Western Midstream Partners, LP (WES) to Issue Quarterly Dividend of $0.88 on November 14th

Western Midstream Partners, LP (NYSE:WES) declared a quarterly dividend on Thursday, October 17th, NASDAQ reports. Investors of record on Friday, November 1st will be paid a dividend of 0.875 per share by the pipeline company on Thursday, November 14th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 9.36%. The ex-dividend date is Friday, November 1st.

Western Midstream Partners has increased its dividend payment by an average of 11.2% per year over the last three years. Western Midstream Partners has a payout ratio of 94.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Western Midstream Partners to earn $3.65 per share next year, which means the company should continue to be able to cover its $3.50 annual dividend with an expected future payout ratio of 95.9%.

Western Midstream Partners Trading Down 1.6 %

NYSE:WES opened at $37.39 on Wednesday. The company has a 50-day moving average price of $38.61 and a 200-day moving average price of $38.39. The stock has a market cap of $14.23 billion, a price-to-earnings ratio of 10.53, a P/E/G ratio of 0.72 and a beta of 2.87. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.08. Western Midstream Partners has a 12 month low of $26.49 and a 12 month high of $42.80.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.88 by $0.09. The business had revenue of $905.63 million during the quarter, compared to analyst estimates of $904.94 million. Western Midstream Partners had a net margin of 44.01% and a return on equity of 47.19%. Western Midstream Partners’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same period last year, the business posted $0.64 earnings per share. Equities analysts predict that Western Midstream Partners will post 4.13 EPS for the current year.

Wall Street Analysts Forecast Growth

WES has been the subject of a number of research analyst reports. StockNews.com cut Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday. Bank of America assumed coverage on shares of Western Midstream Partners in a research note on Thursday, October 17th. They set an “underperform” rating and a $37.00 price objective on the stock. Royal Bank of Canada raised their target price on shares of Western Midstream Partners from $38.00 to $41.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Stifel Nicolaus raised their price objective on Western Midstream Partners from $39.00 to $40.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Finally, Morgan Stanley downgraded Western Midstream Partners from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $42.00 to $40.00 in a report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $38.13.

Insider Transactions at Western Midstream Partners

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the transaction, the insider now owns 165,681,578 shares in the company, valued at $5,923,116,413.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.04% of the company’s stock.

About Western Midstream Partners

Western Midstream Partners, LP, together with its subsidiaries, operates as a midstream energy company primarily in the United States. It is involved in gathering, compressing, treating, processing, and transporting natural gas; gathering, stabilizing, and transporting condensate, natural gas liquids (NGLs), and crude oil; and gathering and disposing produced water.