Are pipelines a good investment now?

Yes, pipelines are a good investment now. Most pipeline companies generate highly predictable income from fee-based contracts and government-regulated rate structures. That gives them the cash flow to pay attractive dividends and invest in growing their operations. With energy demand rising, pipeline companies should be able to continue increasing their cash flows and dividends. That should enable these companies to produce attractive total returns over the long term.

What company owns the most pipelines?

Enbridge owns the largest number of pipelines in North America. The company operates the longest and most complex crude oil and liquids transportation system, at 18,085 miles. It also has 72,552 miles of natural gas pipelines (including those owned and operated by DCP Midstream). On top of all that, its utilities own 110,606 miles of gas transmission and distribution pipelines.

Does Warren Buffett own pipelines?

Yes, Warren Buffett's company, Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B), owns pipelines through its subsidiary Berkshire Hathaway Energy (BHE). BHE Pipeline Group owns 21,000 miles of gas pipelines that transport about 14% of all gas consumed in the U.S. each year.

Why are pipeline stocks rising?

Pipeline stocks have risen in recent years amid a resurgence in natural gas demand. Catalysts such as data centers, the onshoring of manufacturing, and the electrification of everything are powering a surge in electricity demand. This factor will drive demand for more natural gas in the future, providing pipeline companies with additional opportunities to expand. That growth potential has been driving their stock prices higher.

Is there a pipeline ETF?

There are several ETFs focused on investing in pipeline companies, including Global X MLP & Energy Infrastructure ETF (NYSEMKT: MLPX), Alerian Energy Infrastructure ETF (NYSEMKT: ENFR), Alerian MLP ETF (NYSEMKT: AMLP), and First Trust North American Energy Infrastructure Fund (NYSEMKT: EMLP).

What are the tax advantages of investing in pipeline stocks?

Pipeline companies structured as a master limited partnership have several tax advantages:They don't pay corporate income taxes, avoiding double taxation.MLP distributions often get treated as a return of capital, which is tax-deferred.Step-up in basis to heirs inheriting MLP units to the market price on the date of transfer, reducing potential inheritance taxes.

Bars

Best Pipeline Stocks for 2026 and How to Invest

By Matthew DiLallo – Updated Apr 5, 2026 at 2:02 PM EST | Fact-checked by Frank Bass

Key Points

Pipeline companies generate steady earnings from long-term contracts and government-regulated rate structures.
Future projects and rising energy demand should drive dividend growth.
Investors can purchase pipeline stocks through brokerage apps.

Pipeline stocks are publicly traded companies that own and operate midstream energy infrastructure. The U.S. has about 3 million miles of pipelines that transport natural gas and liquid fuels to power plants, refineries, businesses, and homes, making them essential to the country’s energy supply.

A mix of oil and gas producers, utilities, and dedicated midstream companies owns most pipelines. Midstream operators typically generate stable fee-based revenue by providing transportation capacity to producers, refiners, and utilities. Some of these pipeline-focused companies are master limited partnerships (MLPs), which offer potential tax advantages but also pose complications.

Loading paragraph...

A looping pipeline with the sun setting in the background. — Image source: Getty Images.

Loading image...

Loading paragraph...

Ticker Information Table
Name and ticker	Market cap	Dividend yield
Enbridge (NYSE:ENB)	$114.5 billion	5.21%
Enterprise Products Partners (NYSE:EPD)	$81.8 billion	5.75%
Energy Transfer (NYSE:ET)	$65.9 billion	6.92%
Kinder Morgan (NYSE:KMI)	$70.6 billion	3.69%
MPLX (NYSE:MPLX)	$56.5 billion	7.31%
Oneok (NYSE:OKE)	$54.9 billion	4.77%
Williams Companies (NYSE:WMB)	$87.6 billion	2.83%

Data as of Apr 24, 2026. Showing 7 of 7 tickers.

Loading ticker_table...

1. Enbridge

Loading paragraph...

NYSE: ENB

Enbridge

Today's Change

(1.35%) $0.70

Current Price

$52.50

Key Data Points

Market Cap

$115B

Day's Range

$51.79 - $52.62

52wk Range

$43.59 - $55.44

Volume

5.1K

Avg Vol

5.2M

Gross Margin

32.74%

Dividend Yield

5.21%

Loading company_card...

