Finding growth and a dividend in an MLP

I love stocks that pay dividends. I love stocks that steadily increase their dividend over time. I also love stocks that deliver capital appreciation. If I can own a stock that delivers all three of these income streams, I am a happy investor indeed.

Many of the publicly traded master-limited partnerships (MLPs) have been very good to investors over the years. I want to warn you, however, that if you own an MLP in a non-qualified account, you will have to file an extra partnership return with your taxes each year that you own the MLP.

You can get around this, if you wish, by owning one of the exchange-traded funds (ETFs) that tracks the publicly traded master-limited partnerships. We even now have an MLP index that you can invest in. I rank all of the various indexes out there on a daily basis. I rank them on short-term, intermediate-term, and long-term performance.

The MLP index is ranked number seven overall right now. Note that it is ranked right below the Nasdaq index � not too bad.

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Data from Best Stocks Now app

Amongst the income and growth-oriented accounts that I manage, one of my favorite positions right now is Magellan Midstream Partners MMP . Magellan is a large-cap company headquartered in Tulsa, Oklahoma. The company engages in the transportation, storage, and distribution of petroleum products in the United States.

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Data from Best Stocks Now app

Check out how the stock has performed over the years.

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Data from Best Stocks Now app