Western Gas Partners, LP (NYSE:WES) announced a quarterly dividend on Friday, October 13th, Wall Street Journal reports. Shareholders of record on Thursday, November 2nd will be paid a dividend of 0.905 per share by the pipeline company on Monday, November 13th. This represents a $3.62 dividend on an annualized basis and a yield of 6.97%. The ex-dividend date of this dividend is Wednesday, November 1st. This is a positive change from Western Gas Partners,’s previous quarterly dividend of $0.89.
Western Gas Partners, has raised its dividend by an average of 14.4% per year over the last three years and has increased its dividend annually for the last 9 consecutive years. Western Gas Partners, has a payout ratio of 234.2% meaning 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 Gas Partners, to earn $2.28 per share next year, which means the company may not be able to cover its $3.56 annual dividend with an expected future payout ratio of 156.1%.
Shares of Western Gas Partners, (WES) opened at 51.30 on Friday. The firm has a 50-day moving average price of $51.20 and a 200-day moving average price of $54.38. The stock has a market cap of $7.83 billion, a price-to-earnings ratio of 36.67 and a beta of 1.17. Western Gas Partners, has a 12 month low of $48.04 and a 12 month high of $67.44.
Western Gas Partners, (NYSE:WES) last announced its quarterly earnings results on Tuesday, July 25th. The pipeline company reported $0.49 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.04). The company had revenue of $525.45 million during the quarter, compared to analyst estimates of $488.21 million. Western Gas Partners, had a net margin of 28.81% and a return on equity of 15.80%. The firm’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.55 EPS. Equities analysts expect that Western Gas Partners, will post $1.52 EPS for the current fiscal year.
A number of brokerages have weighed in on WES. Stifel Nicolaus reiterated a “hold” rating and issued a $54.00 price target on shares of Western Gas Partners, in a report on Thursday. Seaport Global Securities began coverage on shares of Western Gas Partners, in a report on Tuesday. They issued a “buy” rating and a $64.00 price target on the stock. Zacks Investment Research lowered shares of Western Gas Partners, from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. BidaskClub lowered shares of Western Gas Partners, from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 23rd. Finally, Scotiabank set a $61.00 price target on shares of Western Gas Partners, and gave the company a “hold” rating in a report on Wednesday, August 16th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $61.36.
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About Western Gas Partners,
Western Gas Partners, LP is a master limited partnership (MLP) that acquires, owns, develops and operates midstream energy assets. The Company is engaged in the business of gathering, processing, compressing, treating and transporting natural gas, condensate, natural gas liquids (NGLs) and crude oil in the United States.
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