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 most 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 70,273 miles of natural gas pipelines (including those owned and operated by DCP Midstream). On top of all that, its gas utilities own 198,529 miles of gas transmission, transportation, distribution, and service lines.

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 15% 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.

7 Best Pipeline Stocks for 2026 and How to Invest

By Matthew DiLallo – Updated Jul 9, 2026 at 4:17 PM EST | Fact-checked by Frank Bass

Key Points

Pipeline companies collect stable revenue from transportation fees.
Rising energy demand is boosting investment in new pipelines, supporting the sector's growth.
Investors can gain dividend income and potential tax benefits from pipeline MLPs.

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 some potential complications (including sending Schedule K-1 Federal tax forms).

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

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Although pipeline companies have faced headwinds from price volatility and environmental concerns that have slowed their expansion in the past, rising energy demand is driving renewed interest in new pipeline capacity.

7 top pipeline stocks for 2026:

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Ticker Information Table
Name and ticker	Market capMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.	Dividend yield
Enbridge (NYSE:ENB)	$119.4 billion	5.07%
Enterprise Products Partners (NYSE:EPD)	$80.6 billion	5.88%
Energy Transfer (NYSE:ET)	$67.7 billion	6.79%
Kinder Morgan (NYSE:KMI)	$71.5 billion	3.66%
MPLX (NYSE:MPLX)	$57.8 billion	7.35%
Oneok (NYSE:OKE)	$56.7 billion	4.67%
Williams Companies (NYSE:WMB)	$91.7 billion	2.73%

Data as of Jul 11, 2026. Showing 7 of 7 total entries.

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1. Enbridge

NYSE: ENB

Enbridge

Today's Change

(0.13%) $0.07

Current Price

$54.66

Key Data Points

Market Cap

$119B

Day's Range

$54.30 - $54.89

52wk Range

$44.37 - $58.45

Volume

2.3M

Avg Vol

4.4M

Gross Margin

30.95%

Dividend Yield

5.07%

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Enbridge (ENB +0.13%) operates the world's longest and most complex crude oil and liquids transportation system, moving 30% of all oil produced in North America. The Canadian corporation also operates natural gas transmission and distribution pipelines, carrying about 20% of all the gas consumed in the U.S. The company also has a growing renewable energy business.

The Canadian pipeline and utility company delivered its 31st consecutive annual dividend increase in late 2025 (in Canadian dollars). It should have plenty of power to continue increasing its payout. The company has a top-notch financial profile and a multibillion-dollar backlog of projects under construction, which it expects to come online through 2033. Meanwhile, it has more projects under development.

These projects and other growth drivers should increase Enbridge's cash flow per share by at least 3% in 2026 and by approximately 5% annually thereafter. That should support continued dividend increases within that annual range.

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2. Enterprise Products Partners

NYSE: EPD

Enterprise Products Partners

Today's Change

(-0.05%) $-0.02

Current Price

$37.27

Key Data Points

Market Cap

$81B

Day's Range

$36.88 - $37.42

52wk Range

$30.01 - $40.16

Volume

2.1M

Avg Vol

3.9M

Gross Margin

13.45%

Dividend Yield

5.88%

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Enterprise Products Partners (EPD -0.05%) 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 ($5.3 billion in major capital projects under construction as of mid-2026, with completion expected 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

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NYSE: MPLX

MPLX

Today's Change

(-0.42%) $-0.24

Current Price

$56.95

Key Data Points

Market Cap

$58B

Day's Range

$56.51 - $57.48

52wk Range

$47.80 - $59.98

Volume

1.2M

Avg Vol

1.9M

Gross Margin

44.12%

Dividend Yield

7.35%

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MPLX (MPLX -0.42%) is an MLP formed by refining giant Marathon Petroleum (MPC +0.15%). 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, including several new natural gas pipelines.

4. Kinder Morgan

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NYSE: KMI

Kinder Morgan

Today's Change

(-0.86%) $-0.28

Current Price

$32.12

Key Data Points

Market Cap

$71B

Day's Range

$31.77 - $32.48

52wk Range

$25.60 - $34.80

Volume

Avg Vol

10.7M

Gross Margin

35.41%

Dividend Yield

3.66%

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Kinder Morgan (KMI -0.86%) 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 over $10 billion in natural gas pipeline and other expansion projects it expects to complete by the second quarter of 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

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NYSE: WMB

Williams Companies

Today's Change

(-0.57%) $-0.43

Current Price

$75.02

Key Data Points

Market Cap

$92B

Day's Range

$74.11 - $75.81

52wk Range

$55.82 - $80.08

Volume

Avg Vol

6.8M

Gross Margin

43.17%

Dividend Yield

2.73%

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Williams Companies (WMB -0.57%) 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 backlog of natural gas pipeline 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 investing $9.6 billion in several power innovation projects, including gas supply, pipelines, and power generation, to support growing electricity demand from data centers. Williams is also investing in the Louisiana LNG project and building the related Driftwood Pipeline. These projects give Williams a clear line of sight to grow its earnings by more than 10% annually through 2030.

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6. Energy Transfer

NYSE: ET

Energy Transfer

Today's Change

(-0.66%) $-0.13

Current Price

$19.66

Key Data Points

Market Cap

$68B

Day's Range

$19.50 - $19.86

52wk Range

$16.18 - $20.70

Volume

6.6M

Avg Vol

11.7M

Gross Margin

11.57%

Dividend Yield

6.79%

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Energy Transfer (ET -0.66%) 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 +0.17%) and natural gas compression services company USA Compression Partners (USAC -0.07%).

