Western Midstream Partners (NYSE:WES) Issues Earnings Results

Western Midstream Partners (NYSE:WES) posted its quarterly earnings results on Wednesday. The pipeline company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01, Zacks reports. Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%.

Western Midstream Partners Trading Up 0.6 %

Western Midstream Partners stock traded up $0.24 during midday trading on Wednesday, reaching $40.33. The stock had a trading volume of 1,005,676 shares, compared to its average volume of 1,287,243. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.05. The firm has a market cap of $15.35 billion, a price-to-earnings ratio of 10.29, a price-to-earnings-growth ratio of 1.40 and a beta of 2.88. Western Midstream Partners has a 52-week low of $33.15 and a 52-week high of $43.33. The company has a fifty day moving average of $40.40 and a 200 day moving average of $39.18.

Western Midstream Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a dividend of $0.875 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $3.50 dividend on an annualized basis and a dividend yield of 8.68%. Western Midstream Partners’s dividend payout ratio is presently 89.29%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on WES. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $41.00 price objective on shares of Western Midstream Partners in a research note on Monday, December 9th. UBS Group reduced their price target on shares of 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, US Capital Advisors raised Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Western Midstream Partners presently has a consensus rating of “Hold” and a consensus target price of $37.88.

About Western Midstream Partners

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.