Western Midstream Partners, LP (NYSE:WES) Declares $0.93 Quarterly Dividend

Western Midstream Partners, LP (NYSE:WES) announced a quarterly dividend on Friday, July 17th. Stockholders of record on Friday, July 31st will be paid a dividend of 0.93 per share by the pipeline company on Friday, August 14th. This represents a c) dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date is Friday, July 31st.

Western Midstream Partners has increased its dividend payment by an average of 0.2%per year over the last three years and has increased its dividend every year for the last 5 years. Western Midstream Partners has a dividend payout ratio of 103.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Western Midstream Partners to earn $3.67 per share next year, which means the company may not be able to cover its $3.72 annual dividend with an expected future payout ratio of 101.4%.

Western Midstream Partners Stock Performance

NYSE:WES opened at $47.20 on Wednesday. The company’s 50-day moving average price is $44.66 and its 200-day moving average price is $42.80. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.34. The company has a market cap of $18.59 billion, a P/E ratio of 15.42, a P/E/G ratio of 1.94 and a beta of 0.68. Western Midstream Partners has a twelve month low of $36.90 and a twelve month high of $48.63.

Western Midstream Partners (NYSE:WES) last posted its quarterly earnings results on Wednesday, May 6th. The pipeline company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. Western Midstream Partners had a net margin of 29.98% and a return on equity of 33.89%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the business posted $0.79 earnings per share. Western Midstream Partners’s quarterly revenue was up 22.5% on a year-over-year basis. On average, sell-side analysts forecast that Western Midstream Partners will post 3.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in WES. Avidian Wealth Enterprises LLC acquired a new stake in Western Midstream Partners during the second quarter worth $479,000. D.A. Davidson & CO. lifted its stake in shares of Western Midstream Partners by 2.6% in the 2nd quarter. D.A. Davidson & CO. now owns 74,339 shares of the pipeline company’s stock valued at $3,253,000 after purchasing an additional 1,890 shares during the last quarter. Catalyst Capital Advisors LLC lifted its stake in shares of Western Midstream Partners by 1.3% in the 2nd quarter. Catalyst Capital Advisors LLC now owns 406,912 shares of the pipeline company’s stock valued at $17,806,000 after purchasing an additional 5,100 shares during the last quarter. McElhenny Sheffield Capital Management LLC purchased a new position in shares of Western Midstream Partners during the 2nd quarter worth $200,000. Finally, Novem Group grew its holdings in shares of Western Midstream Partners by 1.9% during the 2nd quarter. Novem Group now owns 15,843 shares of the pipeline company’s stock worth $693,000 after purchasing an additional 300 shares during the period. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

About Western Midstream Partners

Western Midstream Partners, LP (NYSE: WES) is a midstream energy infrastructure company that owns, operates and develops an integrated network of crude oil, natural gas and produced water gathering, processing, transportation and storage assets in the United States. The partnership’s primary offerings include pipeline transportation, fractionation services, natural gas liquids (NGL) logistics and produced water handling. Through its fee-based and commodity-based contracts, Western Midstream provides its customers with essential services that support efficient energy production and distribution.

The company’s asset portfolio spans key onshore basins, including the Delaware Basin in West Texas and southeastern New Mexico, the San Juan Basin in New Mexico and Colorado, and the Denver-Julesburg Basin in Colorado.