I found two cheap energy stocks that are all well worth considering for both current and future performance as well as their high dividend yields, suggests Chris Preston, editor of Cabot Wealth Network.

A huge new market in American natural gas exports is just now developing. U.S. natural gas production exploded during the energy boom and there was more of the stuff than we could use.

We couldn’t export it because we didn’t have the huge fractionalization facilities necessary to convert it to natural gas liquid (NGL) and ship our cheap gas overseas were it fetches much higher prices, until now. Cheniere Energy Partners (CQP) is an MLP that operates Sabine Pass, this country’s first natural gas export facility.

Other facilities will also come on line in the years ahead, but Cheniere was the first to the party. The partnership has secured long-term delivery contracts that should provide a stable income for the long haul.

Earnings have exploded as export volumes continue to soar. It also has more capacity coming on line next year. Earnings are expected to grow 45% per year over the next five years.

Revenues have soared over the last three years but the stock still sells at a price/earnings multiple below that of the overall market and currently pays a 5.5% yield.

Enterprise Product Partners (EPD) in one of the largest midstream energy companies in the country with a vast portfolio of service assets connected to the heart of American energy production. It is connected to every major U.S. shale basin and 90% of American refiners east of the Rockies, and offers export facilities as well in the Gulf of Mexico.

U.S. oil and gas production is at all-time record levels. EPD has little exposure to commodity prices but instead collects fees for the transport and storage of all this oil and gas sloshing around the country. And business is booming.

An estimated $44 billion per year will need to be spent on energy infrastructure to accommodate the new supply through 2035. Opportunities for growth abound. EPD has $5 billion in projects under construction and between $5 and $10 billion in development. That should provide ample growth to go with the 6% yield.

It’s worth noting that this is one of the best energy companies in the business. It has a pristine balance sheet with investment grade ratings and only a 60% ratio that enables the company to reinvest earnings in new and existing projects at a lower cost basis than its peers.

It has also raised the dividend for 60 straight quarters and has a phenomenal track record of performance over the last 20 years Despite the fact that earnings have grown by an average of 11% per year over the last five years, the stock is still 30% below the 2014 high.

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