Western Midstream Partners, LP (WES) To Go Ex-Dividend on February 3rd

Western Midstream Partners, LP (NYSE:WES) announced a quarterly dividend on Friday, January 24th,NASDAQ Dividends reports. Shareholders of record on Monday, February 3rd will be given a dividend of 0.875 per share by the pipeline company on Friday, February 14th. This represents a $3.50 dividend on an annualized basis and a yield of 8.26%. The ex-dividend date of this dividend is Monday, February 3rd.

Western Midstream Partners has increased its dividend by an average of 36.2% annually over the last three years. Western Midstream Partners has a dividend payout ratio of 92.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Western Midstream Partners to earn $3.48 per share next year, which means the company may not be able to cover its $3.50 annual dividend with an expected future payout ratio of 100.6%.

Western Midstream Partners Price Performance

Shares of NYSE:WES opened at $42.39 on Friday. The company’s fifty day moving average is $39.67 and its two-hundred day moving average is $39.13. The company has a market cap of $16.13 billion, a P/E ratio of 10.81, a price-to-earnings-growth ratio of 1.41 and a beta of 2.90. Western Midstream Partners has a 12-month low of $27.84 and a 12-month high of $43.33. 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 (NYSE:WES) last posted its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.74 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.09). Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. The company had revenue of $883.36 million for the quarter, compared to analyst estimates of $924.83 million. During the same quarter in the prior year, the business posted $0.70 earnings per share. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. Equities analysts expect that Western Midstream Partners will post 4.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WES. Bank of America assumed coverage on shares of Western Midstream Partners in a research note on Thursday, October 17th. They set an “underperform” rating and a $37.00 price target on the stock. Morgan Stanley downgraded shares of Western Midstream Partners from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $42.00 to $40.00 in a research report on Friday, October 25th. StockNews.com cut Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 28th. UBS Group lowered their price objective on Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $41.00 target price on shares of Western Midstream Partners in a report on Monday, December 9th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Western Midstream Partners presently has a consensus rating of “Hold” and an average price target of $37.88.

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.