(Enterprise Products Partners): Investors are, from a big-picture perspective, worried that the push toward clean energy will leave old-timers in the carbon energy space, like midstream giant Enterprise Products Partners, languishing. That s not unreasonable, given the shifting winds in Washington. But 7.8%-yielding Enterprise is in a pretty strong position, even if lean times are ahead for the broader energy industry.
With a $50 billion market cap, this limited partnership is one of the biggest midstream players in North America. It owns a widely diversified portfolio of largely fee-based assets that generate consistent cash flows to support its distribution. To put a number on that, it covered its distribution by 1.6 times in pandemic-hit 2020 (1.2 times has historically been considered strong coverage). Meanwhile, it has very low leverage relative to peers, so its balance sheet is rock solid, too. Looking at growth, it has $2.4 billion of capital investment projects lined up in
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