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It isn't immune to the oil price though doesn't have a lot of raw commodity exposure. Its pipelines move 2.8 million barrels of oil and it scores 11 million barrels of oil. Also processes 5 billion cubic feet daily of natural gas. 70% of their revenues are take-or-pay contracts, plus 20% are fee-for-service. It's like a toll road. Pays a yield of 6% and trades at 15x PE, in line with peers. PPL is a reliable compounder over time, 8% annual compunded return.
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