Energy Transfer (NYSE: ET) is one of the more popular energy stocks. A big reason is the big-time distribution of the master limited partnership (MLP), currently yielding over 8%. Further, the midstream giant plans to increase its already massive payout by 3% to 5% per year.

As attractive as Energy Transfer's payout might be these days, it's not the most compelling one in the energy patch. Rival MLP Western Midstream (NYSE: WES) offers an even higher-yielding payout (more than 9%). Further, its distribution has grown at a much faster rate this year. Because of that, those who like Energy Transfer's income stream should take a closer look at Western Midstream's payout.

Western Midstream currently pays a quarterly distribution of $0.875 per unit ($3.50 annualized). That level is an eye-popping 52% higher than the prior quarter's payment level following a monster distribution increase by the MLP. At its recent unit price of around $38 apiece, it offers a 9.2% distribution yield, which is even more attractive than Energy Transfer's payout (recently yielding around 8.1%).

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Source Fool.com