Western Midstream Partners (NYSE:WES) Posts Earnings Results, Beats Estimates By $0.62 EPS

Western Midstream Partners (NYSE:WES) released its quarterly earnings data on Wednesday. The pipeline company reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.62, Briefing.com reports. The firm had revenue of $887.73 million during the quarter, compared to analyst estimates of $868.22 million. Western Midstream Partners had a return on equity of 33.58% and a net margin of 32.72%. The business’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.52 earnings per share.

Western Midstream Partners Trading Up 1.7 %

NYSE:WES traded up $0.62 during midday trading on Thursday, hitting $36.12. The stock had a trading volume of 661,608 shares, compared to its average volume of 1,237,439. Western Midstream Partners has a one year low of $25.04 and a one year high of $36.79. The company has a market capitalization of $13.74 billion, a price-to-earnings ratio of 13.91 and a beta of 2.82. The stock has a 50-day moving average of $34.96 and a 200 day moving average of $30.86. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 2.40.

Western Midstream Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be paid a $0.875 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $3.50 annualized dividend and a yield of 9.69%. This is a boost from Western Midstream Partners’s previous quarterly dividend of $0.58. Western Midstream Partners’s dividend payout ratio is 134.62%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Citigroup downgraded Western Midstream Partners from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $30.00 to $34.00 in a research report on Thursday, February 29th. Stifel Nicolaus upped their price objective on Western Midstream Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Raymond James restated a “market perform” rating on shares of Western Midstream Partners in a research report on Tuesday, March 19th. Mizuho upped their price objective on Western Midstream Partners from $34.00 to $39.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Wolfe Research upgraded Western Midstream Partners from an “underperform” rating to a “peer perform” rating in a research report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.09.

Insider Buying and Selling

In other news, Director Lisa A. Stewart acquired 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were bought at an average price of $34.87 per share, with a total value of $87,175.00. Following the completion of the purchase, the director now directly owns 30,730 shares in the company, valued at $1,071,555.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Kenneth F. Owen purchased 7,000 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were acquired at an average cost of $33.96 per share, for a total transaction of $237,720.00. Following the acquisition, the director now owns 32,730 shares of the company’s stock, valued at approximately $1,111,510.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Lisa A. Stewart purchased 2,500 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was bought at an average price of $34.87 per share, for a total transaction of $87,175.00. Following the completion of the acquisition, the director now directly owns 30,730 shares in the company, valued at approximately $1,071,555.10. The disclosure for this purchase can be found here. 0.04% of the stock is owned by insiders.

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.