Western Midstream Partners, LP (WES) to Issue Quarterly Dividend of $0.93 on November 13th

Western Midstream Partners, LP (NYSE:WES) declared a quarterly dividend on Monday, October 19th. Shareholders of record on Monday, November 2nd will be given a dividend of $0.93 per share by the pipeline company on Friday, November 13th. This represents a $3.72 annualized dividend and a yield of 8.4%. The ex-dividend date is Monday, November 2nd.

Western Midstream Partners has increased its dividend by an average of 0.2% annually over the last three years and has increased its dividend annually for the last 5 consecutive years. Western Midstream Partners has a 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. Analysts expect Western Midstream Partners to earn $3.95 per share next year, which means the company should continue to be able to cover its $3.72 annual dividend with an expected future payout ratio of 94.2%.

Western Midstream Partners Price Performance

NYSE WES opened at $44.48 on Wednesday. The stock has a market capitalization of $18.38 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 1.19 and a beta of 0.74. Western Midstream Partners has a 1-year low of $36.90 and a 1-year high of $50.07. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.91 and a quick ratio of 0.91. The business’s fifty day moving average price is $47.07 and its 200-day moving average price is $45.15.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings data on Wednesday, August 5th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.08. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.13 billion. Western Midstream Partners had a net margin of 29.44% and a return on equity of 33.13%. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.87 EPS. On average, equities analysts predict that Western Midstream Partners will post 3.67 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Morgan Stanley lifted their price objective on Western Midstream Partners from $51.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 18th. Wells Fargo & Company upped their price objective on Western Midstream Partners from $43.00 to $46.00 and gave the stock an “equal weight” rating in a report on Monday, August 10th. Mizuho increased their target price on Western Midstream Partners from $48.00 to $51.00 and gave the company an “outperform” rating in a research report on Tuesday, July 14th. JPMorgan Chase & Co. began coverage on shares of Western Midstream Partners in a report on Tuesday. They issued a “neutral” rating and a $50.00 target price for the company. Finally, Royal Bank Of Canada boosted their price target on shares of Western Midstream Partners from $41.00 to $47.00 and gave the stock a “sector perform” rating in a research report on Monday, August 24th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Western Midstream Partners presently has an average rating of “Moderate Buy” and a consensus target price of $50.22.

About Western Midstream Partners

Western Midstream Partners, L.P. (NYSE:WES) is a master limited partnership that owns and operates midstream energy infrastructure in the United States. The company provides gathering, processing, transportation, storage and treating services for natural gas, crude oil, natural gas liquids and produced water.

Western Midstream’s assets include gathering systems, processing plants, pipelines, storage facilities and water-handling infrastructure. These facilities connect oil and gas producers with downstream markets and are generally supported by long-term commercial arrangements.