Western Midstream Partners Lp Stock Price, News & Analysis

Western Midstream Partners, LP (WES) reported first-quarter 2021 financial results with a net income of $181.8 million, equating to $0.44 per common unit. The Partnership achieved Adjusted EBITDA of $443.1 million and cash flows from operating activities of $261.6 million. Notably, WES repaid $431 million of Senior Notes and repurchased over 1.1 million common units. Additionally, a distribution of $0.315 per unit was declared, marking a 1.3% increase from the previous quarter. Despite challenges from Winter Storm Uri, management remains optimistic about throughput and EBITDA growth in 2021.

Western Midstream Partners, LP (NYSE: WES) declared a quarterly cash distribution of $0.315 per unit for Q1 2021, representing a 1.3% increase over the previous quarter. This aligns with a projected 5% annualized growth rate. The distribution is payable on May 14, 2021, to unitholders of record by April 30, 2021. CEO Michael Ure emphasized improved financial flexibility and a commitment to debt repayment and stakeholder value. Additionally, WES continues its buyback program with $250 million authorization through December 31, 2021.

Western Midstream Partners, LP (NYSE: WES) has priced an underwritten secondary public offering of 10 million common units, up from an expected 8 million, generating gross proceeds of $173.5 million. The offering is set to close on March 25, 2021, pending customary conditions. An option for underwriters to purchase an additional 1.5 million units is also included. WES will not receive proceeds from this offering as it is conducted by an affiliate of Occidental Petroleum, and no units are being sold by WES itself.

Western Midstream Partners, LP (NYSE: WES) has announced a secondary public offering of 8,000,000 common units by an affiliate of Occidental Petroleum Corporation. The underwriter, BofA Securities, has a 30-day option to purchase an additional 1,200,000 units. WES will not receive any proceeds from this offering. The offering is subject to market conditions and the completion date is uncertain. Interested parties can obtain more information through the prospectus supplement and base prospectus available at the SEC's website.

Western Midstream Partners (WES) announced that Michael Ure, President and CEO, will participate in a Q&A session at the Bank of America Spring Virtual Energy Summit on March 18, 2021, at 2:00 p.m. EST. WES, a Delaware master limited partnership, focuses on acquiring and operating midstream assets across various locations, including Texas and New Mexico. The company engages in natural gas processing, transportation, and other related services. For further details, visit westernmidstream.com.

Western Midstream Partners, LP (NYSE: WES) announced the filing of its Annual Report on Form 10-K for the fiscal year ending December 31, 2020, with the SEC. The report includes audit financial statements and can be accessed on the company's website. WES operates midstream assets across several states, engaged in gathering, processing, and transporting natural gas and related products. Unitholders can request hard copies by contacting investor relations.

Western Midstream Partners, LP (NYSE: WES) announces participation in key industry conferences. Michael Ure, CEO, will engage in a Q&A session at the Credit Suisse Energy Summit on March 1, 2021, at 3:20 p.m. EST, with a live webcast available on the company's website. On March 2, Craig Collins and Charles Griffie will have one-on-one sessions at the Morgan Stanley Conference. Scott Peterson will participate at the J.P. Morgan Conference on March 3. Additionally, an interview with Michael Ure discussing Q4 results will be published on March 3 after market close.

Western Midstream Partners (WES) reported robust fourth-quarter and full-year 2020 results. Q4 net income was $258.2 million, with diluted earnings of $0.62 per unit and Adjusted EBITDA of $484 million. For the full year, net income reached $515.9 million, with Adjusted EBITDA totaling $2 billion. The company maintained system availability above 99% and executed a significant unit repurchase program. Despite challenges from the pandemic, WES reduced capital expenditures by nearly 50% from guidance, achieving $1.2 billion in free cash flow after distributions. 2021 outlook remains strong with Adjusted EBITDA guidance of $1.825-$1.925 billion.

Western Midstream Partners, LP (WES) announced a quarterly cash distribution of $0.311 per unit for Q4 2020, payable on February 12, 2021. Unitholders of record as of February 1, 2021 will receive this distribution. The Partnership will report its Q4 and full-year results on February 23, 2021, followed by a conference call on February 24, 2021, at 1 p.m. CST. WES engages in midstream activities across several U.S. regions, including natural gas processing and crude oil transportation.