On October 12, 2017, Western Gas Partners (WES) announced its third-quarter distribution ahead of its 3Q17 earnings release. It declared a distribution of $0.905 per share. That’s an increase of $0.015 per share (or 1.7%) compared to the previous quarter and a 7.1% increase compared to the same quarter in the prior year. That’s in line with its annual distribution growth guidance of 7.0%–9.0% for 2017.
WES’s GP (general partner) Western Gas Equity Partners (WGP) declared a distribution of $0.5375 per share for 3Q17, which represents a 2.0% rise compared to the previous quarter and a 20.0% rise compared to the same quarter in the prior year.
Western Gas Partners’ 3Q17 coverage ratio
Western Gas Partners’ distribution coverage ratio could fall in 3Q17 due to the expected decline in distributable cash flow and distribution growth. WES’s distribution coverage was 1.19x at the end of the previous quarter.
In the next part of this series, we’ll take a look at Western Gas Partners’ recent market performance.