Western Midstream Partners, LP (WES) To Go Ex-Dividend on May 1st

Western Midstream Partners, LP (NYSE:WES) declared a quarterly dividend on Monday, April 20th. Stockholders of record on Friday, May 1st will be paid a dividend of 0.93 per share by the pipeline company on Friday, May 15th. This represents a c) annualized dividend and a dividend yield of 9.0%. The ex-dividend date of this dividend is Friday, May 1st. This is a 2.2% increase from Western Midstream Partners’s previous quarterly dividend of $0.91.

Western Midstream Partners has increased its dividend by an average of 0.2%per year over the last three years and has raised its dividend every year for the last 5 years. Western Midstream Partners has a dividend payout ratio of 103.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Western Midstream Partners to earn $3.40 per share next year, which means the company may not be able to cover its $3.72 annual dividend with an expected future payout ratio of 109.4%.

Western Midstream Partners Stock Performance

Shares of Western Midstream Partners stock opened at $41.49 on Wednesday. Western Midstream Partners has a 52 week low of $35.25 and a 52 week high of $44.74. The business’s fifty day simple moving average is $41.28 and its 200-day simple moving average is $40.27. The firm has a market cap of $16.33 billion, a PE ratio of 13.83 and a beta of 0.73. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.97.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings results on Wednesday, February 18th. The pipeline company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.44). Western Midstream Partners had a net margin of 30.52% and a return on equity of 33.14%. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the company earned $0.85 EPS. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. Equities analysts forecast that Western Midstream Partners will post 3.26 earnings per share for the current year.

Insider Transactions at Western Midstream Partners

In other Western Midstream Partners news, SVP Christopher B. Dial sold 5,879 shares of the business’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $42.35, for a total transaction of $248,975.65. Following the sale, the senior vice president directly owned 185,011 shares in the company, valued at $7,835,215.85. This represents a 3.08% 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. Also, Director Robert G. Phillips purchased 1,250 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were acquired at an average price of $40.19 per share, for a total transaction of $50,237.50. Following the completion of the purchase, the director directly owned 5,296 shares of the company’s stock, valued at approximately $212,846.24. This trade represents a 30.89% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.04% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Western Midstream Partners

Large investors have recently bought and sold shares of the stock. Eagle Bay Advisors LLC purchased a new stake in Western Midstream Partners during the 4th quarter worth about $27,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Western Midstream Partners during the 4th quarter worth about $27,000. Rothschild Investment LLC increased its holdings in Western Midstream Partners by 76.2% during the 4th quarter. Rothschild Investment LLC now owns 793 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 343 shares during the period. Garton & Associates Financial Advisors LLC purchased a new stake in Western Midstream Partners during the 4th quarter worth about $32,000. Finally, Global Wealth Strategies & Associates purchased a new stake in Western Midstream Partners during the 4th quarter worth about $35,000. Hedge funds and other institutional investors own 84.82% of the company’s stock.

About Western Midstream Partners

Western Midstream Partners, LP (NYSE: WES) is a midstream energy infrastructure company that owns, operates and develops an integrated network of crude oil, natural gas and produced water gathering, processing, transportation and storage assets in the United States. The partnership’s primary offerings include pipeline transportation, fractionation services, natural gas liquids (NGL) logistics and produced water handling. Through its fee-based and commodity-based contracts, Western Midstream provides its customers with essential services that support efficient energy production and distribution.

The company’s asset portfolio spans key onshore basins, including the Delaware Basin in West Texas and southeastern New Mexico, the San Juan Basin in New Mexico and Colorado, and the Denver-Julesburg Basin in Colorado.