This 15%-Yielding Energy Stock Still Has Full Confidence in Its Dividend

The second quarter was one of the worst periods in history for the energy market. Demand for refined petroleum products fell off a cliff as governments shut down their economies to slow the spread of COVID-19. That had a significant trickle-down effect as many energy companies had to reduce their production capacity, which meant that fewer volumes flowed through to midstream companies like MPLX (NYSE: MPLX).

However, thanks to its business model's overall resilience, the master limited partnership delivered rock steady second-quarter results. Add that to its solid financial profile and the upcoming completion of several expansion projects, and MPLX continues to believe it can maintain its 15%-yielding payout.

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Source Fool.com