Western Midstream Partners (NYSE:WES) Posts Earnings Results, Misses Estimates By $0.09 EPS

Western Midstream Partners (NYSE:WES) issued its quarterly earnings data on Wednesday. The pipeline company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.09), Briefing.com reports. The business had revenue of $883.36 million during the quarter, compared to analyst estimates of $924.83 million. Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. Western Midstream Partners’s revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.70 earnings per share.

Western Midstream Partners Stock Down 3.3 %

NYSE:WES traded down $1.22 during mid-day trading on Friday, hitting $36.08. The company had a trading volume of 3,385,271 shares, compared to its average volume of 1,204,474. The business has a fifty day simple moving average of $38.48 and a 200-day simple moving average of $38.54. The company has a current ratio of 1.11, a quick ratio of 1.68 and a debt-to-equity ratio of 2.05. Western Midstream Partners has a 1 year low of $26.81 and a 1 year high of $42.80. The firm has a market capitalization of $13.73 billion, a price-to-earnings ratio of 9.20, a PEG ratio of 0.68 and a beta of 2.88.

Western Midstream Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be given a $0.875 dividend. This represents a $3.50 annualized dividend and a yield of 9.70%. The ex-dividend date is Friday, November 1st. Western Midstream Partners’s dividend payout ratio (DPR) is presently 89.29%.

Analyst Ratings Changes

A number of brokerages recently commented on WES. Royal Bank of Canada increased their price objective 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. Bank of America initiated 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 target on the stock. Morgan Stanley cut shares of Western Midstream Partners from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $42.00 to $40.00 in a research note on Friday, October 25th. Stifel Nicolaus raised their price target on shares of Western Midstream Partners from $39.00 to $40.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Finally, StockNews.com lowered shares of Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. 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 stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $38.13.

Insider Buying and Selling at Western Midstream Partners

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Western Midstream Partners stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the sale, the insider now directly owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.04% of the stock is currently owned by corporate insiders.

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.