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

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NYSE: OKE

Oneok

Today's Change

(0.47%) $0.42

Current Price

$89.92

Key Data Points

Market Cap

$57B

Day's Range

$88.33 - $90.50

52wk Range

$64.02 - $96.07

Volume

2.4M

Avg Vol

3.9M

Gross Margin

18.06%

Dividend Yield

4.67%

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Oneok (OKE +0.47%) is one of the largest integrated energy infrastructure companies. The pipeline corporation has a strategically located, 60,000-mile pipeline network. It handles natural gas, NGLs, crude oil, refined products, and carbon dioxide.

The pipeline company has transformed its operations through a series of acquisitions over the past few years. These deals will provide it with plenty of fuel to continue growing as it captures additional merger synergies over the next few years. Oneok also has several expansion projects on track to come online through mid-2028, including a large-scale gas pipeline and another pipeline to support a new LPG export terminal. These catalysts will enable the company to increase its dividend by 3% to 4% annually.

How to invest in pipeline stocks

Here's a step-by-step guide on how to invest in pipeline stocks:

Open your brokerage app: Log in to your brokerage account where you handle your investments. If you don't have one yet, take a look at our favorite brokers and trading platforms to find the right one for you.
Search for the stock: Enter the ticker name into the search bar to bring up the stock's trading page.
Decide how many shares to buy: Consider your investment goals and how much of your portfolio you want to allocate to this stock.
Select order type: Choose between a market order to buy at the current price or a limit order to specify the maximum price you're willing to pay.
Submit your order: Confirm the details and submit your buy order.
Review your purchase: Check your portfolio to ensure your order was filled as expected and adjust your investment strategy accordingly.

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Benefits and risks of investing in pipeline stocks

Investing in pipeline stocks has its share of benefits and drawbacks. Some pros of investing in pipeline stocks include:

Income: Most pipeline companies generate stable income backed by long-term fixed-rate contracts or government-regulated rate structures. That enables them to pay high-yielding dividends to their investors.
Low volatility: Pipeline companies tend to be less volatile than the average stock.
Potential tax advantages: Pipeline companies structured as MLPs can defer tax on some of the distributions they receive.

Meanwhile, some cons of pipeline investments are:

Slower growth: Most pipeline companies tend to grow their earnings at a low-to-mid single-digit annual rate.
Potential tax complications: MLPs send a Schedule K-1 federal tax form, which can delay and complicate your annual tax filing.
Lower price appreciation potential: Given their higher yields and slower growth rates, pipeline companies tend to offer less price appreciation potential.

Methodology: How these stocks were chosen

Nearly 30 pipeline and energy infrastructure companies trade publicly on major U.S. stock exchanges. That provides investors with lots of options. This report focused on the best ones based on the following characteristics:

Financial health
Dividend history and safety
Size
Long-term growth prospects

Each has the financial strength to continue growing its operations and dividends, positioning them to deliver attractive total returns over the long term.

Should you invest in pipeline stocks?

Forecasters expect U.S. natural gas demand to rise between 19 bcfd and 26 bcfd by 2030 from 2025's level of 115 bcfd. The main drivers are LNG and power demand, with the latter partly driven by AI data centers. This expected surge in gas demand will fuel the need for investment in new infrastructure, including pipelines. This catalyst should enable pipeline companies to grow their earnings and dividends in the coming years. That makes them compelling investment opportunities, especially for those seeking a growing stream of dividend income.

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FAQ

Investing in pipeline stocks: FAQ

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About the Author

Matt DiLallo has been a contributing Motley Fool stock analyst specializing in the energy, industrials, and real estate sectors since 2012. He also covers dividend-paying stocks, 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.

7 Best Pipeline Stocks for 2026 and How to Invest

Key Points

7 top pipeline stocks for 2026:

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

How to invest in pipeline stocks

Benefits and risks of investing in pipeline stocks

Methodology: How these stocks were chosen

Should you invest in pipeline stocks?

Related investing topics

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FAQ

Investing in pipeline stocks: FAQ

Are pipelines a good investment now?

Are pipelines a good investment now?

What company owns the most pipelines?

What company owns the most pipelines?

Does Warren Buffett own pipelines?

Does Warren Buffett own pipelines?

Why are pipeline stocks rising?

Why are pipeline stocks rising?

Is there a pipeline ETF?

Is there a pipeline ETF?

What are the tax advantages of investing in pipeline stocks?

What are the tax advantages of investing in pipeline stocks?

About the Author

Read Next

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Premium Investing Services

7 top pipeline stocks for 2026:

Key Data Points

Key Data Points

3. MPLX

Key Data Points

4. Kinder Morgan

Key Data Points

5. Williams Companies

Key Data Points

Key Data Points

Key Data Points

Benefits and risks of investing in pipeline stocks

Methodology: How these stocks were chosen

Should you invest in pipeline stocks?

5 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 for 2026 and How to Invest

Investing in pipeline stocks: FAQ

Are pipelines a good investment now?

Are pipelines a good investment now?

What company owns the most pipelines?

What company owns the most pipelines?

Does Warren Buffett own pipelines?

Does Warren Buffett own pipelines?

Why are pipeline stocks rising?

Why are pipeline stocks rising?

Is there a pipeline ETF?

Is there a pipeline ETF?

What are the tax advantages of investing in pipeline stocks?

What are the tax advantages of investing in pipeline stocks?

How to invest in pipeline stocks

7. Oneok