WES Stock Recent News

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.

Western Midstream Partners LP (NYSE:WES ) Q2 2024 Earnings Conference Call August 8, 2024 2:00 PM ET Company Participants Daniel Jenkins - Director of IR Michael Ure - CEO Kristen Shults - CFO Conference Call Participants Gabe Moreen - Mizuho Keith Stanley - Wolfe Research Jeremy Tonet - JP Morgan Chase Spiro Dounis - Citi Manav Gupta - UBS Neel Mitra - Bank of America Zach Van Everen - TPH Operator Good afternoon, my name is Ludi and I will be your conference operator today. At this time, I would like to welcome everyone to the Western Midstream Partners Second Quarter 2024 Earnings Conference Call.

Reported second-quarter 2024 Net income attributable to limited partners of $369.8 million, generating second-quarter Adjusted EBITDA(1) of $578.1 million. Reported second-quarter 2024 Cash flows provided by operating activities of $631.4 million, generating second-quarter Free cash flow(1) of $424.8 million.

Western Midstream is growing its distribution while reducing its unit count, a wonderful sign of health. You can benefit today and tomorrow from this type of opportunity. Income provided by your portfolio can unlock potentially limitless possibilities.

The latest trading day saw Western Midstream (WES) settling at $40.37, representing a +1.41% change from its previous close.

Western Midstream (WES) reachead $42.74 at the closing of the latest trading day, reflecting a +1.62% change compared to its last close.

HOUSTON , July 18, 2024 /PRNewswire/ -- Today Western Midstream Partners, LP (NYSE: WES) ("WES" or the "Partnership") announced that the board of directors of its general partner declared a quarterly cash distribution ("Base Distribution") of $0.8750 per unit for the second quarter of 2024, or $3.50 on an annualized basis, which is in-line with the prior quarter's Base Distribution. WES's second-quarter 2024 Base Distribution is payable on August 14, 2024, to unitholders of record at the close of business on August 1, 2024.

Western Midstream (WES) closed at $41.77 in the latest trading session, marking a +0.05% move from the prior day.

USAC, WES and OHI made it to the Zacks Rank #1 (Strong Buy) income stocks list on July 16, 2024.