Want to Generate Investment Income? Check Out This 8.8%-Yielding Dividend Stock
Income-seekers have many more investment options now that interest rates are higher. One they won't want to overlook is (NYSE: MPLX). The master limited partnership (MPL) currently yields 8.8%. The energy midstream company's monster payout is on an extremely firm foundation.
That was evident in its recently reported second-quarter results. Here's why MPLX is such an attractive option for income-seekers these days.
MPLX generated more than $1.3 billion in distributable cash flow during the second quarter and almost $2.6 billion through the first half of the year (6% higher than the year-ago level). That's free cash the MLP can use as it sees fit, including distributing it to investors.
Source Fool.com
MPLX L.P. Stock
MPLX L.P. is currently one of the favorites of our community with 12 Buy predictions and no Sell predictions.
Based on the current price of 11.77 € the target price of 42 € shows a potential of 256.84% for MPLX L.P. which would more than double the current price.