Got $1,000? Here's How to Turn It Into $97 of Annual Income (With Even More in the Future)
(NYSE: MPLX) has been an income-producing machine over the years. The energy master limited partnership (MLP) has increased its cash distribution to investors every year since its formation in 2012. The midstream company most recently boosted its payout by almost 10%, pushing its yield up to 9.7%. It could turn a $1,000 investment into $97 of annual income at that rate.
The company's big-time payout should continue rising in the future. That was one of the key takeaways from the MLP's third-quarter conference call.
"Overall, we're trying to position ourselves as a good investment for people that are interested in the type of cash flows that we're generating," stated CEO Michael Hennigan on the third-quarter call. Those cash flows are very stable and steadily rising. The company operates a diversified midstream business that produces fee-based cash flows backed by long-term contracts.
Source Fool.com
MPLX L.P. Stock
With 13 Buy predictions and not the single Sell prediction the community is currently very high on MPLX L.P..
With a target price of 42 € there is potential for a 256.84% increase which would mean more than doubling the current price of 11.77 € for MPLX L.P..
