Western Midstream Partners, LP (WES) To Go Ex-Dividend on November 1st

Western Midstream Partners, LP (NYSE:WES) announced a quarterly dividend on Thursday, October 17th, NASDAQ reports. Stockholders of record on Friday, November 1st will be given a dividend of 0.875 per share by the pipeline company on Thursday, November 14th. This represents a $3.50 annualized dividend and a dividend yield of 9.05%. The ex-dividend date of this dividend is Friday, November 1st.

Western Midstream Partners has increased its dividend payment by an average of 11.2% annually over the last three years. Western Midstream Partners has a payout ratio of 94.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Western Midstream Partners to earn $3.65 per share next year, which means the company should continue to be able to cover its $3.50 annual dividend with an expected future payout ratio of 95.9%.

Western Midstream Partners Trading Up 0.5 %

Shares of Western Midstream Partners stock opened at $38.69 on Friday. The firm has a market cap of $14.72 billion, a PE ratio of 10.90, a P/E/G ratio of 0.75 and a beta of 2.87. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.68 and a quick ratio of 1.68. Western Midstream Partners has a 1 year low of $26.49 and a 1 year high of $42.80. The stock has a fifty day moving average price of $38.58 and a 200-day moving average price of $38.25.

Western Midstream Partners (NYSE:WES) last posted its earnings results on Wednesday, August 7th. The pipeline company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. Western Midstream Partners had a return on equity of 47.19% and a net margin of 44.01%. The business had revenue of $905.63 million during the quarter, compared to analyst estimates of $904.94 million. During the same quarter in the previous year, the firm earned $0.64 EPS. The company’s quarterly revenue was up 22.7% compared to the same quarter last year. Equities research analysts anticipate that Western Midstream Partners will post 4.15 EPS for the current year.

Analyst Upgrades and Downgrades

WES has been the subject of a number of recent research reports. Royal Bank of Canada boosted their target price on Western Midstream Partners from $38.00 to $41.00 and gave the company a “sector perform” rating in a research note on Wednesday. Stifel Nicolaus lifted their price target on shares of Western Midstream Partners from $39.00 to $40.00 and gave the company a “hold” rating in a research report on Friday, August 9th. StockNews.com cut Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 12th. Bank of America began coverage on Western Midstream Partners in a research report on Thursday. They set an “underperform” rating and a $37.00 price objective for the company. Finally, UBS Group upped their price objective on Western Midstream Partners from $38.00 to $39.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $38.38.

Insider Buying and Selling at Western Midstream Partners

In other Western Midstream Partners news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Western Midstream Partners stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the completion of the sale, the insider now directly owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.04% of the stock is currently owned by company insiders.

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.