Core Insights - Enbridge Inc. (ENB) is a leading midstream energy company that generates stable fee-based revenues, making it less vulnerable to oil and natural gas price volatility [1] - The company is positioned to generate incremental cash flows for shareholders through over C$30 billion in secured capital projects, which include liquid pipelines, gas transmissions, renewables, and gas distribution & storage [2] Company Overview - ENB has been rewarding shareholders with dividend hikes for 31 consecutive years, indicating a strong commitment to returning value to investors [2] - The company's shares have increased by 9.1% over the past year, slightly below the industry average improvement of 9.4% [5] Valuation Metrics - ENB trades at a trailing 12-month enterprise value to EBITDA (EV/EBITDA) of 15.24X, which is above the broader industry average of 14.26X [6][8] - The Zacks Consensus Estimate for ENB's 2026 earnings has not seen any revisions over the past 30 days, suggesting stability in earnings expectations [10] Industry Comparison - Other midstream energy companies like Enterprise Products Partners LP (EPD) and Williams (WMB) also generate resilient, fee-based cash flows, with EPD operating over 50,000 miles of pipeline and WMB managing a 33,000-mile pipeline network [3][4]

Leadership Changes - David Slater has been elected as Executive Chairman of the Board of Directors, effective January 28, 2026, succeeding Robert Skaggs, Jr. who will remain on the Board [1] - Christopher Zona has been appointed as President, effective January 28, 2026, while continuing his role as Chief Operating Officer [3] Executive Background - David Slater has over 30 years of experience in the energy industry and has served as President and CEO of DT Midstream since May 6, 2021 [2] - Christopher Zona has also over 30 years of experience in the energy sector and has been the Executive Vice President and Chief Operating Officer since the company's Spin-Off [4] Company Overview - DT Midstream is involved in the ownership, operation, and development of natural gas pipelines, storage, and gathering systems, serving utilities, power plants, and large industrial customers across the U.S. and Canada [5]

Core Insights - The S&P 500's dividend yield is currently at 1.1%, nearing an all-time low, leading to fewer stocks offering attractive income streams. However, companies like Delek Logistics Partners, Hess Midstream, and Plains All American Pipeline provide yields up to 9% and have recently increased their payouts [1]. Delek Logistics Partners - Delek Logistics Partners declared a quarterly distribution payment of $1.125 per unit, reflecting a 0.4% increase from the previous quarter, extending its distribution growth streak to 52 consecutive quarters and raising its yield to 9% [2]. - The company generated enough cash to cover its distribution payment by over 1.3 times last year, allowing for reinvestment in expansion projects and maintaining financial flexibility [3]. - Delek's market cap is $2.7 billion, with a gross margin of 22.31% and a dividend yield of 8.86%. Recent investments include the completion of the Libby 2 gas processing plant and the acquisition of Gravity Water [5]. Hess Midstream - Hess Midstream announced a quarterly cash distribution payment of $0.7641 per share, a 1.2% increase from the prior quarter, resulting in a yield of 8.2%. The company has increased its dividend by 65% since 2021 [6]. - The company has 100% fee-based minimum-volume contracts, providing stability in cash flow through 2028, and expects to increase its dividend by at least 5% annually during this period while generating about $1 billion in excess free cash flow [9]. - Hess Midstream's market cap is $4.7 billion, with a gross margin of 63.94% and a dividend yield of 8.07% [7]. Plains All American Pipeline - Plains All American Pipeline announced a quarterly distribution payment of $0.4175 per unit, a 10% increase from the previous level, resulting in a yield of 8.5%. The company has grown its payout at a 21% compound annual rate over the last four years [10]. - The company is selling its Canadian natural gas liquids business for $3.8 billion, which will enhance its financial position and allow for reinvestment into its oil pipeline operations [12]. - Plains has the financial flexibility to invest in organic expansion projects and acquisitions, which will help grow its cash flow and continue increasing its high-yielding distribution [13]. Investment Opportunities - The energy midstream sector, represented by Delek Logistics Partners, Hess Midstream, and Plains All American Pipeline, offers attractive passive income investment opportunities with yields between 8% and 9%, and all three companies have a history of regularly raising their payments [14].

