Key Highlights

  • Five energy names offer yields from 2.79% to 6.13% in the October 26, 2026 session, with WTI near USD 102 in early trading, though a yield is a snapshot of past payouts and not a guarantee.
  • Plains All American Pipeline (NASDAQ:PAA) yields 6.13% on a USD 0.4175 quarterly distribution, and implied distributable cash flow of USD 0.70 per unit covered it about 1.7 times in the second quarter, simple arithmetic on two company figures.
  • Kinetik Holdings (NYSE:KNTK) yields 5.76% with dividend coverage of 1.47 times and raised 2026 adjusted EBITDA guidance to USD 1.04 billion to USD 1.1 billion, though leverage is 3.85 times.
  • Antero Midstream (NYSE:AM) yields 4.32% with free cash flow covering dividends about 1.75 times. DT Midstream (NYSE:DTM) yields 2.79% with 2026 EBITDA guidance reaffirmed at USD 1.155 billion to USD 1.225 billion.

Plains All American Pipeline (NASDAQ:PAA): Fee Income and a Cleaner Balance Sheet

Plains All American Pipeline (NASDAQ:PAA) traded at USD 26.73 on October 26, 2026, up 0.37%, with a market value of USD 18.86 billion and a 6.13% yield. The Canadian NGL sale to Keyera, closed on May 12, cut debt by about USD 2.9 billion and left pro forma leverage at 3.3 times. Second quarter adjusted EBITDA attributable to the partnership was USD 738 million, up 10%, and Permian tariff volumes reached 8,045 thousand barrels per day, up about 11%. Net income of USD 1.83 billion includes a gain of about USD 1.6 billion, so the 7.40 P/E is not a recurring multiple. Higher crude supports drilling and pipeline volumes without direct price exposure. Analysts added to targets in October, including UBS at USD 31 and Raymond James at USD 28, and the consensus target near USD 26.24 is only slightly above the price. Plains All American Pipeline (NASDAQ:PAA) is near the 52-week high of USD 26.39 shown on a price page dated October 21. The ex-distribution date is October 30 and Plains All American Pipeline (NASDAQ:PAA) reports on November 6. A drop in crude or in Permian volumes would test the distribution.

Kinetik Holdings (NYSE:KNTK): Raised Guidance and Takeover Talk

Kinetik Holdings (NYSE:KNTK) traded at USD 55.74 on October 26, up 0.07%, after a 3.47% gain on October 23, with a USD 9.05 billion market value. It reported record second quarter adjusted EBITDA of USD 280.8 million and free cash flow of USD 105.2 million, and guided the third quarter to USD 260 million to USD 270 million. A media report on September 10 said it was exploring a sale, which the company has not confirmed. Net debt was USD 3.94 billion with liquidity of about USD 1.07 billion. Delaware Basin gas comes with oil, so crude supports volumes, but Waha gas pricing forced shut-ins of about 250 million cubic feet per day. Kinetik Holdings (NYSE:KNTK) reports on November 4, and the dividend is USD 0.81 per quarter. Coverage of 1.47 times means about USD 0.68 of each USD 1.00 of distributable cash flow is paid out, simple arithmetic. Jefferies cut its target to USD 54 with a Hold rating while BofA raised to USD 62 with a Buy. Kinetik Holdings (NYSE:KNTK) also approved the USD 260 million Kings Landing II sour gas project in May.

Antero Midstream (NYSE:AM): Fee Income and Record Volumes

Antero Midstream (NYSE:AM) traded at USD 20.82 on October 26, down 0.14%, with a market value of USD 9.88 billion, a P/E of 24.99 and a 4.32% yield. Second quarter adjusted EBITDA was USD 289 million, adjusted free cash flow after dividends was USD 80 million and gathering volumes hit a record 4,124 million cubic feet per day, up 19%. Veolia proceeds of about USD 371 million let it call USD 650 million of 2028 notes and move below its three times leverage target. Its volumes depend on Antero Resources drilling, so oil helps only indirectly. Net debt was USD 3.59 billion at June 30. Antero Midstream (NYSE:AM) also bought back about USD 8 million of shares in the quarter, with about USD 310 million of authorization left. Capital One upgraded it to Overweight with a USD 25 target in September while UBS cut to USD 22. The ex-dividend date and the results release for Antero Midstream (NYSE:AM) are both October 28, and the multiple leaves little room for a miss.

DT Midstream (NYSE:DTM): Contracted Growth at a Discount to Its High

DT Midstream (NYSE:DTM) traded at USD 124.64 on October 26, up 0.59%, about 18% below its 52-week high of USD 152.88, with a USD 12.72 billion market value and a 27.34 P/E. Second quarter earnings of USD 1.09 per share missed a USD 1.15 consensus, but guidance was reaffirmed and an early 2027 EBITDA range of USD 1.225 billion to USD 1.295 billion points to about 6% growth at the midpoint. New Haynesville contracts include LEAP Phase 5 adding 200 million cubic feet per day, and about USD 2 billion of organic projects are commercialized. It has the least oil exposure of the five. The dividend is USD 0.88 per quarter, or USD 3.52 a year. Jefferies raised its target to USD 150 from USD 145 with a Buy rating, citing gas demand from utilities and data centers, while Barclays holds Equal Weight at USD 142. DT Midstream (NYSE:DTM) has the lowest oil exposure of the group. DT Midstream (NYSE:DTM) reports before the open on October 29, and permitting delays or a missed quarter would pressure a premium multiple.

Chord Energy (NASDAQ:CHRD): Oil Producer With 75% Free Cash Flow Returns

Chord Energy (NASDAQ:CHRD) traded at USD 157.82 on October 26, down 0.20%, after a 5.08% gain on October 23, with a 3.29% yield on a USD 1.30 quarterly base dividend. On October 19 it said third quarter volumes exceeded the high end of guidance, and it bought back USD 205 million of shares at USD 135.74 on average. It expects returns of 75% of free cash flow in the third quarter, up from 54% in the second. Its guidance assumed WTI at USD 75 for the second half, so crude near USD 102 is about USD 27 higher, simple arithmetic. Truist raised its target to USD 195 from USD 180 and Morgan Stanley to USD 178 from USD 169. Chord Energy (NASDAQ:CHRD) also agreed to sell non-operated Marcellus assets for USD 550 million gross, with cash of USD 804.7 million against debt of USD 1,482.2 million. Risks include lower fourth quarter oil of 156.0 to 159.0 thousand barrels per day and a new chief executive. Michael Lou now leads Chord Energy (NASDAQ:CHRD), which reports on November 4.

Where Things Stand

The headline answer depends on risk appetite, because the highest yield is not the safest. Plains All American Pipeline (NASDAQ:PAA) offers the highest yield with about 1.7 times coverage. Kinetik Holdings (NYSE:KNTK) adds growth with higher leverage. Antero Midstream (NYSE:AM) offers steady fee income at a rich multiple. DT Midstream (NYSE:DTM) does too, with less oil exposure. Chord pays less but returns more through buybacks. None is guaranteed, since dividends are set by boards and crude can fall. Next catalysts run from October 28 to November 6.