Western Midstream Just Raised Its Distribution by 52%. Where Is the Dividend Heading for This 9.4%-Yielding Stock?
Income-oriented investors tend to like midstream master limited partnerships (MLPs) for their high yields and increasing distributions. However, it isn't often that an MLP raises its distribution by 50% or more.
That's just what Western Midstream (NYSE: WES) did last month when it took its quarterly distribution from $0.575 per unit to $0.875. That's a 52% increase. It is also important to point out that this is its base distribution and not a special or variable dividend. The stock now yields an attractive 9.4% using its closing price on May 13.
Let's take a look at the pipeline operator's first-quarter results and where its distribution could be headed in the future.
Source Fool.com
MLP SE Stock
€6.44
0.160%
Currently there is a rather positive sentiment for MLP SE with 3 Buy predictions and 0 Sell predictions.
With a target price of 10 € there is a hugely positive potential of 55.28% for MLP SE compared to the current price of 6.44 €.