Company Overview - ONEOK, Inc. is a significant player in the energy sector, focusing on midstream services with a 60,000-mile pipeline network essential for energy resource management [1] Stock Performance - As of the latest data, the stock price of OKE is $78.96, showing a slight increase of 1.57% or $1.22 from previous trading [2] - The stock has fluctuated between $77.50 and $79.90 during the trading day, indicating active trading [2] - The stock has a 52-week high of $103.64 and a low of $64.02, reflecting notable volatility [4] Market Analysis - Robert Kad from Morgan Stanley has set a price target of $104 for OKE, suggesting a potential increase of about 30.87% from the current price [2][5] - The market capitalization of OKE is approximately $49.68 billion, positioning it as a substantial entity in the energy sector [4] Dividend Information - OKE has announced a 4% increase in its quarterly dividend, raising it to $1.07 per share, which results in an annualized dividend of $4.28 per share [3][5] - The dividend payment is scheduled for February 13, 2026, to shareholders recorded by February 2, 2026, demonstrating the company's commitment to shareholder value [3]

Core Viewpoint - Enterprise Products Partners LP (EPD) is expected to report a decline in fourth-quarter earnings and revenues for 2025, with earnings estimated at 70 cents per share, reflecting a 5.4% decrease year-over-year, and revenues projected at $13.14 billion, indicating a 7.5% drop from the previous year [1][6]. Earnings Estimates - The Zacks Consensus Estimate for fourth-quarter earnings is 70 cents per share, with a downward revision noted in the past week [1][2]. - The estimates for the current year and next year are $2.62 and $2.86 per share, respectively, with a year-over-year growth estimate of -2.60% for the current year and 8.98% for the next year [2]. Earnings Surprise History - EPD has a mixed earnings surprise history, beating estimates in two of the last four quarters and missing in two, with an average negative surprise of 1.86% [3]. Revenue and Margin Projections - The Zacks Consensus Estimate for crude oil Pipelines & Services revenues is $4.96 billion, down from $5.03 billion a year ago, with gross operating margins expected to decline from $417 million to $384 million [7]. - For NGL Pipelines & Services, revenues are estimated at $1.43 billion, down from $1.55 billion, which is likely to impact overall performance [8]. Stock Performance and Valuation - EPD's stock has decreased by 1.6% over the past year, contrasting with a 10.2% decline in the industry composite, while competitors Kinder Morgan, Inc. and Enbridge Inc. have seen gains of 7.8% and 8%, respectively [9]. - EPD appears undervalued with a trailing enterprise value/EBITDA ratio of 10.73 compared to the industry average of 10.91, indicating potential for price increases [11]. Investment Thesis - EPD has low exposure to volume and commodity price risks due to long-term contracts for its midstream assets, ensuring stable fee-based revenues [13]. - The partnership has $5.1 billion in approved projects under construction, which will contribute to additional cash flows [13]. - EPD has a strong credit rating and has been actively returning capital to unitholders through a buyback program, having utilized nearly 60% of its $2 billion repurchase plan [14].

Core Viewpoint - Cushing Asset Management significantly increased its stake in Kinetik Holdings by purchasing 855,000 shares, reflecting confidence in the company's future performance despite recent stock declines [2][4][8]. Group 1: Transaction Details - Cushing Asset Management's recent SEC filing revealed an increase in its Kinetik Holdings stake to 1.8 million shares, valued at $66.5 million as of quarter-end [4][8]. - The total position now represents 3.8% of the fund's assets under management (AUM), which amounts to $1.7 billion [4][8]. - The purchase raised the quarter-end position value by $24.2 million, influenced by both share purchases and price movements [4]. Group 2: Company Overview - Kinetik Holdings operates as a midstream company in the Texas Delaware Basin, providing gathering, transportation, compression, processing, and treating services for oil and gas producers [7][11]. - The company has a fee-based midstream business model, focusing on generating revenue primarily from long-term contracts with producers [7][11]. - As of January 26, 2026, Kinetik Holdings had a market capitalization of $6.4 billion, with a revenue of $1.72 billion and a dividend yield of 7.9% [6]. Group 3: Market Performance - Kinetik's stock has experienced a decline of 35.5% over the past year, while the S&P 500 has returned 15.4% during the same period [9]. - Despite the stock's disappointing performance, Kinetik recently raised its quarterly dividend by 4% to $0.81, resulting in an 8.1% dividend yield, significantly higher than the S&P 500's yield of 1.1% [9].

