This 6.4%-Yielding Dividend Stock Gives Investors 9.1 Billion Reasons It's an Excellent Buy
Enterprise Products Partners (NYSE: EPD) has created an amazing amount of wealth for its investors over the years. Since its IPO roughly two decades ago, the master limited partnership has generated a jaw-dropping 1,850% total return. That has obliterated the S&P 500's nearly 300% total return over that timeframe.
One of the big drivers of Enterprise's ability to create so much wealth for its investors is its steadily growing dividend. The energy company has increased it not just for 20 straight years but also in each of the past 61 consecutive quarters. That trend appears almost certain to continue. Driving that view is the company's backlog of expansion projects, which is now up to $9.1 billion. That should provide Enterprise with plenty of fuel to continue growing its 6.4%-yielding distribution to investors through at least 2023. This increasing visibility into future growth makes Enterprise an excellent stock to buy for the long haul.
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Source Fool.com
