5 Best Income Stocks to Invest In

2. Shell Midstream Partners, L.P. (NYSE: SHLX)

Dividend Yield: 11%
Number of Hedge Fund Holders: 7

Shell Midstream Partners, L.P. (NYSE: SHLX) is an oil company that owns, operates, and develops pipelines and other logistical and midstream assets in the U.S. The company has a record of increasing dividend since January 2015.

The company recently reported $163 million or $0.37 per share in net income attributable to the Partnership for Q1 2021. Shell Midstream Partners, L.P. (NYSE: SHLX)’s also reported $201 million in revenue attributed to the partnership.

In its quarterly update, the company said it had reported an 11% growth in offshore oil pipeline volumes in Q1, although onshore flows continued to drop due to the COVID-19 pandemic. Shell Midstream Partners, L.P. (NYSE: SHLX)’s Louisiana coast-based Mars crude oil pipeline system reported a 13.0% growth in volumes from 441K/ bbl/day in Q4 2020 498K in Q1 2021.

Shell Midstream Partners, L.P. (NYSE: SHLX) is working on expanding the system by ~65K bbl/day, and currently, the group is acquiring materials for the expansion.