Western Midstream Partners, LP (NYSE:WES) Announces $0.32 Dividend

Western Midstream Partners, LP (NYSE:WES) announced a dividend on Wednesday, July 21st, investing.com reports. Stockholders of record on Friday, July 30th will be paid a dividend of 0.319 per share by the pipeline company on Friday, August 13th. This represents a dividend yield of 6.49%. The ex-dividend date of this dividend is Thursday, July 29th.

Western Midstream Partners has decreased its dividend payment by 72.0% over the last three years and has increased its dividend annually for the last 1 consecutive years. Western Midstream Partners has a payout ratio of 53.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Western Midstream Partners to earn $2.50 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 49.6%.

NYSE WES traded up $0.05 during trading hours on Wednesday, reaching $19.70. 1,607,321 shares of the company were exchanged, compared to its average volume of 1,494,191. Western Midstream Partners has a 1 year low of $6.99 and a 1 year high of $23.69. The firm has a 50 day simple moving average of $21.26. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 2.52. The company has a market cap of $8.14 billion, a PE ratio of 8.20 and a beta of 3.93.

Western Midstream Partners (NYSE:WES) last posted its quarterly earnings data on Monday, May 10th. The pipeline company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.10). Western Midstream Partners had a return on equity of 33.71% and a net margin of 35.91%. The company had revenue of $674.97 million for the quarter, compared to analysts’ expectations of $637.44 million. During the same quarter last year, the business posted ($0.57) EPS. The business’s quarterly revenue was down 12.8% on a year-over-year basis. As a group, equities analysts predict that Western Midstream Partners will post 2.27 EPS for the current year.

WES has been the subject of a number of research analyst reports. Bank of America upgraded shares of Western Midstream Partners from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $22.00 to $25.00 in a report on Tuesday. Mizuho raised their price objective on shares of Western Midstream Partners from $22.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, May 13th. Zacks Investment Research upgraded shares of Western Midstream Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, June 23rd. Wells Fargo & Company increased their target price on shares of Western Midstream Partners from $25.00 to $26.00 and gave the stock an “overweight” rating in a research report on Thursday, June 24th. Finally, Royal Bank of Canada increased their target price on shares of Western Midstream Partners from $16.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 13th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Western Midstream Partners presently has an average rating of “Buy” and an average target price of $20.23.

Western Midstream Partners Company Profile

Western Midstream Partners, LP, together with its subsidiaries, acquire, own, develop, and operate midstream assets primarily in the United States. It is involved in gathering, compressing, treating, processing, and transporting of natural gas; gathering, stabilizing, and transporting of condensate, natural gas liquids, and crude oil; and gathering and disposing of produced water.

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Dividend History for Western Midstream Partners (NYSE:WES)

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