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

Western Midstream Partners, LP (NYSE:WES) announced a quarterly dividend on Monday, July 20th. 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) annualized dividend and a dividend yield of 8.0%. 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 research analysts expect Western Midstream Partners to earn $3.65 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 101.9%.

Western Midstream Partners Stock Up 1.5%

Shares of NYSE WES traded up $0.69 during midday trading on Monday, hitting $46.66. 650,517 shares of the company’s stock were exchanged, compared to its average volume of 1,351,789. The firm’s fifty day simple moving average is $44.48 and its 200-day simple moving average is $42.43. The company has a market cap of $18.37 billion, a PE ratio of 15.25, a P/E/G ratio of 1.93 and a beta of 0.68. Western Midstream Partners has a twelve month low of $36.90 and a twelve month high of $48.01. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.09 and a quick ratio of 1.09.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings results on Wednesday, May 6th. The pipeline company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.01 billion. Western Midstream Partners had a return on equity of 33.89% and a net margin of 29.98%.The firm’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.79 earnings per share. Research analysts predict that Western Midstream Partners will post 3.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Alps Advisors Inc. boosted its holdings in shares of Western Midstream Partners by 0.9% in the fourth quarter. Alps Advisors Inc. now owns 35,074,357 shares of the pipeline company’s stock valued at $1,385,437,000 after acquiring an additional 299,631 shares during the period. Invesco Ltd. increased its holdings in shares of Western Midstream Partners by 0.3% in the 3rd quarter. Invesco Ltd. now owns 24,292,437 shares of the pipeline company’s stock valued at $954,450,000 after acquiring an additional 81,183 shares during the period. Goldman Sachs Group Inc. raised its position in Western Midstream Partners by 10.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 9,562,213 shares of the pipeline company’s stock valued at $377,707,000 after purchasing an additional 936,376 shares during the last quarter. Tortoise Capital Advisors L.L.C. raised its position in Western Midstream Partners by 15.8% in the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 8,539,175 shares of the pipeline company’s stock valued at $337,297,000 after purchasing an additional 1,163,991 shares during the last quarter. Finally, Morgan Stanley boosted its stake in Western Midstream Partners by 98.1% during the 4th quarter. Morgan Stanley now owns 5,446,475 shares of the pipeline company’s stock worth $215,136,000 after purchasing an additional 2,696,439 shares during the period. Institutional investors and hedge funds own 84.82% of the company’s stock.

Western Midstream Partners Company Profile

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.