5 Best MLP Dividend Stocks to Buy

4. Crestwood Equity Partners LP (NYSE:CEQP)

Dividend Yield as of October 17: 9.00%

Crestwood Equity Partners LP (NYSE:CEQP) is a Texas-based MLP that owns and operates midstream assets. The company is also engaged in the transportation and storage of natural gas and crude oil. In Q2 2022, the company reported revenue of $1.45 billion, which showed a 56% growth from the same period last year. Its net income for the quarter also jumped to $39.4 million, from $38.1 million in the prior-year quarter. The company’s distributable cash flow to common unitholders amounted to $108.1 million.

Crestwood Equity Partners LP (NYSE:CEQP) currently pays a quarterly dividend of $0.655 per share, with a dividend yield of 9.00%, as recorded on October 17. The company last raised its dividend in April 2022, which was its first dividend hike after the pandemic.

In May, Truist initiated its coverage on Crestwood Equity Partners LP (NYSE:CEQP) with a Buy rating and a $36 price target.

At the end of Q2 2022, PEAK6 Capital Management was the only hedge fund having stakes in Crestwood Equity Partners LP (NYSE:CEQP), valued at $37,000.