3 Monthly Dividend Stocks to Snag in the Energy Sector

The price of WTI Crude and Western Canadian Select (WCS) have gained solid momentum over the past month. Goldman Sachs has projected that oil prices will continue to rise into the spring and summer, benefiting from a resurgent North American economy. Investors on the hunt for income should look to add monthly dividend stocks in the energy sector.

Pembina Pipeline (TSX:PPL)(NYSE:PBA) is a Calgary-based company that provides transportation and midstream services for the energy sector. Its shares have climbed 24% in 2021 as of mid-afternoon trading on April 30. Pembina last paid out a monthly dividend of $0.21 per share. That represents a tasty 6.6% yield.

Keyera (TSX:KEY) is also based in Calgary. This company is engaged in energy infrastructure businesses in Canada. Its shares have increased 23% so far in 2021. Pembina stock is up 36% year over year. Distributable cash flow (DCF) climbed 21% from the prior year to $718 million in 2020.

Shares of Keyera possess a high P/E ratio but it is still in better value territory than the average in its industry. It offers a monthly dividend of $0.16 per share, which represents a 6.8% yield.

AltaGas (TSX:ALA), which is also based in Calgary, operates as a diversified energy infrastructure company. Its shares are up 22% in 2021 and 37% from the previous year. AltaGas offers a monthly distribution of $0.083 per share. That represents a 4.4% yield.