2024-03-05 18:31:19 ET
Summary
- Western Midstream Partners, LP has outperformed the market by roughly 50% and has the ability to drive strong returns.
- The company has started non-core divestitures to increase the overall value of its assets and has raised almost $800 million from non-controlling stake sales.
- Western Midstream focuses on increasing returns through share buybacks and has consistently reduced leverage, enabling it to put more cash towards buybacks and increase dividend savings.
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Western Midstream's Recent Strength Doesn't Change The Thesis