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. As of early September 2026, the company operated the longest and most complex crude oil and liquids transportation system, at 18,085 miles. It also had 70,773 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). As of early September 2026, BHE Pipeline Group owned 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 Sep 13, 2026 at 1:30 PM EST | Fact-checked by Frank Bass

Key Points

The top pipeline stocks offer high-yielding and steadily rising dividends.
Pipeline companies are investing in expansions to meet rising energy demand.
Pipeline stocks generate stable cash flow backed by long-term contracts and government-regulated rate structures.

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 (they send 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)	$104.3 billion	5.83%
Enterprise Products Partners (NYSE:EPD)	$84.0 billion	5.67%
Energy Transfer (NYSE:ET)	$74.2 billion	6.24%
Kinder Morgan (NYSE:KMI)	$68.7 billion	3.82%
MPLX (NYSE:MPLX)	$60.7 billion	7.20%
Oneok (NYSE:OKE)	$60.9 billion	4.39%
Williams Companies (NYSE:WMB)	$89.1 billion	3.53%

Data as of Sep 14, 2026. Showing 7 of 7 total entries.

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1. Enbridge

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NYSE: ENB

Enbridge

Premium Feature

Moneyball Superscore

76/100

Today's Change

(0.84%) $0.40

Current Price

$48.16

Key Data Points

Market Cap

$104B

Day's Range

$47.70 - $48.68

52wk Range

$45.02 - $58.45

Volume

7.7M

Avg Vol

4.7M

Gross Margin

25.44%

Dividend Yield

5.83%

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Enbridge (ENB +0.84%) 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 stands out for its low-risk business model. Cost-of-service contracts and regulated rate structures support 98% of its earnings. That provides it with very durable cash flow to support its dividend, which it has increased for 31 consecutive years (in Canadian dollars). Enbridge has a multi-billion-dollar backlog of projects under construction, which should deliver around 5% annual cash flow per share growth after 2026 to support its growing dividend.

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2. Enterprise Products Partners

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NYSE: EPD

Enterprise Products Partners

Today's Change

(-0.51%) $-0.20

Current Price

$38.70

Key Data Points

Market Cap

$84B

Day's Range

$38.60 - $39.34

52wk Range

$30.01 - $40.16

Volume

4.1M

Avg Vol

2.9M

Gross Margin

12.98%

Dividend Yield

5.67%

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Enterprise Products Partners (EPD -0.51%) 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.

Enterprise Products Partners stands out for its financial strength, with the highest credit rating in the midstream space. That gives it the financial flexibility to continue expanding through acquisitions and completing expansion projects. It had $6.5 billion in major capital projects under construction as of early September 2026, with completion dates through the first quarter of 2029. That should support continued distribution growth (2026 was its 28th consecutive year of distribution increases).

3. MPLX

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NYSE: MPLX

MPLX

Today's Change

(-1.59%) $-0.95

Current Price

$58.89

Key Data Points

Market Cap

$61B

Day's Range

$58.53 - $60.09

52wk Range

$47.80 - $60.95

Volume

1.7M

Avg Vol

1.4M

Gross Margin

43.71%

Dividend Yield

7.20%

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MPLX (MPLX -1.59%) is an MLP formed by refining giant Marathon Petroleum (MPC +0.13%). 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 stands out for its distribution growth. MPLX has increased its payment every year since its formation in 2012 and 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

Premium Feature

Moneyball Superscore

74/100

Today's Change

(0.32%) $0.10

Current Price

$30.96

Key Data Points

Market Cap

$69B

Day's Range

$30.63 - $31.39

52wk Range

$25.60 - $34.80

Volume

14.5M

Avg Vol

10.5M

Gross Margin

36.32%

Dividend Yield

3.82%

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Kinder Morgan (KMI +0.32%) 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 nearly $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. Expansion projects will grow Kinder Morgan's cash flow, giving it more fuel to pay dividends. It delivered its ninth consecutive annual dividend increase in 2026.

5. Williams Companies

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NYSE: WMB

Williams Companies

Premium Feature

Moneyball Superscore

78/100

Today's Change

(-1.24%) $-0.90

Current Price

$71.95

Key Data Points

Market Cap

$89B

Day's Range

$70.89 - $73.33

52wk Range

$56.19 - $80.08

Volume

Avg Vol

7.3M

Gross Margin

43.93%

Dividend Yield

3.53%

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Williams Companies (WMB -1.24%) is also a large-scale natural gas pipeline company. The pipeline corporation owns and operates more than 32,000 miles of pipelines that handle about one-third of all the gas used in the U.S. each day.

The company stands out for its broad focus across the natural gas value chain. Williams has a large backlog of natural gas pipeline projects that will increase gas flows to power-generation facilities, liquefied natural gas (LNG) export terminals, and industrial facilities. It's also investing billions of dollars in several power-innovation projects to support the growing electricity demand from data centers. Additionally, it's 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 11% annually through 2030. That should support continued dividend growth (Williams has grown its payout at a 5% compound annual rate since 2020).

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6. Energy Transfer

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NYSE: ET

Energy Transfer

Today's Change

(-0.28%) $-0.06

Current Price

$21.49

Key Data Points

Market Cap

$74B

Day's Range

$21.34 - $21.67

52wk Range

$16.18 - $21.84

Volume

7.3M

Avg Vol

8.6M

Gross Margin

10.94%

Dividend Yield

6.24%

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Energy Transfer (ET -0.28%) 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 +1.88%) and natural gas compression services company USA Compression Partners (USAC -3.44%).

The company 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

Premium Feature

Moneyball Superscore

72/100

Today's Change

(0.36%) $0.35

Current Price

$96.97

Key Data Points

Market Cap

$61B

Day's Range

$95.97 - $99.04

52wk Range

$64.02 - $99.84

Volume

3.7M

Avg Vol

3.7M

Gross Margin

17.16%

Dividend Yield

4.39%

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Benefits and risks of investing in pipeline stocks

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: Investors in MLPs can defer tax on certain distributions they receive.

Meanwhile, some cons of pipeline investments are:

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: Most pipeline companies tend to grow earnings at a low- to mid-single-digit annual rate. As a result, they tend to offer less price appreciation than other sectors.
Interest rate sensitivity: Higher rates can impact pipeline stocks. It makes borrowing more expensive for funding acquisitions and refinancing existing debt.
Permitting and regulatory risk: Delays in receiving permits or regulatory approvals can slow growth and cause companies to abandon projects.

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?

Wood Mackenzie expects U.S. natural gas demand to rise from 115 bcfd in 2025 to over 160 bcfd by 2035. The main drivers are LNG and power demand, with the latter partly driven by AI data centers. This expected surge in gas demand will spur investment in new gas infrastructure, which 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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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

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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About the Author

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Investing in 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

Methodology: How these stocks were chosen

Should you invest in pipeline stocks?

Related investing topics

7 top pipeline stocks for 2026:

Key Data Points

3. MPLX

4. Kinder Morgan

5. Williams Companies

7. Oneok

How to invest in pipeline stocks

Key Data Points

Key Data Points

Key Data Points

Key Data Points

Key Data Points

Key Data Points