|Bid||8.78 x 1000|
|Ask||8.81 x 800|
|Day's Range||8.51 - 8.87|
|52 Week Range||2.90 - 23.28|
|Beta (5Y Monthly)||3.65|
|PE Ratio (TTM)||9.36|
|Earnings Date||Nov 02, 2020 - Nov 06, 2020|
|Forward Dividend & Yield||1.24 (14.77%)|
|Ex-Dividend Date||Jul 30, 2020|
|1y Target Est||11.64|
Today Western Midstream Partners, LP (NYSE: WES) ("WES" or the "Partnership") announced that the board of directors of its general partner declared a quarterly cash distribution of $0.311 per unit for the third quarter of 2020. WES's third-quarter 2020 distribution is payable November 13, 2020, to unitholders of record at the close of business October 30, 2020.
Today Western Midstream Partners, LP (NYSE: WES) ("WES") announced a re-composition of the board of directors (the "Board") of Western Midstream Holdings, LLC, its general partner (the "General Partner"). Kenneth F. Owen, David J. Schulte, and Lisa A. Stewart (each a "New Director") were appointed as independent directors. In connection with a reduction in the size of the Board from eleven to eight directors, Steven D. Arnold, Marcia E. Backus, James R. Crane, Thomas R. Hix, Craig W. Stewart, and David J. Tudor will be leaving the Board. The changes to the Board are effective immediately. Each New Director will serve on both the Audit Committee and the Special Committee of the Board, with Mr. Owen serving as the Chairman of the Audit Committee and Mr. Schulte serving as the Chairman of the Special Committee.
Today Western Midstream Partners, LP (NYSE: WES) ("WES" or the "Partnership") announced the exchange of its 98% interest in the $260 million 6.50% fixed-rate note receivable due 2038 from Occidental Petroleum Corporation (NYSE: OXY) ("Occidental") for 27.855 million WES common units owned by Occidental (the "Exchange"). The units will be canceled following the Exchange. The net effect of this transaction increases WES's per-annum Free cash flow1 after distributions by approximately $18.1 million based on current per-unit annualized distributions.