Loading paragraph...

2. Enterprise Products Partners

Loading paragraph...

NYSE: EPD

Enterprise Products Partners

Today's Change

(0.27%) $0.10

Current Price

$37.84

Key Data Points

Market Cap

$82B

Day's Range

$37.50 - $38.14

52wk Range

$29.66 - $39.73

Volume

1.2

Avg Vol

4.8M

Gross Margin

12.86%

Dividend Yield

5.75%

Loading company_card...

Enterprise Products Partners (EPD +0.27%) is one of the largest MLPs. The fully integrated midstream energy company operates 50,000 miles of pipelines transporting natural gas liquids (NGLs), crude oil, natural gas, petrochemicals, and refined products. It also has storage, processing, manufacturing, and export facilities.

Like Enbridge, Enterprise Products Partners has an excellent growth track record. The MLP delivered its 27th consecutive year of distribution increases in 2025 and has plenty of fuel to continue growing ($4.8 billion of major capital projects under construction that should enter service by the end of 2027). The company boasts the highest credit rating in the midstream space, giving it the financial flexibility to continue expanding through acquisitions and completing expansion projects.

3. MPLX

Loading paragraph...

NYSE: MPLX

MPLX

Today's Change

(-0.16%) $-0.09

Current Price

$55.61

Key Data Points

Market Cap

$56B

Day's Range

$55.27 - $56.16

52wk Range

$47.80 - $59.98

Volume

0.37

Avg Vol

1.9M

Gross Margin

45.17%

Dividend Yield

7.31%

Loading company_card...

MPLX (MPLX -0.16%) is an MLP formed by refining giant Marathon Petroleum (MPC -0.44%). It operates crude oil and refined product logistics assets, as well as natural gas and NGL services. Its midstream operations generate significant cash, most of which it distributes to shareholders, retaining some to help fund its continued expansion.

The MLP has increased its distribution payment every year since its formation in 2012. It has delivered a robust 11.6% compound annual distribution growth rate since 2022. MPLX should have no trouble continuing to grow its payout. It has a large slate of expansion projects under construction that it expects to complete by the end of the decade.

4. Kinder Morgan

Loading paragraph...

NYSE: KMI

Kinder Morgan

Today's Change

(-0.25%) $-0.08

Current Price

$31.73

Key Data Points

Market Cap

$71B

Day's Range

$31.07 - $32.40

52wk Range

$25.60 - $34.73

Volume

Avg Vol

14M

Gross Margin

34.70%

Dividend Yield

3.69%

Loading company_card...

Kinder Morgan (KMI -0.25%) is one of the biggest natural gas pipeline companies in the U.S. The pipeline corporation operates the largest natural gas transmission network, comprising 66,000 miles of pipelines that transport approximately 40% of the country's gas volume.

The company is capitalizing on surging demand for natural gas. It has secured about $10 billion in natural gas pipeline and other expansion projects it expects to complete by mid-2030. Meanwhile, it's pursuing more than $10 billion of additional expansions. Those projects will grow Kinder Morgan's cash flow, giving it more fuel to pay dividends. It expects to deliver its ninth consecutive annual dividend increase in 2026.

5. Williams Companies

Loading paragraph...

NYSE: WMB

Williams Companies

Today's Change

(0.77%) $0.55

Current Price

$71.65

Key Data Points

Market Cap

$88B

Day's Range

$71.24 - $72.03

52wk Range

$55.82 - $76.87

Volume

558

Avg Vol

Gross Margin

41.57%

Dividend Yield

2.83%

Loading company_card...

Williams Companies (WMB +0.94%) is also a large-scale natural gas pipeline company. The pipeline corporation owns and operates more than 33,000 miles of pipelines that handle about one-third of all the gas used in the U.S. each day.

Williams has a large pipeline of natural gas expansion projects that should fuel its growth in the coming years. These projects will increase the flow of gas to power-generation facilities, liquefied natural gas (LNG) export terminals, and industrial facilities.

