This 7.6%-Yielding Dividend Stock Has a Huge Growth Catalyst Ahead
Enterprise Products Partners (NYSE: EPD) is nearing an inflection point. The midstream giant recently completed the expansion of its Acadian Haynesville Extension natural gas pipeline. That's the first of the $3.8 billion of organic growth capital projects it expects to finish this year.
That wave of growth projects will help move the needle for the master limited partnership (MLP) this year. It should give the company the fuel to continue increasing its already attractive 7.6%-yielding distribution.
Enterprise Products Partners recently finished expanding its Acadian Haynesville Extension natural gas pipeline. The project will increase its natural gas takeaway capacity in the Hayneville area of Louisiana by about 400 million cubic feet per day. The company secured long-term, take-or-pay contracts with credit-worthy customers for this capacity. As a result, the project will provide the MLP with a very stable stream of incremental cash flow.
Source Fool.com
