Recently, there’s been a flurry of positive dividend activity in the midstream energy sector with both well-known and lesser-heralded pipeline firms boosting payouts.
Energy Transfer (NYSE: ET) is one of the guests at the midstream dividend increase party
Following a July distribution increase of nearly 1%, Energy Transfer’s consecutive streak of boosted payouts now spans an impressive 19 quarters, or nearly five years for those keeping score at home. Typically, Energy Transfer delivers gentle upside nudges to its dividend, and investors love the consistency. Plus, those modest increases add up over time.
The stock yields 6.7% and, by some estimates, if its current trajectory of dividend increases continues, the dividend could nearly double over the next decade. That’d be music to the ears of long-term investors. Fortunately, this pipeline stock has the fundamentals to keep good dividend times coming.