WES Stock Recent News

Western Midstream (WES) concluded the recent trading session at $38.80, signifying a -1.62% move from its prior day's close.

Why investors should use the Zacks Earnings ESP tool to help find stocks that are poised to top quarterly earnings estimates.

Here is how Western Midstream (WES) and Williams Companies, Inc. (The) (WMB) have performed compared to their sector so far this year.

My top midstream picks are Energy Transfer, Enbridge, and Enterprise Products Partners, with EPD being the best for durable income. After dissecting the fundamentals of WES, I have concluded that WES definitely deserves a spot in my Top 2 income producing midstream list, ranking just below EPD. In this article, I explain in a detailed manner why I have become so bullish on WES.

Western Midstream offers a strong 9% dividend yield and has shown impressive growth in natural gas and crude oil throughput. The company has reduced its net leverage from 5.0x to under 3.0x, enabling more cash for shareholder returns. With double-digit volume growth expected and stable EBITDA, WES is poised for continued financial strength and shareholder value.

Western Midstream provides an outsized, safe, and growing distribution to unitholders. The company's Mentone Train III project is online, and the North Loving cryogenic processing plant is going to be placed into service soon. WES is set to reach its targeted leverage ratio ahead of schedule.

Western Midstream (WES) closed the most recent trading day at $38.86, moving +1.46% from the previous trading session.

HOUSTON , Aug. 15, 2024 /PRNewswire/ -- Western Midstream Partners, LP (NYSE: WES) ("WES") announced today that its subsidiary, Western Midstream Operating, LP ("WES Operating"), has priced an offering of $800 million in aggregate principal amount of 5.45% senior notes due 2034 at a price to the public of 99.743% of their face value. The offering of the senior notes is expected to close on August 20, 2024 subject to the satisfaction of customary closing conditions.

Occidental is about to sell some midstream shares in a secondary offering, but that will not affect the future outlook. Western Midstream reported significant income gains in Q2 2024. The distribution for the current fiscal year is roughly 50% higher than the distribution rate for the last fiscal year.

WES continues to set new volume records in key basins. The completion of projects for new capacity over the next year and new deals for more volume with upstream producers underpin further growth. Distributions are among the best in the industry, with strong growth and the potential for special distributions each year.