The article argues that Energy Transfer (ET) and Enterprise Products Partners (EPD), two midstream pipeline MLPs, offer high dividend yields of 6.69% and 5.99%, compared with an average of 1.06% for the S&P 500. EPD has raised its dividend for 28 consecutive years, while ET has delivered 19 consecutive quarterly increases. Both rely on fee-based, long-term contracts, and their distribution coverage ratios in the second quarter were 2.2x for ET and 1.9x for EPD. ET reported second-quarter net income of $2.09 billion, up 80.1%, and adjusted EBITDA of $5.07 billion, and raised its annual EBITDA guidance to $18.8–19.1 billion. EPD reported record second-quarter net income of $1.8 billion.
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