Core Viewpoint - Plains All American Pipeline, L.P. (PAA) is showing potential for a bullish breakout due to a recent "golden cross" in its moving averages, indicating a positive trend reversal [1][2]. Technical Analysis - PAA's 50-day simple moving average has crossed above its 200-day simple moving average, forming a "golden cross," which is a bullish signal in trading [1][2]. - A golden cross typically suggests that a stock may experience a bullish breakout, as it indicates a shift from a downtrend to an upward momentum [2][3]. Price Movement - Over the past four weeks, PAA has experienced a rally of 5.1%, suggesting positive momentum in its stock price [4]. - The combination of the recent price rally and the technical indicators suggests that PAA could be poised for further gains [4]. Earnings Outlook - PAA's earnings outlook is positive, with no earnings estimates being cut and one revision higher in the past 60 days, indicating confidence among analysts [4]. - The Zacks Consensus Estimate for PAA has also increased, further solidifying the bullish case for the company [4][5].

Group 1: Clearwater Energy - Clearwater Energy is one of the largest renewable energy companies in the U.S., with a gross power generation capacity of approximately 12.7 gigawatts across 27 states [2] - The company has two share classes, with Class A shares offering a forward dividend yield just below 6% and Class C shares at 5.6% [3] - Clearwater's Class C shares have risen over 20% in the last 12 months, and Wall Street projects a potential upside of around 30% for these shares in the next 12 months [5] Group 2: Energy Transfer LP - Energy Transfer LP operates pipelines for natural gas, NGLs, crude oil, and refined products across the U.S., along with energy assets like processing and storage facilities [6] - The company has a forward distribution yield exceeding 7.9% and aims to increase its distribution by 3% to 5% annually, supported by its strong financial position [7] - Analysts are bullish on Energy Transfer, with 17 out of 20 rating it as a "buy" or "strong buy," and the average price target is approximately 29% above the current unit price [9] Group 3: Vici Properties - Vici Properties is a real estate investment trust (REIT) that owns 93 properties, including major tenants like Caesars Entertainment and MGM Resorts [11] - The REIT has a forward dividend yield of 6.4% and has increased its dividend at a compound annual growth rate of 6.6% over the past seven years [12] - Wall Street analysts favor Vici, with 19 out of 24 rating it as a "buy" or "strong buy," and the consensus price target suggests a potential upside of around 26% [14]

Core Viewpoint - Energy Transfer plans to invest between $5.0 billion and $5.5 billion in growth capital in 2026, focusing on enhancing its natural gas network [1] Investment Plans - The investment will primarily target projects that improve the company's natural gas infrastructure [1]

Core Viewpoint - The midstream master limited partnership (MLP) sector offers attractive income opportunities for investors, particularly through pipeline companies that have stable business models less affected by commodity price fluctuations [1]. Group 1: Western Midstream - Western Midstream Partners has a high yield of 9.2%, supported by a strong balance sheet and well-covered distributions [3]. - The company ended the last quarter with a leverage ratio of 2.8 times and holds an investment-grade credit rating, indicating financial stability [4]. - Western generates strong free cash flow exceeding its distribution, with significant business coming from its parent company, Occidental Petroleum [4]. - The acquisition of Aris Water Solutions will diversify Western's customer base, enhancing its growth potential [4]. - The company is focusing on produced water disposal in the Delaware Basin, with the Pathfinder Pipeline project being a key growth initiative [5]. - Western's enterprise value-to-EBITDA multiple is just over 8 times based on 2026 estimates, making it an attractive option for income-oriented investors [6]. Group 2: MPLX - MPLX offers an 8.1% yield and maintains a strong balance sheet, with a leverage ratio of 3.7 times and a distribution coverage level of 1.3 times based on its distributable cash flow [7][9]. - The company has repositioned its portfolio for growth through a series of acquisitions and divestitures, enhancing its attractiveness in the midstream sector [8].

Core Viewpoint - Oneok is highlighted as an attractive passive income investment due to its high dividend yield and stable cash flow from long-term contracts [1][3]. Group 1: Dividend and Income Generation - Oneok currently offers a dividend yield of 5.6%, significantly higher than the S&P 500's yield of approximately 1.1% [1]. - The company pays a quarterly dividend of $1.03 per share, which annualizes to $4.12 [4]. - To generate $1,000 in annual dividend income, an investor would need to own about 243 shares, requiring an investment of roughly $17,840 at a stock price of $73.50 [4]. Group 2: Financial Performance and Growth - Oneok has a market capitalization of $47 billion and a gross margin of 19.10% [6]. - The company has a history of over 25 years of dividend stability and growth, with a recent 4% increase in its payout [3][6]. - Oneok aims to increase its dividend by 3% to 4% annually, supported by ongoing investments in high-return expansion projects, including a new LPG export terminal and a natural gas pipeline expected to be operational by 2028 [6].

