Looking for Passive Income? Check Out This Under-the-Radar Dividend Stock.
DCP Midstream (NYSE: DCP) lives in the shadows of two industry giants. Canadian pipeline behemoth Enbridge and refining giant Phillips 66 each own half of the energy midstream company's general partner. Because of that and its smaller size compared to other master limited partnerships (MLPs), most investors haven't come across the company.
That's causing them to overlook its increasingly attractive 4.4%-yielding dividend. Here's why those seeking to collect passive income might want to consider taking a closer look at DCP Midstream.
DCP Midstream hasn't always been an attractive option for income-focused investors. The MLP slashed its payout by 50% in early 2020 because of the initial impact of the pandemic on the energy sector.
Source Fool.com
