Nearing Retirement? The 3 Best Oil Dividend Stocks to Buy Now
In your working years, you're focused on saving as much as you can to create a sizable nest egg. When you reach retirement, the focus shifts to living off of what you have saved. One way to make that easier is by investing in dividend stocks.
With oil prices rocketing higher lately, here are three energy names that offer dividends that are worth a close inspection: Enbridge (NYSE: ENB), Magellan Midstream Partners (NYSE: MMP), and ConocoPhillips (NYSE: COP).
With a market cap of about $90 billion, Enbridge is one of the largest midstream companies in North America. Basically, it helps move oil and natural gas around the continent and world. However, oil pipelines make up the vast majority of its business, accounting for 58% of earnings before interest, taxes, depreciation, and amortization (EBITDA). Most of the rest, meanwhile, is tied to natural gas pipelines (26% of EBITDA) and a gas utility business (12%). Natural gas is considered a transition fuel in the world's shift toward clean energy. The remaining 4% of EBITDA is, in fact, in clean energy investments like offshore wind farms.
Source Fool.com
