This 6.5%-Yielding Dividend Stock Is Coming Off a Record Year and Has Plenty of Fuel to Continue Growing

Core Viewpoint - Enterprise Products Partners achieved record financial results in 2024, driven by high volumes across its midstream network, allowing for a 5% distribution increase and marking 26 consecutive years of annual hikes [1][3][10] Financial Performance - The company reported a record $7.8 billion in distributable cash flow for 2024, a$200 million increase from 2023, with adjusted cash flow from operations at $8.6 billion, reflecting a 6$3.2 billion for expansion funding [3] - Capital investments totaled $5.5 billion, including$3.9 billion for growth projects, $949 million for the acquisition of Pinon Midstream, and$667 million for sustaining capital projects [4] Growth Prospects - The company has approximately $7.6 billion in major growth capital projects under construction, expected to service natural gas and NGL businesses in the Permian Basin and related downstream infrastructure [6][7] - Key projects include two natural gas processing plants, the Bahia NGL pipeline, and expansions of marine terminals, with$6 billion of these projects entering commercial service in 2025 [7] - Anticipated capital investment for 2025 is between $4 billion and$4.5 billion, moderating to $2 billion to$2.5 billion in 2026 based on current projects [8] Volume Growth - Natural gas processing inlet volumes reached 7.4 billion cubic feet per day, a 10% increase from 2023, while total equivalent pipeline volumes were 12.9 million barrels per day, a 6% increase [8] - NGL fractionation volumes increased by 3% to 1.6 million barrels per day, and marine terminal volumes rose by 6% to 2.2 million barrels per day [8] Investment Appeal - The company is positioned for continued growth, with expansion projects expected to enhance cash flow and support future distribution increases, making it an attractive option for investors seeking high-yield income streams [10]