Western Midstream Partners (NYSE:WES) Releases Earnings Results, Misses Expectations By $0.14 EPS

Western Midstream Partners (NYSE:WES) posted its earnings results on Wednesday. The pipeline company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.14), FiscalAI reports. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.19 billion. Western Midstream Partners had a return on equity of 31.50% and a net margin of 27.72%. The business’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.87 EPS.

Western Midstream Partners Stock Down 6.3%

WES stock opened at $39.86 on Friday. The firm has a 50-day moving average price of $46.00 and a 200-day moving average price of $44.17. Western Midstream Partners has a 12 month low of $37.75 and a 12 month high of $50.07. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 2.02. The stock has a market capitalization of $16.47 billion, a P/E ratio of 13.77, a price-to-earnings-growth ratio of 1.14 and a beta of 0.75.

Western Midstream Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Monday, November 2nd will be issued a $0.93 dividend. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $3.72 dividend on an annualized basis and a dividend yield of 9.3%. Western Midstream Partners’s dividend payout ratio is 116.98%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Stifel Nicolaus assumed coverage on Western Midstream Partners in a research note on Thursday, September 10th. They set a “buy” rating and a $55.00 target price on the stock. Mizuho upped their price target 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. Wall Street Zen cut Western Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, October 17th. Royal Bank Of Canada upped their target price on Western Midstream Partners from $41.00 to $47.00 and gave the stock a “sector perform” rating in a research note on Monday, August 24th. Finally, Zacks Research raised Western Midstream Partners from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Western Midstream Partners has an average rating of “Moderate Buy” and an average target price of $49.89.

Insider Activity

In related news, Director Frederick Forthuber purchased 5,140 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were bought at an average cost of $48.62 per share, with a total value of $249,906.80. Following the acquisition, the director owned 5,140 shares of the company’s stock, valued at $249,906.80. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.04% of the company’s stock.

Western Midstream Partners Company Profile

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.