Enterprise Products Partners’ (EPD) Dividend Track Record Makes it a Strong Affordable Dividend Stock Choice

Core Insights - Enterprise Products Partners L.P. (NYSE:EPD) is recognized as one of the best affordable dividend stocks to buy now, highlighting its strong position in the market [1][2] - The company operates as a midstream oil and gas operator, providing essential connections between upstream production and downstream refining and chemical processing [2][3] Company Overview - Enterprise Products Partners L.P. is one of the largest midstream operators in North America, functioning as a toll road for the energy industry [2] - The midstream sector is less reactive to commodity price fluctuations, ensuring consistent demand for the services provided by the company [3] Financial Performance - The company has a strong dividend track record, having raised its distributions annually for the past 27 years, supported by reliable cash flows [3] - With an investment-grade balance sheet and a distributable cash flow coverage ratio of 1.7 times the payout, there is potential for further dividend growth [4] - The current quarterly dividend is $0.545 per share, resulting in a dividend yield of 7.01% as of October 2 [4]