With Its Sale Plan Shelved, Is This 10.4%-Yielding Dividend Stock Worth Buying?
Oil giant Occidental Petroleum (NYSE: OXY) needs to sell a boatload of assets to help pay for its acquisition of Anadarko Petroleum. Among those it hoped to unload was its controlling stake in master limited partnership (MLP) Western Midstream (NYSE: WES). However, with the midstream company's valuation sinking in recent months, Occidental has pressed "pause" on that plan. As a result, Western Midstream will remain public at least until next year.
With some near-term clarity and a much lower valuation, investors might be wondering if it's now a good time to buy shares of this high-yielding MLP. Here's a look at the cases for and against buying Western Midstream after its failed sale.
Image source: Getty Images.
Source Fool.com
