WES Stock Recent News

Western Midstream Partners offers a high dividend yield of 8.5%, making it an attractive choice for investors seeking income. The company operates in both natural gas and liquids, primarily working with Occidental Petroleum, and is benefiting from strong macro trends in the energy industry. Despite a 53% share price increase over the last year, Western Midstream Partners remains attractively priced with strong growth and a high yield.

HOUSTON , July 1, 2024 /PRNewswire/ -- Today Western Midstream Partners, LP (NYSE: WES) ("WES" or the "Partnership") announced that its 2023 Schedule K-3 reflecting items of international tax relevance is available online. Unitholders requiring this information may access their Schedules K-3 at www.taxpackagesupport.com/westernmidstream.

Western Midstream has massively increased its distribution this year. The MLP's capital recycling strategy has increased its cash flow while reducing its leverage ratio.

Western Midstream (WES) closed at $38.45 in the latest trading session, marking a +0.13% move from the prior day.

Done properly, income investing can address the age-old dilemma of having to continuously work to make ends meet. Western Midstream topped the analyst consensus for revenue in the first quarter. The company is making progress to bring its net leverage ratio to its 3x target.

Midstream MLPs represent the utilities of the oil and gas world, with predictable cash flows and long-term contracts. Bond King Bill Gross calls Western Midstream Partners, LP the best-of-breed in an undervalued sector. The market has yet to appreciate Western Midstream's substantial 52% distribution increase fully.

Western Midstream Partners, LP is an undervalued midstream MLP with a 9.1% distribution yield. The company benefits from its strategic position in the Permian Basin and strong financials backed by Occidental Petroleum. Western Midstream Partners offers a high distribution yield, steady cash flow, and potential for capital appreciation, making it an attractive opportunity for income-focused investors.

Western Midstream reported strong first-quarter results and raised its quarterly base distribution to $0.875 per unit. Investors could see enhanced distribution in 2025 above its base distribution.

Western Midstream has an impressive portfolio of assets and is managing to continue growth volumes. The company has an almost 10% dividend yield that it can comfortably afford. Despite the Occidental Petroleum risk, we expect the company to keep growing and generating strong returns, making it a valuable investment.

Bill Gross recently posted on social media that he sees Western Midstream as a top opportunity in MLPs. MLPs are generally less volatile energy stocks, and are also required to pay out a distribution to investors.