Jul. 19, 2025 7:45 AM ETEPD, ET, AMLP, AMZA, KYN, TYG, MLPX, EMO, SRV, NML, EMLP, ENFR, ATMP, MLPA, MLPB, AMUB, EINC, USAI, UMI, TPYP, AMJB, ALEFX, MLPRInfrastructure Capital Advisors219 FollowersSummaryWhile the accounting terminology differs from REITs, many of the same pitfalls arise when evaluating MLP payout ratios using standard net income figures.In today's article, we’ll use Enterprise Products Partners, one of the largest and most widely held MLPs, as a case study to show what is the key input to watch when assessing distribution sustainability.The company’s April 2025 earnings release puts the total payout ratio at just 56%, a far cry from the 78.65% shown on Yahoo, even accounting for changes in the ensuing months.vaeenmaIn a previous article,[1] we explored how payout ratios for real estate investment trusts (REITs) are often misstated by public financial data platforms. These platforms typically calculate payout ratios as dividends divided by net income, which can give a distorted view of aThis article was written byInfrastructure Capital Advisors219 FollowersInfrastructure Capital Advisors ("Infrastructure Capital") is a leading provider of investment management solutions designed to meet the needs of income-focused investors. Jay Hatfield is CEO and CIO of the investment team. Mr. Hatfield is the lead portfolio manager of the InfraCap Small Cap Income ETF (NYSE: SCAP), InfraCap Equity Income Fund ETF (NYSE: ICAP), InfraCap MLP ETF (NYSE: AMZA), Virtus InfraCap U.S. Preferred Stock ETF (NYSE: PFFA), InfraCap REIT Preferred ETF (NYSE: PFFR), and a series of private accounts. Infrastructure Capital frequently appears on or is quoted in Fox Business, CNBC, Barron's, The Wall Street Journal, Yahoo Finance, TD Ameritrade Network, and Bloomberg Radio/TV. The team at Infrastructure Capital publishes a monthly market and economic report, quarterly commentaries, investing primers, and asset class and strategy research. In addition, Infrastructure Capital hosts a monthly webinar and attends industry conferences in an effort to provide educational investing resources.CommentsRecommended For You