Western Midstream Partners (NYSE:WES – Get Free Report) released its quarterly earnings data on Wednesday. The pipeline company reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.62, Briefing.com reports. The firm had revenue of $887.73 million during the quarter, compared to analyst estimates of $868.22 million. Western Midstream Partners had a return on equity of 33.58% and a net margin of 32.72%. The business’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.52 earnings per share.
Western Midstream Partners Trading Up 1.7 %
NYSE:WES traded up $0.62 during midday trading on Thursday, hitting $36.12. The stock had a trading volume of 661,608 shares, compared to its average volume of 1,237,439. Western Midstream Partners has a one year low of $25.04 and a one year high of $36.79. The company has a market capitalization of $13.74 billion, a price-to-earnings ratio of 13.91 and a beta of 2.82. The stock has a 50-day moving average of $34.96 and a 200 day moving average of $30.86. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 2.40.
Western Midstream Partners Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be paid a $0.875 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $3.50 annualized dividend and a yield of 9.69%. This is a boost from Western Midstream Partners’s previous quarterly dividend of $0.58. Western Midstream Partners’s dividend payout ratio is 134.62%.
Analysts Set New Price Targets
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Insider Buying and Selling
In other news, Director Lisa A. Stewart acquired 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were bought at an average price of $34.87 per share, with a total value of $87,175.00. Following the completion of the purchase, the director now directly owns 30,730 shares in the company, valued at $1,071,555.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Kenneth F. Owen purchased 7,000 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were acquired at an average cost of $33.96 per share, for a total transaction of $237,720.00. Following the acquisition, the director now owns 32,730 shares of the company’s stock, valued at approximately $1,111,510.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Lisa A. Stewart purchased 2,500 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was bought at an average price of $34.87 per share, for a total transaction of $87,175.00. Following the completion of the acquisition, the director now directly owns 30,730 shares in the company, valued at approximately $1,071,555.10. The disclosure for this purchase can be found here. 0.04% of the stock is owned by insiders.
Western Midstream Partners Company Profile
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.
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