ET - 9.3% Yield And Investment-Grade Rating Yes! Western Midstream

2024-06-07 08:30:00 ET

Summary

• 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 is self-funding its asset expansion, driving toward operational excellence while prioritizing shareholder returns.

Co-authored with Long Player.

Introduction

There are more than 2.6 million miles of energy pipelines in the United States, keeping the economy supplied with vital fuel for domestic use and exports. They form part of the nation’s critical infrastructure to safely deliver natural gas, crude oil, and petrochemical products to power plants, refineries, terminals, industrial facilities, homes, and businesses....

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