Stock Alert: Western Midstream Partners Climbs 14%

(RTTNews) - Shares of Western Midstream Partners, LP (WES) are rising more than 14 percent or $1.30 in Tuesday's morning trade at $10.39.

Monday, Western Midstream said its third-quarter net income available to limited partners surged to $241.48 million or $0 .55 per common unit from $121.22 million or $0.27 per common unit in the year-ago period. Total revenues and other rose to $679.04 million from $666.03 million last year. For fiscal 2021, the company forecast adjusted EBITDA between $1.825 billion and $1.925 billion, and said that the board of directors of the Partnership's general partner has authorized the Partnership to commence a buyback program of up to $250 million of its common units through December 31, 2021.

Western Midstream Partners has traded in a range of $2.90 to $22.11 in the past 52 weeks.