Western Midstream Partners, LP (NYSE:WES) to Issue Quarterly Dividend of $0.88

Western Midstream Partners, LP (NYSE:WES) declared a quarterly dividend on Thursday, April 18th, Zacks reports. Investors of record on Wednesday, May 1st will be paid a dividend of 0.875 per share by the pipeline company on Wednesday, May 15th. This represents a $3.50 annualized dividend and a yield of 9.89%. The ex-dividend date is Tuesday, April 30th. This is a positive change from Western Midstream Partners’s previous quarterly dividend of $0.58.

Western Midstream Partners has increased its dividend by an average of 17.1% per year over the last three years. Western Midstream Partners has a payout ratio of 65.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Western Midstream Partners to earn $3.52 per share next year, which means the company should continue to be able to cover its $2.30 annual dividend with an expected future payout ratio of 65.3%.

Western Midstream Partners Stock Up 2.1 %

Western Midstream Partners stock opened at $35.38 on Friday. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.76 and a current ratio of 0.76. The business’s 50-day simple moving average is $33.77 and its two-hundred day simple moving average is $30.10. The company has a market cap of $13.46 billion, a PE ratio of 13.61 and a beta of 2.83. Western Midstream Partners has a fifty-two week low of $24.89 and a fifty-two week high of $36.79.

Western Midstream Partners (NYSE:WES) last posted its quarterly earnings results on Wednesday, February 21st. The pipeline company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.04). The firm had revenue of $858.21 million for the quarter, compared to analysts’ expectations of $850.23 million. Western Midstream Partners had a net margin of 32.72% and a return on equity of 33.58%. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.85 EPS. Equities analysts anticipate that Western Midstream Partners will post 3.45 EPS for the current year.

Analyst Upgrades and Downgrades

WES has been the topic of a number of recent research reports. Citigroup downgraded Western Midstream Partners from a “buy” rating to a “neutral” rating and upped their target price for the stock from $30.00 to $34.00 in a research note on Thursday, February 29th. Stifel Nicolaus raised their price objective on shares of Western Midstream Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Wolfe Research raised shares of Western Midstream Partners from an “underperform” rating to a “peer perform” rating in a research note on Thursday. Finally, Raymond James reaffirmed a “market perform” rating on shares of Western Midstream Partners in a research note on Tuesday, March 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $30.64.

Insider Activity at Western Midstream Partners

In related news, Director Lisa A. Stewart purchased 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were purchased at an average price of $34.87 per share, with a total value of $87,175.00. Following the purchase, the director now owns 30,730 shares of the company’s stock, valued at $1,071,555.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Western Midstream Partners news, Director Kenneth F. Owen bought 7,000 shares of the stock in a transaction on Monday, February 26th. The shares were bought at an average price of $33.96 per share, with a total value of $237,720.00. Following the purchase, the director now directly owns 32,730 shares in the company, valued at approximately $1,111,510.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lisa A. Stewart bought 2,500 shares of the stock in a transaction on Wednesday, March 6th. The shares were acquired at an average cost of $34.87 per share, for a total transaction of $87,175.00. Following the purchase, the director now owns 30,730 shares in the company, valued at $1,071,555.10. The disclosure for this purchase can be found here. 0.04% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Western Midstream Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in WES. Tower Research Capital LLC TRC purchased a new position in shares of Western Midstream Partners during the 1st quarter worth $27,000. Retirement Group LLC raised its holdings in shares of Western Midstream Partners by 52.4% during the 2nd quarter. Retirement Group LLC now owns 1,105 shares of the pipeline company’s stock worth $29,000 after acquiring an additional 380 shares during the period. Money Concepts Capital Corp purchased a new position in shares of Western Midstream Partners during the 4th quarter worth $46,000. IFP Advisors Inc raised its holdings in shares of Western Midstream Partners by 57.6% during the 2nd quarter. IFP Advisors Inc now owns 3,456 shares of the pipeline company’s stock worth $92,000 after acquiring an additional 1,263 shares during the period. Finally, First Capital Advisors Group LLC. purchased a new position in shares of Western Midstream Partners during the 2nd quarter worth $110,000. Institutional investors and hedge funds own 42.94% of the company’s stock.

Western Midstream Partners Company Profile

Western Midstream Partners, LP, together with its subsidiaries, operates as a midstream energy company primarily in the United States. It is involved in gathering, compressing, treating, processing, and transporting natural gas; gathering, stabilizing, and transporting condensate, natural gas liquids (NGLs), and crude oil; and gathering and disposing produced water.