Buckeye Partners LP (NYSE: BPL) boosted its distribution 5.1 percent in 2011, but the unit price declined about 4 percent over the same 12 months. Better distribution coverage and decent growth potential suggest this inefficiency will be reconciled in 2012.

If AT&T (NYSE: T) is the Rome of the "Telecom Moneyball" game, Income Spotlight Verizon Communications (NYSE: VZ) is the Sparta.

Brookfield Renewable Energy Partners LP (TSX: BEP-U, OTC: BRPFF) is the result of a combination of Brookfield Renewable Power Fund and renewable power assets from parent Brookfield Asset Management (TSX: BAM/A, NYSE: BAM). It's the biggest hydropower pure play on the planet.

This is a relatively low-risk way to lock in a high, preferred yield backed by a solid national broadband operation.

Pipeline companies support generous dividends with long-term, fee-based contracts to access their energy transport systems. Ones that are growing, such as Pembina Pipeline Corp (TSX: PPL, OTX: PBNPF), are among the best ways to build wealth for income investors.

AmeriGas Partners LP (NYSE: APU) recently boosted its payout, pushing its yield to 7 percent. The MLP, returning to the Income Portfolio, has also become a more valuable business.

Frontier Communications (NYSE: FTR) is riding the efficient integration of lines purchased from Verizon Communications (NYSE: VZ) to revenue and free cash flow growth.

A recent acquisition will more than double Atlantic Power Corp's (TSX: ATP, NYSE: AT) generating capacity and lays the foundation for future growth by adding talented people, extending the financial base and further diversifying the power mix.

Consolidated Communications (NSDQ: CNSL) continues to add connections and generate new cash flow to support its generous dividend.

Attempts by oversimplifiers to reduce the telecommunications battle to a zero-sum game are misguided, as first-quarter results from this stalwart demonstrate.