial results fueled by record volumes across its midstream network. That gave it the wherewithal to increase its distribution by another 5%, pushing its payout to its current yield of around 6.5%. That also brought its streak of annual distribution hikes to 26 straight years.The high-yielding MLP expects to build on that record year in 2025. Here's a look at what powered its strong showing in 2024 and what's ahead for the midstream giant.Enterprise Products Partners produced a record $7.8 billion of distributable cash flow last year, a $200 million increase from 2023's level. Its adjusted cash flow from operations was even higher at $8.6 billion, a 6% increase from the prior year. The company used a portion of its cash flow to pay its lucrative distribution. Its distributable cash flow covered its payout by a comfortable 1.7 times. That enabled it to retain $3.2 billion of cash to help fund its expansion program. Continue reading
Enterprise Products Partners (NYSE: EPD) recently reported its fourth-quarter and full-year results for 2024. The master limited partnership (MLP) posted record financial results fueled by record volumes across its midstream network. That gave it the wherewithal to increase its distribution by another 5%, pushing its payout to its current yield of around 6.5%. That also brought its streak of annual distribution hikes to 26 straight years.
The high-yielding MLP expects to build on that record year in 2025. Here's a look at what powered its strong showing in 2024 and what's ahead for the midstream giant.
Enterprise Products Partners produced a record $7.8 billion of distributable cash flow last year, a $200 million increase from 2023's level. Its adjusted cash flow from operations was even higher at $8.6 billion, a 6% increase from the prior year. The company used a portion of its cash flow to pay its lucrative distribution. Its distributable cash flow covered its payout by a comfortable 1.7 times. That enabled it to retain $3.2 billion of cash to help fund its expansion program.
