10 Dividend Stocks For Steady Income

1. Energy Transfer LP (NYSE:ET)

Dividend Yield as of December 20: 6.90%

5-Year Share Price Return: 43.11%

Energy Transfer LP (NYSE:ET) is a Texas-based energy company that is engaged in the pipeline transportation and storage for natural gas, crude oil, and other refined products. The company has delivered impressive operational and financial performance this year, achieving several volume records in Q3, driven by organic growth initiatives and strategic acquisitions. Last November, the company acquired Crestwood Equity Partners in a $7.1 billion transaction, followed by the completion of its $3.1 billion acquisition of WTG Midstream in July. Moreover, it finalized two processing optimization projects: the Red Lake III processing plant and the pipeline connection between Midland and Cushing.

Energy Transfer LP (NYSE:ET) plans to allocate $2.8 billion to $3 billion toward growth capital projects in 2024. Among its new initiatives this year,  is the approval of its ninth natural gas liquids fractionator, expected to become operational in 2026. The company has multiple projects set to begin commercial service within the next two years, offering greater clarity on its future growth trajectory.

Energy Transfer LP (NYSE:ET) also reported a strong cash position in its latest quarter. Distributable cash flow (DCF) to partners, which represents the cash the company generates before capital expenditures for growth projects, increased by $4 million to reach $1.99 billion. Volumes across its systems were strong, with several volume records set during the quarter. On October 28, the company declared a 0.8% hike in its quarterly dividend to $0.3225 per share. This was the company’s 12th consecutive quarterly dividend increase. With a dividend yield of 6.9%, ET is one of the best stocks with steady dividends.

With a collective stake value of over $965.5 million, 29 hedge funds tracked by Insider Monkey held positions in Energy Transfer LP (NYSE:ET) at the end of Q3 2024.

Overall, Energy Transfer LP (NYSE:ET) ranks first on our list of the best stocks with steady dividends. While we acknowledge the potential for ET to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ET but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. 

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