Western Midstream Partners (NYSE:WES) Issues Earnings Results

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

Western Midstream Partners Stock Up 0.6 %

NYSE:WES traded up $0.24 during trading hours on Wednesday, hitting $40.33. 1,005,676 shares of the stock traded hands, compared to its average volume of 1,287,243. The firm has a market cap of $15.35 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 1.40 and a beta of 2.88. The firm has a 50 day moving average price of $40.40 and a 200 day moving average price of $39.18. 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 fifty-two week low of $33.15 and a fifty-two week high of $43.33.

Western Midstream Partners Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on WES shares. UBS Group lowered their target price on Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. 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. Finally, US Capital Advisors raised shares of Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Western Midstream Partners currently has a consensus rating of “Hold” and a consensus target price of $37.88.

Western Midstream Partners Company Profile

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.