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.
Pipelines are owned by a mix of oil and gas producers, utilities, and dedicated midstream companies. Midstream operators typically generate fee-based revenue by providing transportation capacity to producers, refiners, and utilities.
Some pipeline companies are structured as master limited partnerships (MLPs), which distribute a large share of cash flow to investors. Although pipeline expansion has faced headwinds from price volatility and environmental concerns, rising energy demand is driving renewed interest in new pipeline capacity.
Seven best pipeline stocks
More than 25 publicly traded midstream companies operate pipelines and related energy infrastructure. That gives investors lots of options. Here's a snapshot of some of the top pipeline stocks:
| Name and ticker | Market cap | Dividend yield |
|---|---|---|
| Enbridge (NYSE:ENB) | $107.4 billion | 5.47% |
| Enterprise Products Partners (NYSE:EPD) | $73.8 billion | 6.33% |
| Energy Transfer (NYSE:ET) | $63.6 billion | 7.10% |
| Kinder Morgan (NYSE:KMI) | $67.3 billion | 3.85% |
| MPLX (NYSE:MPLX) | $57.2 billion | 7.02% |
| Oneok (NYSE:OKE) | $49.4 billion | 5.24% |
| Williams Companies (NYSE:WMB) | $82.1 billion | 2.97% |
Market cap (short for capitalization) refers to a company's total value. To calculate market cap, simply multiply the share price by the number of shares. It's one way to evaluate how much a company is worth.
1. Enbridge
NYSE: ENB
Key Data Points
Enbridge (ENB -0.93%) operates the world's longest, most complex crude oil and liquids transportation system, moving 30% of all the 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, highlighted by offshore wind energy facilities in Europe.
Enbridge has a remarkable growth track record. The Canadian pipeline and utility company delivered its 30th consecutive annual dividend increase in 2025. 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 and in development.
Enbridge estimates that it will increase its cash flow per share at a 3% annual rate through at least 2026 and by approximately 5% annually thereafter. Although it's a leader in transporting fossil fuels, Enbridge is increasingly investing in cleaner energy sources such as renewables and green hydrogen energy.
2. Enterprise Products Partners
NYSE: EPD
Key Data Points
Enterprise Products Partners (EPD -0.95%) 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 ($6 billion of organic expansion projects under construction in late 2025). The company boasts the highest credit rating in the midstream space. This gives it the financial flexibility to continue expanding through acquisitions and completing expansion projects.
3. MPLX
NYSE: MPLX
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NYSE: KMI
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NYSE: WMB
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6. Energy Transfer
NYSE: ET
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NYSE: OKE
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