WES - This Billionaire Is Pounding the Table For These Ultra-High-Yield Dividend Stocks
2024-04-29 06:15:00 ET
Bill Gross has made a lot of money investing in fixed income. He co-founded the investment management firm Pimco, where he became one of the top bond fund managers. Forbes states that Gross, known as the "Bond King," is worth about $1.7 billion.
While Bill Gross built his reputation, and net worth, on bonds, he's recently been pounding the table on a different income-focused investment: Master limited partnerships (MLPs) . In a recent post on X , formerly Twitter, Gross cautioned against investing in tech stocks. Instead, he highlighted that MLP pipelines "still have momentum" and that he owned Western Midstream Partners (NYSE: WES) and MPLX (NYSE: MPLX) . Here's a closer look at these top MLPs and whether investors should follow Gross' advice by investing in the sector.
Gross has advocated for Western Midstream in the past . The MLP owns midstream assets in the Rocky Mountains, North-central Pennsylvania, Texas, and New Mexico. Its primary focus is on gathering and processing (G&P) operations. Its services include:
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This Billionaire Is Pounding the Table For These Ultra-High-Yield Dividend Stocks