Western Midstream Partners, LP (NYSE:WES) Increases Dividend to $0.91 Per Share

Western Midstream Partners, LP (NYSE:WES - Get Free Report) announced a quarterly dividend on Tuesday, April 22nd, Wall Street Journal reports. Investors of record on Friday, May 2nd will be given a dividend of 0.91 per share by the pipeline company on Thursday, May 15th. This represents a $3.64 annualized dividend and a yield of 9.39%. The ex-dividend date of this dividend is Friday, May 2nd. This is a 4.0% increase from Western Midstream Partners's previous quarterly dividend of $0.88.

Western Midstream Partners has raised its dividend by an average of 36.2% per year over the last three years. Western Midstream Partners has a payout ratio of 97.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. Equities research analysts expect Western Midstream Partners to earn $3.47 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 104.9%.

Western Midstream Partners Price Performance

Shares of NYSE:WES traded down $0.42 during trading on Friday, reaching $38.75. 719,857 shares of the company's stock traded hands, compared to its average volume of 1,252,882. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.05. Western Midstream Partners has a fifty-two week low of $33.60 and a fifty-two week high of $43.33. The company has a 50-day simple moving average of $39.34 and a 200-day simple moving average of $39.38. The firm has a market cap of $14.78 billion, a PE ratio of 9.89, a P/E/G ratio of 1.40 and a beta of 2.40.

Analysts Set New Price Targets

Separately, StockNews.com raised Western Midstream Partners from a "hold" rating to a "buy" rating in a research note on Saturday, March 8th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $38.43.

About Western Midstream Partners

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.