Western Midstream Partners, LP (NYSE:WES) Stock to Pay Quarterly Dividend of $0.93

Western Midstream Partners, LP (NYSE:WES) declared a quarterly dividend on Monday, October 19th. Stockholders of record on Monday, November 2nd will be given a dividend of $0.93 per share by the pipeline company on Friday, November 13th. This represents a $3.72 annualized dividend and a dividend yield of 8.4%. The ex-dividend date of this dividend is Monday, November 2nd.

Western Midstream Partners has increased its dividend by an average of 0.2% annually over the last three years and has increased its dividend every year for the last 5 years. Western Midstream Partners has a payout ratio of 103.0% indicating that 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 Midstream Partners to earn $3.95 per share next year, which means the company should continue to be able to cover its $3.72 annual dividend with an expected future payout ratio of 94.2%.

Western Midstream Partners Stock Down 0.4%

NYSE:WES opened at $44.42 on Tuesday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 2.02. The stock has a 50 day moving average of $47.14 and a 200-day moving average of $45.13. The firm has a market capitalization of $18.35 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 1.20 and a beta of 0.74. Western Midstream Partners has a 52 week low of $36.90 and a 52 week high of $50.07.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings results on Wednesday, August 5th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.08. Western Midstream Partners had a return on equity of 33.13% and a net margin of 29.44%. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the business posted $0.87 EPS. The business’s revenue was up 30.0% on a year-over-year basis. Analysts predict that Western Midstream Partners will post 3.67 EPS for the current year.

Wall Street Analysts Forecast Growth

WES has been the topic of several analyst reports. Morgan Stanley increased their target price on Western Midstream Partners from $51.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 18th. Stifel Nicolaus began coverage on Western Midstream Partners in a research note on Thursday, September 10th. They issued a “buy” rating and a $55.00 target price on the stock. Mizuho boosted their price target on shares of Western Midstream Partners from $48.00 to $51.00 and gave the company an “outperform” rating in a report on Tuesday, July 14th. JPMorgan Chase & Co. upped their price target on shares of Western Midstream Partners from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Finally, Citigroup upped their price target on shares of Western Midstream Partners from $42.00 to $45.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $49.89.

Western Midstream Partners Company Profile

Western Midstream Partners, L.P. (NYSE:WES) is a master limited partnership that owns and operates midstream energy infrastructure in the United States. The company provides gathering, processing, transportation, storage and treating services for natural gas, crude oil, natural gas liquids and produced water.

Western Midstream’s assets include gathering systems, processing plants, pipelines, storage facilities and water-handling infrastructure. These facilities connect oil and gas producers with downstream markets and are generally supported by long-term commercial arrangements.