Western Midstream's Strong Performance and Future Distribution Expectations
Sunday, 19 May 2024, 09:40
Western Midstream Raises Distribution by 52%
Investors saw a 52% increase in Western Midstream's distribution, setting a positive tone for the future.
Great Start to the Year
- *Western Midstream* recorded record Q1 EBITDA, showing significant year-over-year growth.
- Free cash flow also surged, with strong throughput trends across its asset base.
Where the Distribution is Headed
- The company plans to enhance distributions in 2025, backed by solid cash flow projections.
- With excess cash flow and debt reduction plans, Western Midstream aims for a 3 times leverage by year end.
The stock remains attractive with a 9.4% yield and potential for increased distributions next year.
A 9.4% yield with the opportunity of enhanced distributions next year makes *Western Midstream* a very attractive stock for investors looking for income.This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.