Enterprise Products Partners L.P. (EPD) will raise its quarterly distribution by 0.6 percent to $0.4325 per unit in the fourth quarter of 2018. The MLP also hiked its distribution by 0.6 percent in Q3.

The next distribution will be paid Thursday, November 8, 2018, to unitholders of record as of the close of business Wednesday, October 31, 2018. The new yield for the master limited partnership is 5.8% at a stock price of $29.19.

This distribution represents a 2.4 percent increase over the distribution declared with respect to the third quarter of 2017 and is the partnership’s 57th consecutive quarterly distribution increase and the 66th overall distribution increase since Enterprise’s initial public offering in 1998.

Enterprise Products Partners L.P. is a North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. EPD's services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage, and export and import terminals; crude oil gathering, transportation, storage, export and terminals; petrochemical and refined products transportation, storage and terminals; and a marine transportation business that operates primarily on the United States inland and Intracoastal Waterway systems.