Western Midstream Partners (NYSE:WES) Posts Quarterly Earnings Results

Western Midstream Partners (NYSE:WES) announced its earnings results on Tuesday. The pipeline company reported $0.87 EPS for the quarter, hitting the consensus estimate of $0.87, Zacks reports. Western Midstream Partners had a net margin of 34.45% and a return on equity of 37.70%.

Western Midstream Partners Stock Performance

WES stock traded down $0.19 on Tuesday, reaching $37.26. 1,273,116 shares of the company were exchanged, compared to its average volume of 1,277,411. Western Midstream Partners has a 12 month low of $33.60 and a 12 month high of $43.33. The stock’s fifty day moving average price is $38.40 and its 200 day moving average price is $38.56. The firm has a market capitalization of $14.21 billion, a PE ratio of 11.47 and a beta of 1.12. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.30 and a quick ratio of 1.30.

Western Midstream Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a $3.64 dividend on an annualized basis and a yield of 9.8%. Western Midstream Partners’s payout ratio is 112.00%.

Institutional Investors Weigh In On Western Midstream Partners

Institutional investors have recently bought and sold shares of the business. Bank of America Corp DE boosted its stake in shares of Western Midstream Partners by 9.4% in the 2nd quarter. Bank of America Corp DE now owns 1,426,731 shares of the pipeline company’s stock valued at $55,215,000 after purchasing an additional 122,463 shares in the last quarter. BROOKFIELD Corp ON raised its holdings in Western Midstream Partners by 19.1% during the 2nd quarter. BROOKFIELD Corp ON now owns 904,361 shares of the pipeline company’s stock worth $34,999,000 after purchasing an additional 145,094 shares during the last quarter. Raymond James Financial Inc. raised its holdings in Western Midstream Partners by 4.7% during the 2nd quarter. Raymond James Financial Inc. now owns 533,500 shares of the pipeline company’s stock worth $20,646,000 after purchasing an additional 23,763 shares during the last quarter. Militia Capital Partners LP raised its holdings in Western Midstream Partners by 6,733.3% during the 2nd quarter. Militia Capital Partners LP now owns 205,000 shares of the pipeline company’s stock worth $7,934,000 after purchasing an additional 202,000 shares during the last quarter. Finally, HRT Financial LP increased its stake in shares of Western Midstream Partners by 84.5% in the 2nd quarter. HRT Financial LP now owns 187,568 shares of the pipeline company’s stock valued at $7,258,000 after acquiring an additional 85,893 shares during the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on WES. Citigroup began coverage on shares of Western Midstream Partners in a report on Monday, October 20th. They set a “neutral” rating and a $39.00 price target for the company. Morgan Stanley decreased their price target on shares of Western Midstream Partners from $41.00 to $39.00 and set an “underweight” rating for the company in a report on Tuesday, August 26th. Royal Bank Of Canada raised their price target on shares of Western Midstream Partners from $38.00 to $39.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 26th. Finally, Mizuho raised their price target on shares of Western Midstream Partners from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $40.00.

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.