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Want to Make More Passive Income? These 2 Dividend Stocks Offer Yields Above 6%.
There are lots of ways to make more passive income. Investing in higher-yielding dividend stocks can be a great option. The best ones pay a lucrative and growing dividend. Energy Transfer (NYSE: ET) and Clearway Energy (NYSE: CWEN)(NYSE: CWEN.A) currently offer dividend yields above 6%. That's several times higher than the S&P 500's rather meager 1.2% dividend yield. Even better, they expect to grow their high-yielding payouts in the coming years. Because of that, they should be able to supply investors with a lot of passive income in the future. Energy Transfer currently has a 6.2% distribution yield. At that rate, every $100 invested into the energy midstream company would produce $6.20 of passive income each year, compared to only $1.20 from an S&P 500 index fund. The master limited partnership (MLP) backs its high-yielding payout with stable cash flow and a rock-solid financial foundation. About 90% of its earnings come from predictable fee-based contracts as it provides midstream services to energy companies. Meanwhile, it has a conservative payout ratio (a little more than 50% of its free cash flow) and a strong balance sheet. Its leverage ratio is currently heading toward the low end of its 4 to 4.5 times target range. Continue reading
There are lots of ways to make more passive income. Investing in higher-yielding dividend stocks can be a great option. The best ones pay a lucrative and growing dividend.
Energy Transfer (NYSE: ET) and Clearway Energy (NYSE: CWEN)(NYSE: CWEN.A) currently offer dividend yields above 6%. That's several times higher than the S&P 500's rather meager 1.2% dividend yield. Even better, they expect to grow their high-yielding payouts in the coming years. Because of that, they should be able to supply investors with a lot of passive income in the future.
Energy Transfer currently has a 6.2% distribution yield. At that rate, every $100 invested into the energy midstream company would produce $6.20 of passive income each year, compared to only $1.20 from an S&P 500 index fund. The master limited partnership (MLP) backs its high-yielding payout with stable cash flow and a rock-solid financial foundation. About 90% of its earnings come from predictable fee-based contracts as it provides midstream services to energy companies. Meanwhile, it has a conservative payout ratio (a little more than 50% of its free cash flow) and a strong balance sheet. Its leverage ratio is currently heading toward the low end of its 4 to 4.5 times target range.
