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

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 8.93%. The ex-dividend date 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. 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 0.2%

Shares of WES stock traded up $0.09 during mid-day trading on Friday, reaching $40.74. The company's stock had a trading volume of 552,497 shares, compared to its average volume of 799,251. The company's 50 day simple moving average is $38.82 and its 200-day simple moving average is $39.34. Western Midstream Partners has a 12-month low of $33.60 and a 12-month high of $43.33. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 2.08. The firm has a market capitalization of $15.54 billion, a PE ratio of 12.16 and a beta of 1.08.

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

Analyst Ratings Changes

Separately, Mizuho decreased their price target on shares of Western Midstream Partners from $45.00 to $44.00 and set an "outperform" rating for the company in a report on Tuesday, May 20th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Western Midstream Partners has an average rating of "Hold" and a consensus target price of $39.83.

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.