Some income investors might overlook this midstream energy stock. But they shouldn't.High dividend yields don't necessarily imply high risk. I think Energy Transfer LP (ET 0.17%) is an excellent case in point. This master limited partnership (MLP) offers a distribution yield of 7.4%. And that distribution appears to be relatively safe, making Energy Transfer an ultra-high-yield dividend stock that income investors can't – or at least shouldn't – ignore. A solid businessEnergy Transfer's solid business makes ...

Core Viewpoint - Energy Transfer offers a 7.3% yield and aims to grow its distribution steadily, despite past concerns regarding trust due to a canceled merger and a dividend cut [1][7]. Company Overview - Energy Transfer operates in the midstream segment of the energy sector, managing infrastructure for oil and natural gas transportation and charging fees for asset usage [2]. - The company’s performance is less affected by volatile energy prices and more reliant on the volume of fuels transported [2]. Financial Performance - Energy Transfer's distributable cash flow supports its distribution at a ratio of 1.8x through the first nine months of 2025, indicating a secure distribution [3]. - The company targets an annual distribution growth rate of 3% to 5% for the foreseeable future [3]. Capital Investment Plans - In 2026, Energy Transfer plans to invest up to $5.5 billion to support distribution growth, focusing on enhancing its natural gas operations as a transition fuel [4]. - Additional projects are in the pipeline, providing growth opportunities extending to 2029 [4]. Market Position - Current market data shows Energy Transfer's stock price at $17.96, with a market cap of $62 billion and a dividend yield of 7.32% [6]. - The combination of the 7% yield and a 3% distribution growth rate suggests a potential total return of 10%, aligning with broader market expectations [6]. Management Changes - The previous dividend cut was a strategic move to reduce leverage, positioning Energy Transfer for more consistent performance under new leadership [7]. - The company is perceived to be entering a new phase, potentially transforming into a reliable income stock for investors [7].

Core Viewpoint - ONEOK, Inc. has elected Mark A. McCollum and Precious Williams Owodunni as independent directors to its board, effective January 23, 2026, enhancing the board's expertise and governance capabilities [1][8]. Group 1: Board Appointments - Mark A. McCollum, 66, is the retired president and CEO of Weatherford International plc and has extensive experience in the energy sector, having previously served as CFO of Halliburton Company and held senior roles at Tenneco Inc. [2][3][4] - Precious Williams Owodunni, 50, is the CEO of Mountaintop Consulting and has a strong background in strategy and organizational development, previously serving as a vice president at Goldman Sachs & Co. [5][6][7] Group 2: Board Committees - McCollum has been appointed to ONEOK's Audit Committee and Corporate Governance Committee, while Owodunni will serve on the Executive Compensation Committee and Corporate Governance Committee [7]. Group 3: Company Overview - ONEOK is a leading midstream operator in North America, providing essential energy products and services through a pipeline network of approximately 60,000 miles, contributing to energy security and meeting domestic and international energy demand [13][14].

Core Viewpoint - Delek Logistics Partners, LP has declared a quarterly cash distribution of $1.125 per common limited partner unit for the fourth quarter of 2025, indicating a strong financial performance and commitment to returning value to unitholders [1]. Financial Summary - The annualized cash distribution amounts to $4.50 per common limited partner unit, reflecting a stable income stream for investors [1]. - The cash distribution is scheduled to be payable on February 12, 2026, to unitholders of record as of February 5, 2026, ensuring timely returns for investors [1]. Company Overview - Delek Logistics Partners, LP operates as a midstream energy master limited partnership, positioning itself within the energy sector to capitalize on logistics and transportation opportunities [1].