Core Viewpoint - The article highlights three master limited partnerships (MLPs) that offer high yields, strong cash flow, and growth potential, making them suitable for income-focused investors Group 1: Energy Transfer - Energy Transfer has a yield of 7.6% and is entering a growth phase with significant projects, including a $5.3 billion Desert Southwest pipeline to transport natural gas from the Permian Basin to Arizona and New Mexico [2] - The company is progressing on the Lake Charles LNG export project, having partnered with MidOcean Energy and secured several offtake deals, with $5 billion in growth capital expenditures planned for this year [3][4] - Energy Transfer maintains a solid financial foundation with a distribution coverage ratio of 1.7x and has raised its distribution for 15 consecutive quarters, expecting 3% to 5% annual growth [4] Group 2: Enterprise Products Partners - Enterprise Products Partners offers a 7% yield and has increased its distribution for 26 consecutive years, with a strong coverage ratio and controlled leverage [5][6] - The company plans to spend between $4 billion and $4.5 billion in growth capital expenditures this year, a significant increase from $1.6 billion in 2022, with growth projects expected to come online soon [7] - Enterprise's cash flow is primarily from fee-based contracts, ensuring stability and a clear growth trajectory [5][6] Group 3: Western Midstream - Western Midstream provides the highest yield at 9.5%, supported by steady cash flows and disciplined management, with over 40% ownership by parent company Occidental Petroleum [9] - The company is expanding its produced water business, with significant projects like the Pathfinder produced water system and the North Loving natural gas processing plant [10] - Western Midstream's recent $2 billion acquisition of Aris Water Solutions is expected to be immediately accretive, enhancing its cash flow visibility and operational synergies [11][12]