Many companies pay dividends. However, few offer the size and consistent track record of Enterprise Products Partners (NYSE: EPD). The midstream master limited partnership (MLP) provides a 7.6%-yielding payout that has steadily risen for almost a quarter century.

Because of that, it's a great option for investors seeking to generate passive income. Given its current yield, it can turn a $1,000 investment into $76 of annual passive income. That's about $60 more than an investor could generate from an S&P 500 index fund, given its 1.7% dividend yield. Here's a look at what makes it an excellent option for passive income-seeking investors.

Enterprise Products Partners is a premier energy midstream company. It has a diversified portfolio of midstream assets, including pipelines, storage capacity, processing plants, export facilities, and petrochemical complexes. The MLP's fully integrated platform handles crude oil, natural gas, petrochemicals, natural gas liquids (NGLs), and refined products. It primarily generates fee-based income as those energy products flow through its system, enabling it to generate steady cash flow in almost any market environment.

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Source Fool.com