Western Midstream Partners (WES) Set to Announce Earnings on Wednesday

Western Midstream Partners (NYSE:WES) is scheduled to release its earnings data after the market closes on Wednesday, May 8th. Analysts expect Western Midstream Partners to post earnings of $0.85 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings results on Wednesday, February 21st. The pipeline company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.04). The company had revenue of $858.21 million for the quarter, compared to analysts’ expectations of $850.23 million. Western Midstream Partners had a net margin of 32.72% and a return on equity of 33.58%. The business’s revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.85 EPS. On average, analysts expect Western Midstream Partners to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Western Midstream Partners Stock Performance

Shares of NYSE WES opened at $34.08 on Wednesday. The firm’s 50-day moving average price is $34.70 and its 200-day moving average price is $30.55. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 2.40. The company has a market cap of $12.97 billion, a PE ratio of 13.11 and a beta of 2.83. Western Midstream Partners has a 52-week low of $24.89 and a 52-week high of $36.79.

Western Midstream Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a $0.875 dividend. This is an increase from Western Midstream Partners’s previous quarterly dividend of $0.58. The ex-dividend date is Tuesday, April 30th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 10.27%. Western Midstream Partners’s dividend payout ratio (DPR) is presently 88.46%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on WES shares. Stifel Nicolaus raised their price objective on shares of Western Midstream Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Raymond James reissued a “market perform” rating on shares of Western Midstream Partners in a report on Tuesday, March 19th. Citigroup cut shares of Western Midstream Partners from a “buy” rating to a “neutral” rating and raised their target price for the stock from $30.00 to $34.00 in a research note on Thursday, February 29th. Finally, Wolfe Research upgraded shares of Western Midstream Partners from an “underperform” rating to a “peer perform” rating in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $30.64.

Insider Activity

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

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.