This Top-Notch 4%-Yielding Dividend Stock Just Gave Its Investors Another Raise

Dividend Growth and Stability - The company has increased its dividend by almost 1,230% since 2000, demonstrating long-term dividend growth [1] - Recently raised its dividend by 4% compared to last year's annualized rate, pushing its dividend yield to nearly 4% [2] - Targets 3% to 4% annual dividend growth over the next few years [11] Energy Infrastructure and Asset Base - Owns over 50,000 miles of strategically located pipelines transporting natural gas liquids, refined products, crude oil, and natural gas [3] - Operates complementary midstream assets including natural gas processing plants, NGL fractionators, and storage terminals [3] - Has built an integrated network through organic expansions and acquisitions, spending billions of dollars [4] Recent Acquisitions and Investments - Acquired Magellan Midstream Partners in a transformative $18.8 billion deal in 2023 [4] - Purchased Medallion Midstream and a 43$5.9 billion [4] - Agreed to buy the remaining publicly held shares of EnLink [5] - Invested in high-return organic expansion projects like the MB-6 fractionator and West Texas NGL Pipeline System [5] Financial Performance and Growth - Delivered 10 consecutive years of adjusted EBITDA growth (2013-2023) at an impressive 15% rate [6] - Adjusted EBITDA growth accelerated to 27% last year due to recent acquisitions [6] - Projects over $8 billion of adjusted EBITDA for the current year, a more than 20$250 million of synergies from EnLink and Medallion deals, with potential for more [8] - Working to capture over $415 million of synergies related to the Magellan acquisition [9] - Accelerated commercial synergies by purchasing 450 miles of NGL pipelines in the Gulf Coast for$280 million [9] Organic Expansion Projects - Expanding Elk Creek NGL pipeline, increasing refined products capacity to Denver area, and building Medford Fractionator [10] - Projects expected to enter commercial service through Q1 2027, providing incremental earnings [10] - EnLink offers embedded growth potential, including carbon capture and storage transportation opportunities along the Gulf Coast [10] Investment Appeal - The company's 4% dividend yield and attractive growth profile make it a compelling option for investors seeking income and growth [12]