These High-Yield Dividend Stocks Are Making a Needle-Moving Swap
Kinder Morgan (NYSE: KMI) has agreed to acquire Stagecoach Gas Services, a natural gas pipeline and storage joint venture currently owned by Consolidated Edison (NYSE: ED) and Crestwood Equity Partners (NYSE: CEQP). It's paying $1.225 billion in cash for Stagecoach, which comprises four natural gas storage facilities and three pipelines in the Northeast.
It's a notable deal for all parties. The transaction will provide an immediate boost to Kinder Morgan's cash flow. Meanwhile, it will significantly bolster the financial profile of both sellers. Those benefits will enhance all three companies' ability to pay their high-yielding dividends.
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Source Fool.com
