Western Midstream Partners, LP (NYSE:WES) Announces Dividend Increase – $0.91 Per Share

Western Midstream Partners, LP (NYSE:WES) declared a quarterly dividend on Tuesday, April 22nd, Wall Street Journal reports. Stockholders of record on Friday, May 2nd will be given a dividend of 0.91 per share by the pipeline company on Thursday, May 15th. This represents a $3.64 annualized dividend and a dividend yield of 9.51%. The ex-dividend date is Friday, May 2nd. This is a 4.0% increase from Western Midstream Partners’s previous quarterly dividend of $0.88.

Western Midstream Partners has increased its dividend by an average of 36.2% annually over the last three years. Western Midstream Partners has a payout ratio of 97.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Western Midstream Partners to earn $3.47 per share next year, which means the company may not be able to cover its $3.64 annual dividend with an expected future payout ratio of 104.9%.

Western Midstream Partners Trading Down 1.7 %

Shares of WES stock opened at $38.28 on Wednesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.05. Western Midstream Partners has a 12-month low of $33.60 and a 12-month high of $43.33. The stock has a market capitalization of $14.60 billion, a P/E ratio of 9.77, a P/E/G ratio of 1.40 and a beta of 2.40. The firm’s 50 day moving average is $39.23 and its 200 day moving average is $39.36.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Western Midstream Partners from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $38.43.

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.