Inergy, L.P. increases dividend again
Inergy, L.P. | Investor Relations | Press Release.
One of the best income stocks I have come across since starting this site is Inergy L.P. (NRGY: 38.00 +0.14 +0.37%). This propane retailer and natural gas midstream company has again increased their quarterly payout. This is the 31st consecutive increase in the distribution. The stock currently yields almost 9%.
Inergy seems to be especially well managed to control costs and grow revenues. It has not had a hiccup in the 3 years I have been watching the stock. The retail propane business continues to make their margins in both high and low energy price scenarios. The natural gas midstream operations are also not dependent on energy prices.
It is hard to believe the market knocked this stock down to $12.40 per share when the world was ending last November. I would not mind another energy price scare to pick up this stock at a lower price.
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