Western Midstream Partners LP
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WES Western Midstream Partners LP
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Energy : Oil, Gas & Consumable Fuels | Mid Cap Value
Company profile

Western Midstream Partners LP, formerly Western Gas Equity Partners, LP, is a limited partnership. The Company is formed to own approximately three types of partnership interests in Western Gas Partners, LP (WES). WES is an master limited partnership (MLP) engaged in the business of gathering, compressing, treating, processing and transporting natural gas, and gathering, stabilizing and transporting condensate, natural gas liquids (NGLs) and crude oil. WES provides these midstream services for Anadarko Petroleum Corporation (Anadarko), as well as for third-party producers and customers. Its assets and investments are located in the Rocky Mountains (Colorado, Utah and Wyoming), North-central Pennsylvania and Texas. The Bison treating facility treats and compresses gas from coal-bed methane wells in the Powder River Basin of Wyoming. MIGC, LLC receives gas from various coal-bed methane gathering systems in the Powder River Basin and the Hilight system.

Postmarket

Last Trade
Delayed
$13.12
0.06 (0.46%)
Bid
--
Ask
--
B/A Size
--

Market Hours

Closing Price
$13.06
Day's Change
0.45 (3.57%)
Bid
--
Ask
--
B/A Size
--
Day's High
13.21
Day's Low
12.03
Volume
(Heavy Day)
Volume:
4,563,730

10-day average volume:
2,206,864
4,563,730

UPDATE: Fannie Mae, Freddie Mac stocks sink after Trump administration's plan unveiled; Moody's says it's credit negative

2:20 pm ET September 6, 2019 (MarketWatch)
Print

Shares of Fannie Mae (FNMA) plunged 12.3% and Freddie Mac (FMCC) plummeted 11.4% in afternoon trading Friday, after the Trump administration unveiled its plan for housing finance reform (http://www.marketwatch.com/story/trump-administration-unveils-sweeping-plan-to-reform-housing-finance-system-2019-09-05), including recapitalization and ending the conservatorship of Fannie and Freddie. "Although Treasury does not believe a government guarantee is required, Treasury would support legislation that authorizes an explicit, paid-for guarantee backed by the full faith and credit of the Federal Government that is limited to the timely payment of principal and interest on qualifying mortgage-backed securities," the Treasury Department said. Moody's analyst Warren Kornfeld said he Treasury's proposals are "credit negative" for the government-sponsored enterprises' (GSE) unsecured creditors, as the reduction in the GSE's systemic importance wold reduce the likelihood of government support. Moody's rates Fannie's and Freddie's long-term senior unsecured debt at Aaa. Thursday's selloff in Fannie and Freddie shares come after both more than doubled year to date, with Fannie's stock up 145.8% and Freddie's up 134.0% this year. In comparison, the Dow Jones Industrial Average rose 14.8% year to date.

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

September 06, 2019 14:20 ET (18:20 GMT)

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