The Lone Star Dividend Growth Portfolio: Betting On The Texas Economy

Texas TX Money Map Cash Economy Dollars 3d Illustration

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I’m a proud resident of the Lone Star State of Texas.

I realized recently that just as investors tend to have a home country bias in their investment portfolios, I also have a home state

Texas economy

Texas Office of Economic Development

Texas GDP growth vs US GDP growth

Federal Reserve

Fortune 500 CompanyIndustryDividend Yield
Exxon Mobil (XOM)Energy3.5%
McKesson Corp. (MCK)Health0.5%
AT&T (T)Telecom6.6%
Phillips 66 (PSX)Energy4.5%
Valero Energy (VLO)Energy3.7%
Dell Technologies (DELL)Tech3.3%
Energy Transfer (ET)Energy9.9%
Tesla (TSLA)Cons. Disc.N/A
Sysco (SYY)Cons. Staples2.7%
Caterpillar (CAT)Construction2.3%
ConocoPhillips (COP)Energy5.4%
Plains GP Holdings (PAGP)Energy7.9%
Enterprise Products Partners (EPD)Energy7.6%
Oracle (ORCL)Tech1.6%
American Airlines (AAL)TransportsN/A
Hewlett Packard Enterprise (HPE)Tech3.5%
D.R. Horton (DHI)Homebuilder0.9%
CBRE Group (CBRE)Real EstateN/A
NRG Energy (NRG)Utilities4.4%
Occidental Petroleum (OXY)Energy1.2%
Baker Hughes (BKR)Energy2.8%
Builders FirstSource (BLDR)IndustrialsN/A
Tenet Healthcare (THC)HealthN/A
Kimberly-Clark (KMB)Cons. Staples3.3%
Charles Schwab (SCHW)Financials2.0%
EOG Resources (EOG)Energy3.0%
HF Sinclair (DINO)Energy4.5%
Texas Instruments (TXN)Tech3.0%
Waste Management (WM)Utilities1.7%
Targa Resources (TRGP)Energy2.9%
Kinder Morgan (KMI)Energy6.9%
Cheniere Energy (LNG)Energy1.1%
Southwest Airlines (LUV)Transports2.5%
Halliburton (HAL)Energy2.3%
Pioneer Natural Resources (PXD)Energy11.3%
Fluor (FLR)ConsultingN/A
AECOM (ACM)Consulting0.9%
Jacobs Solutions (J)Consulting0.9%
Group 1 Automotive (GPI)Cons. Disc.0.8%
Quanta Services (PWR)Infrastructure0.2%
Vistra Corp. (VST)Utilities3.4%
Westlake (WLK)Chemicals1.3%
Yum China Holdings (YUMC)Restaurant0.8%
Celanese (CE)Chemicals2.7%
Huntsman Corp. (HUN)Chemicals3.8%
CenterPoint Energy (CNP)Utilities2.6%
APA Corp. (APA)Energy3.1%
KBR Inc. (KBR)Consulting0.9%
Diamondback Energy (FANG)Energy2.5%
Academy Sports and Outdoors (ASO)Cons. Disc.0.6%
Commercial Metals Company (CMC)Materials1.5%
EnLink Midstream (ENLC)Energy5.4%
Southwestern Energy (SWN)EnergyN/A

StockTexas ExposureDividend Yield
American Electric Power (AEP)~15-25%3.8%
American Homes 4 Rent (AMH)15%2.6%
Cullen/Frost Bankers (CFR)~100%3.6%
Crown Castle (CCI)N/A (HQ in Houston)5.6%
Camden Property Trust (CPT)26%3.8%
Capital Southwest (CSWC)N/A (HQ in Dallas)12.3%
EastGroup Properties (EGP)35%3.1%
Enterprise Products Partners (EPD)Majority7.6%
Essential Properties Realty Trust (EPRT)12%4.5%
InvenTrust Properties (IVT)41%4.0%
Kinder Morgan (KMI)Majority6.9%
Mid-America Apartment Communities (MAA)~25%3.8%
Main Street Capital (MAIN)N/A (HQ in Houston)6.9%
NNN REIT (NNN)17%5.1%
National Storage Affiliates (NSA)~35%5.8%
NexPoint Residential Trust (NXRT)23%4.1%
Vistra Corp. (VST)Majority3.4%
Whitestone REIT (WSR)~60%5.8%

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