Western Midstream: A Top Distribution Growth Play In The MLP Market

Western Midstream Partners offers an ~8% yield with above-average distribution growth, driven by aggressive acquisition-fueled expansion in the Permian Basin. WES trades at a 10.0x EV/EBITDA, justified by its robust EBITDA growth and concentrated, high-potential asset footprint. Distribution growth has outpaced industry peers, and leverage has fallen, despite debt-financed acquisitions. I maintain a bullish outlook on WES, favoring its growth prospects compared to more conservative MLPs. Western Midstream Partners (WES) is a promising midstream investment for investors who want to combine a high dividend with above-average distribution growth prospects.