Billionaire T. Boone Pickens Owns This 11.1% Dividend Stock

T. Boone Pickens has made several fortunes in the oil patch. First, he did it as a small-time wildcatter during the 1950s and 1960s. Then he took on “Big Oil” as a shareholder activist in the 1970s and 1980s. More recently, he has become an evangelist for American “energy independence.” For this reason, I always pay attention to his thoughts on the business. And in recent quarters, Pickens has started placing huge bets on pipeline stocks. He has also quietly boosted his position in a new company...

Energy Transfer Partners (ETP) stands to make a fortune. Right now, infrastructure remains the biggest factor holding back the oil boom. The industry doesn’t have enough pipelines, storage terminals, or processing plants to handle all of the crude coming out of the ground. For the partnership, this spells opportunity. Earlier this year, management wrapped up work on the Comanche Trail Pipeline, Trans-Pecos Pipeline, and WAHA Header system. These routes will export natural gas to Mexico and provide a big boost to the bottom line. Executives expect to complete several more projects later this year.

Source: Income Investor

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