Western Midstream Partners, LP (NYSE:WES) is among the most profitable oil stocks to buy now. During the second quarter, Eagle Global Advisors LLC trimmed its stake in Western Midstream Partners, LP (NYSE:WES) by 18.8%, making the stock its seventh largest holding. With the offload of 446,480 shares, the fund owns 1,925,950 shares of the company’s stock, reflecting an ownership of 0.51% and an investment of $74,534,000.
While examining Western Midstream Partners, LP (NYSE:WES), we can’t ignore its solid dividend yield of over 9%. From an expanding asset base to disciplined capital management, the company serves as an attractive distribution play, particularly in the Delaware Basin.
Just recently, the company announced its entry into the water infrastructure market through the acquisition of Aris Water Solutions. This $1.5 billion deal is expected to enhance the company’s offerings and contribute to free cash flow in the year ahead. As long as the demand for energy needs and data centres keeps surging, we have a good reason to believe in the prospects of Western Midstream Partners, LP (NYSE:WES).
Western Midstream Partners, LP (NYSE:WES) is a Texas-based midstream energy company with assets in Texas, New Mexico, and the Rocky Mountains. Incorporated in 2007, the company is focused on improving lives through efficient energy delivery.
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