Core Viewpoint - A federal court has allowed Sable Offshore to restart its California pipeline while a lawsuit is still ongoing [1] Group 1 - The court's decision facilitates the resumption of operations for Sable Offshore's pipeline [1] - The lawsuit against Sable Offshore remains active, indicating ongoing legal challenges [1]

Group 1: Plains All American Pipeline (PAA) - The company is a master limited partnership (MLP) involved in the transportation, storage, terminalling, and marketing of crude oil, natural gas, natural gas liquids (NGL), and refined products in the U.S. and Canada [1] - The Zacks Consensus Estimate for its current year earnings has increased by 4.9% over the last 60 days [1] - The company has a dividend yield of 8.5%, which is higher than the industry average of 6.3% [2] Group 2: The Gap (GAP) - The company is a premier international specialty retailer offering a diverse range of clothing, accessories, and personal care products [2] - The Zacks Consensus Estimate for its current year earnings has increased by 2.9% over the last 60 days [2] - The company has a dividend yield of 2.6%, compared to the industry average of 0.0% [2] Group 3: Analog Devices (ADI) - The company is an original equipment manufacturer of semiconductor devices, specifically analog, mixed signal, and digital signal processing (DSP) integrated circuits [3] - The Zacks Consensus Estimate for its current year earnings has increased by 5.3% over the last 60 days [3] - The company has a dividend yield of 1.4%, which is higher than the industry average of 0.0% [3]

Core Viewpoint - The article discusses top dividend stock picks for the upcoming year, highlighting a diverse selection across different sectors, including a REIT, materials, energy, and healthcare stocks, aimed at providing stable income regardless of market conditions [1][3]. Group 1: Stock Selections - Amcor is highlighted for its recent merger with Barry, projecting 13% earnings growth next year and 11% the following year, and is considered a dividend aristocrat [4]. - Bristol Myers is noted for its strong cash flow and potential for earnings growth, although its growth is expected to materialize further out [2][4][16]. - Enbridge, a major pipeline company with 40,000 miles of oil and gas pipelines, is positioned to benefit from ongoing energy demand without being overly exposed to oil and gas price cycles [5]. - Vichy, primarily a REIT focused on casinos, maintained 100% occupancy during the pandemic and is currently trading nearly 10% below its recent high, offering a 6.4% yield [6][9]. Group 2: Market Context and Performance - The selected stocks generally yield around 6%, with Bristol Myers yielding approximately 4.5%, and all are trading at about 10 times earnings [2]. - The healthcare sector, particularly for Bristol Myers, is expected to see improved clarity and appreciation due to ongoing discussions around drug pricing [5]. - Vichy's stock performance has been impacted by perceptions of weakness in Las Vegas, despite its strong occupancy rates and long-term leases with high-quality tenants [7][11]. Group 3: Dividend Strategy and Economic Considerations - The discussion emphasizes the importance of dividend income, especially in a context of potentially higher interest rates, suggesting that dividends may still provide better income growth compared to treasury yields [18][19]. - The historical growth rate of dividend income is noted to be around 5.5%, aligning with the S&P's dividend growth, making dividend-paying stocks attractive for income-seeking investors [19]. - Companies like Amcor face challenges in assessing their debt portfolios and interest expenses in a rising rate environment, particularly with significant maturities approaching in 2027 [20][21].

Core Viewpoint - Energy Transfer has secured sufficient agreements to proceed with a final investment decision on its Lake Charles LNG project, expected early next year [1] Company Summary - Energy Transfer is a U.S. pipeline operator focused on liquefied natural gas (LNG) projects [1] - The company is advancing its Lake Charles LNG project, indicating strong market demand and strategic positioning in the LNG sector [1] Industry Summary - The LNG market is experiencing growth, with companies like Energy Transfer capitalizing on increasing demand for natural gas exports [1] - The successful agreements for LNG sales reflect a positive trend in the industry, suggesting robust future investments in LNG infrastructure [1]

Core Insights - Kinder Morgan expects an 8% growth in adjusted profit for 2026 compared to the 2025 forecast, driven by strong natural gas demand [1] Company Summary - Kinder Morgan is a pipeline operator that is projecting significant profit growth due to increasing demand for natural gas [1]