It's also building several natural gas-fired power plants to support growing electricity demand. These projects give Williams a clear line of sight to grow its earnings at a rate of more than 10% annually through 2030.

Loading paragraph...

6. Energy Transfer

Loading paragraph...

NYSE: ET

Energy Transfer

Today's Change

(0.42%) $0.08

Current Price

$19.15

Key Data Points

Market Cap

$66B

Day's Range

$18.98 - $19.16

52wk Range

$15.80 - $19.86

Volume

Avg Vol

16M

Gross Margin

12.27%

Dividend Yield

6.92%

Loading company_card...

Energy Transfer (ET +0.42%) is a diversified MLP with large-scale crude oil, natural gas, NGL, and refined product pipeline operations. It owns and operates more than 130,000 miles of pipelines in the U.S. It also owns stakes in two other MLPs: fuel distributor Sunoco LP (SUN +0.14%) and natural gas compression services company USA Compression Partners (USAC +2.12%).

The company also spends billions of dollars each year on expansion projects. Energy Transfer had several projects in the backlog, including the $2.7 billion Hugh Brinson Pipeline (late 2026 in-service date for Phase I and early 2027 for Phase II) and $5.6 billion Desert Southwest expansion of the Transwestern Pipeline System (late 2029 expected completion date). It has a strong balance sheet, giving it the flexibility to continue investing in expansion projects, making acquisitions, and increasing its distribution (annual growth target range of 3% to 5%).

7. Oneok

Loading paragraph...

NYSE: OKE

Oneok

Today's Change

(1.44%) $1.24

Current Price

$87.30

Key Data Points

Market Cap

$55B

Day's Range

$85.85 - $87.30

52wk Range

$64.02 - $95.30

Volume

Avg Vol

5.1M

Gross Margin

18.31%

Dividend Yield

4.77%

Loading company_card...

Loading paragraph...

Pipeline stocks FAQ

Loading faq...

About the Author

Matt DiLallo has been a contributing Motley Fool stock market analyst specializing in covering dividend-paying companies, particularly in the energy and REIT sectors, since 2012. He also covers pre-IPO companies, ETFs, and other investing topics. He holds an MBA from Liberty University.

TMFmd19

@MatthewDiLallo

Matt DiLallo has positions in Enbridge, Energy Transfer, Enterprise Products Partners, and Kinder Morgan. The Motley Fool has positions in and recommends Enbridge and Kinder Morgan. The Motley Fool recommends Enterprise Products Partners and Oneok. The Motley Fool has a disclosure policy.

Best Pipeline Stocks for 2026 and How to Invest

Key Points

1. Enbridge

Key Data Points

2. Enterprise Products Partners

Key Data Points

3. MPLX

Key Data Points

4. Kinder Morgan

Key Data Points

5. Williams Companies

Key Data Points

6. Energy Transfer

Key Data Points

7. Oneok

Key Data Points

Related investing topics

Best Energy Stocks for 2026 and How to Invest

Investing in Farmland: A Real Estate Investor's Guide

Best Nuclear Energy Stocks in 2026 and How to Invest

Best Water ETFs to Consider: Are They Right for Your Portfolio?

Pipeline stocks FAQ

About the Author

Read Next

Stocks Mentioned

Premium Investing Services

Best Energy Stocks for 2026 and How to Invest

Investing in Farmland: A Real Estate Investor's Guide

Best Nuclear Energy Stocks in 2026 and How to Invest

Best Water ETFs to Consider: Are They Right for Your Portfolio?

Key Data Points

Pipeline stocks FAQ

Are pipelines a good investment now?

What company owns the most pipelines?

Does Warren Buffett own pipelines?

Why are pipeline stocks rising?

Is there a pipeline ETF?

What are the tax advantages of investing in pipeline stocks?

1. Enbridge

2. Enterprise Products Partners

6. Energy Transfer

Benefits and risks of investing in Pipeline stocks

Should you invest in pipeline stocks?

Related investing topics

FAQ

7 top pipeline stocks for 2026:

Key Data Points

Key Data Points

Key Data Points

Key Data Points

Key Data Points

Key Data Points

3. MPLX

4. Kinder Morgan

5. Williams Companies

7. Oneok

How to invest in pipeline stocks