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This environment has the potential to pressure stocks while simultaneously enhancing the allure of dividend stocks for steady income. Goldman Sachs analyst John Mackay has endorsed certain high-yield payers such as MPLX (NYSE:MPLX) LP and Hess Midstream Partners (NYSE:HESM), LP in this context.
MPLX LP , a crucial player in North America’s oil and natural gas midstream industry with a $35 billion market cap, reported a Q2 distributable cash flow of $1.315 billion this year. The company posted a second quarter top line of $2.69 billion and an EPS of 91 cents per share. It also set its common share dividend at 77.5 cents per share with an annualized rate of $3.10, offering an 8.8% dividend yield.
Hess (NYSE:HES) Midstream Partners, primarily operating in the Williston Basin, reported a second quarter top line of $324 million and earnings of 50 cents per share. The company also disclosed a distributable cash flow for the second quarter of $202.6 million and net income for the same period of $25.1 million. Its common share dividend was set at $0.6011 per share with an annualized payment of just over $2.40 per share and supplemental payments since 2017, resulting in an 8.45% dividend yield.
As the Fed considers sustaining higher rates for longer due to inflationary pressures, these high-yield dividend stocks could provide investors with steady income amidst a climate of rising bond yields and potential stock market pressure.
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