Western Midstream Partners, LP (WES) to Issue Quarterly Dividend of $0.93 on August 14th

Western Midstream Partners, LP (NYSE:WES) declared a quarterly dividend on Friday, July 17th. Investors of record on Friday, July 31st will be paid a dividend of 0.93 per share by the pipeline company on Friday, August 14th. This represents a c) annualized dividend and a dividend yield of 7.9%. The ex-dividend date is Friday, July 31st.

Western Midstream Partners has increased its dividend payment by an average of 0.2%annually over the last three years and has increased 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 $3.67 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 101.4%.

Western Midstream Partners Price Performance

WES stock opened at $47.20 on Wednesday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.34. The firm’s 50-day moving average price is $44.66 and its two-hundred day moving average price is $42.80. The stock has a market capitalization of $18.59 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 1.94 and a beta of 0.68. Western Midstream Partners has a 12-month low of $36.90 and a 12-month high of $48.63.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings data on Wednesday, May 6th. The pipeline company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.11. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Western Midstream Partners had a return on equity of 33.89% and a net margin of 29.98%.The business’s revenue was up 22.5% on a year-over-year basis. During the same quarter last year, the business posted $0.79 EPS. As a group, equities analysts predict that Western Midstream Partners will post 3.49 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on WES shares. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Western Midstream Partners in a research report on Tuesday, July 21st. US Capital Advisors upgraded shares of Western Midstream Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, May 29th. Mizuho upped their price objective on shares of Western Midstream Partners from $48.00 to $51.00 and gave the stock an “outperform” rating in a report on Tuesday, July 14th. Stifel Nicolaus set a $46.00 price target on Western Midstream Partners and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, JPMorgan Chase & Co. lifted their price objective on Western Midstream Partners from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $46.25.

Western Midstream Partners Company Profile

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.