After a few years of being so-called ‘dead money,’ the energy sector is red hot. The continuation of the Russian Energy Crisis has continued to cripple supplies and place constraints on the market. However, for those firms trying to alleviate those supply issues, the crisis has been a godsend. Our latest pick in our Best High Dividend Stocks Model Portfolio is making the best of the bad situation.
Our pick is one of the largest midstream firms in the country with a long history. More importantly, our pick has focused solely on crude oil and refined products. With critical infrastructure in key parts of the country, our pick is directly tuned into the current demand needs in the face of the crisis.
Better still has been our pick’s long conservative management. Eschewing growth for the sake of growth, our pick has continued to stick to its guns and offer volume-based pricing through its system. This has helped it support its rich 8.6% dividend with plenty of cash flows. With strong growth prospects and a current high yield, investors should watch for the stock ex-dividend on Wednesday, June 29 (estimated date).
To make room for this midstream stock, we had to remove a business development firm from our list this week.
You can check out the Best High Dividend Stocks Model Portfolio to explore all the stocks.
