Western Midstream Partners, LP (NYSE:WES) Declares $0.93 Quarterly Dividend

Key Points

• Western Midstream Partners declared a quarterly dividend of $0.93 per share, payable on August 14 to shareholders of record on July 31. The dividend implies an annualized yield of about 8.0%.
• The company has increased its dividend for five straight years, though its payout ratio is high at 103.0%, suggesting earnings do not fully cover the distribution. Analysts expect next year’s payout ratio to remain above 100% based on current earnings estimates.
• Shares of WES were up 1.5% in Monday trading, and the company recently reported better-than-expected Q1 earnings and revenue. Revenue rose 22.5% year over year, and EPS came in at $0.85 versus expectations of $0.74.

Western Midstream Partners, LP (NYSE:WES - Get Free Report) declared a quarterly dividend on Monday, July 20th. Investors of record on Friday, July 31st will be paid a dividend of 0.93 per share by the pipeline company on Friday, August 14th. This represents a c) dividend on an annualized basis and a yield of 8.0%. The ex-dividend date of this dividend is Friday, July 31st.

Western Midstream Partners has raised its dividend by an average of 0.2%annually over the last three years and has raised its dividend annually for the last 5 consecutive years. Western Midstream Partners has a payout ratio of 103.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Western Midstream Partners to earn $3.65 per share next year, which means the company may not be able to cover its $3.72 annual dividend with an expected future payout ratio of 101.9%.

Western Midstream Partners Trading Up 1.5%

Western Midstream Partners stock traded up $0.69 during midday trading on Monday, reaching $46.66. 650,517 shares of the stock traded hands, compared to its average volume of 1,351,789. The firm has a market cap of $18.37 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 1.93 and a beta of 0.68. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.34. The company has a 50-day simple moving average of $44.48 and a two-hundred day simple moving average of $42.43. Western Midstream Partners has a 12-month low of $36.90 and a 12-month high of $48.01.

Western Midstream Partners (NYSE:WES - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The pipeline company reported $0.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.11. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.01 billion. Western Midstream Partners had a net margin of 29.98% and a return on equity of 33.89%. The business's revenue for the quarter was up 22.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.79 earnings per share. Research analysts expect that Western Midstream Partners will post 3.45 earnings per share for the current fiscal year.

Western Midstream Partners Company Profile

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.

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