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

Key Points

• Western Midstream Partners reported quarterly EPS of $0.78, missing the $0.92 consensus estimate by $0.14; revenue of $1.19 billion matched expectations.
• Shares fell $1.35 to $42.52 during Wednesday’s trading. The company declared a quarterly dividend of $0.93 per share, equivalent to an annualized yield of 8.7%.
• Analysts’ average rating is “Moderate Buy,” with a consensus price target of $49.89.

Western Midstream Partners (NYSE:WES - Get Free Report) issued its quarterly earnings results on Wednesday. The pipeline company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.14), FiscalAI reports. Western Midstream Partners had a return on equity of 33.13% and a net margin of 29.44%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion.

Western Midstream Partners Stock Performance

Shares of NYSE:WES traded down $1.35 during midday trading on Wednesday, hitting $42.52. The company had a trading volume of 2,288,182 shares, compared to its average volume of 1,231,357. 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 company has a market cap of $17.57 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 1.19 and a beta of 0.75. Western Midstream Partners has a 12-month low of $37.01 and a 12-month high of $50.07. The company has a fifty day moving average of $46.29 and a two-hundred day moving average of $44.17.

Western Midstream Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Monday, November 2nd will be paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 8.7%. The ex-dividend date is Monday, November 2nd. Western Midstream Partners's dividend payout ratio (DPR) is currently 116.98%.

Analyst Ratings Changes

A number of analysts have recently commented on WES shares. Truist Financial began coverage on Western Midstream Partners in a research report on Thursday, September 17th. They issued a "buy" rating and a $55.00 price target on the stock. Zacks Research raised Western Midstream Partners from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 13th. Royal Bank Of Canada lifted their price objective on Western Midstream Partners from $41.00 to $47.00 and gave the company a "sector perform" rating in a research note on Monday, August 24th. JPMorgan Chase & Co. began coverage on Western Midstream Partners in a report on Tuesday, October 20th. They issued a "neutral" rating and a $50.00 target price on the stock. Finally, Morgan Stanley decreased their target price on shares of Western Midstream Partners from $55.00 to $52.00 and set an "equal weight" rating for the company in a report on Wednesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $49.89.

Insiders Place Their Bets

In related news, Director Frederick Forthuber purchased 5,140 shares of Western Midstream Partners stock in a transaction on Wednesday, August 12th. The stock was acquired at an average price of $48.62 per share, for a total transaction of $249,906.80. Following the completion of the transaction, the director directly owned 5,140 shares in the company, valued at $249,906.80. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible 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.

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