5 Best Income Stocks to Invest In

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In this article we discuss the 5 best income stocks to invest In. If you want to read our detailed analysis of, go directly to the 10 Best Income Stocks to Invest In.

5. Phillips 66 Partners LP (NYSE: PSXP)

Dividend Yield: 9.66%
Number of Hedge Fund Holders: 4

Phillips 66 Partners LP (NYSE: PSXP) is an oil company that owns, acquires, and develops midstream assets. Phillips 66 stock has been on an upward trajectory after the company announced it is seeking merger or partnership deals for its MLP partners. The stock ranks 5th in the list of best income stocks to invest in.

The company finished the first quarter of 2021 with a strong balance sheet with cash and cash equivalents of $3 million. The Partnership declared a quarterly dividend of $0.875/share. The company has a record of increasing dividends since October 2013.

In a bid to expand its capacity, Phillips 66 Partners LP (NYSE: PSXP) is constructing a 16-inch C2G ethane pipeline, which is expected to be complete by the end of 2021. The new pipeline will connect the company’s Clemens Caverns storage facility to Gregory petrochemical facilities in Corpus Christi.

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