Western Midstream Partners, LP (NYSE:WES) Increases Dividend to $0.93 Per Share

Western Midstream Partners, LP (NYSE:WES) declared a quarterly dividend on Monday, April 20th. Stockholders of record on Friday, May 1st will be given a dividend of 0.93 per share by the pipeline company on Friday, May 15th. This represents a c) dividend on an annualized basis and a dividend yield of 9.2%. 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 raised 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 payout ratio of 100.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Western Midstream Partners to earn $3.31 per share next year, which means the company may not be able to cover its $3.64 annual dividend with an expected future payout ratio of 110.0%.

Western Midstream Partners Price Performance

Shares of NYSE WES traded down $0.13 during trading hours on Tuesday, reaching $40.56. 52,210 shares of the stock traded hands, compared to its average volume of 1,390,970. The company’s 50-day simple moving average is $41.51 and its two-hundred day simple moving average is $40.16. The company has a market capitalization of $15.97 billion, a P/E ratio of 13.53 and a beta of 0.73. Western Midstream Partners has a 52-week low of $35.25 and a 52-week high of $44.74. 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 issued its quarterly earnings results on Wednesday, February 18th. The pipeline company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.44). The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.06 billion. Western Midstream Partners had a net margin of 30.52% and a return on equity of 33.14%. The firm’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.85 earnings per share. Equities research analysts forecast that Western Midstream Partners will post 3.2 EPS for the current year.

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.