Western Midstream Partners, LP Plans Quarterly Dividend of $0.91 (NYSE:WES)

Western Midstream Partners, LP (NYSE:WES - Get Free Report) declared a quarterly dividend on Tuesday, July 22nd, RTT News reports. Stockholders of record on Friday, August 1st will be paid a dividend of 0.91 per share by the pipeline company on Thursday, August 14th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 8.96%. The ex-dividend date of this dividend is Friday, August 1st.

Western Midstream Partners has a payout ratio of 100.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Trading Up 1.6%

Shares of Western Midstream Partners stock traded up $0.63 on Thursday, reaching $40.64. The company had a trading volume of 803,796 shares, compared to its average volume of 1,153,572. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.18 and a quick ratio of 1.18. Western Midstream Partners has a 1 year low of $33.60 and a 1 year high of $43.33. The firm has a market cap of $15.50 billion, a price-to-earnings ratio of 12.13 and a beta of 1.08. The firm's 50-day moving average price is $38.77 and its two-hundred day moving average price is $39.33.

Western Midstream Partners (NYSE:WES - Get Free Report) last released its earnings results on Wednesday, May 7th. The pipeline company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.04). Western Midstream Partners had a return on equity of 38.52% and a net margin of 35.79%. The business had revenue of $917.12 million for the quarter, compared to the consensus estimate of $926.55 million. During the same quarter last year, the business posted $1.47 earnings per share. The firm's revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, research analysts predict that Western Midstream Partners will post 4.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Mizuho reduced their price objective on shares of Western Midstream Partners from $45.00 to $44.00 and set an "outperform" rating for the company in a research note on Tuesday, May 20th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $39.83.

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.