Western Midstream Partners (WES) Set to Announce Quarterly Earnings on Wednesday

Western Midstream Partners (NYSE:WES) will be releasing its earnings data after the market closes on Wednesday, May 8th. Analysts expect Western Midstream Partners to post earnings of $0.85 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings data on Wednesday, February 21st. The pipeline company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.04). The business had revenue of $858.21 million during the quarter, compared to analyst estimates of $850.23 million. Western Midstream Partners had a net margin of 32.72% and a return on equity of 33.58%. The firm’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.85 EPS. On average, analysts expect Western Midstream Partners to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Western Midstream Partners Trading Up 0.3 %

Shares of Western Midstream Partners stock opened at $35.64 on Tuesday. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.76 and a quick ratio of 0.76. The stock’s 50 day simple moving average is $34.89 and its 200-day simple moving average is $30.77. The stock has a market cap of $13.56 billion, a P/E ratio of 13.71 and a beta of 2.82. Western Midstream Partners has a 1-year low of $25.04 and a 1-year high of $36.79.

Western Midstream Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a dividend of $0.875 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $3.50 dividend on an annualized basis and a yield of 9.82%. This is a positive change from Western Midstream Partners’s previous quarterly dividend of $0.58. Western Midstream Partners’s payout ratio is 134.62%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WES. Wolfe Research upgraded Western Midstream Partners from an “underperform” rating to a “peer perform” rating in a report on Thursday, April 18th. Raymond James reiterated a “market perform” rating on shares of Western Midstream Partners in a report on Tuesday, March 19th. Citigroup downgraded shares of Western Midstream Partners from a “buy” rating to a “neutral” rating and raised their price target for the stock from $30.00 to $34.00 in a report on Thursday, February 29th. Finally, Stifel Nicolaus upped their price objective on Western Midstream Partners from $35.00 to $36.00 and gave the company a “buy” rating in a report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $30.64.

Insiders Place Their Bets

In other news, Director Lisa A. Stewart acquired 2,500 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was acquired at an average cost of $34.87 per share, with a total value of $87,175.00. Following the completion of the purchase, the director now owns 30,730 shares of the company’s stock, valued at approximately $1,071,555.10. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Western Midstream Partners news, Director Kenneth F. Owen bought 7,000 shares of Western Midstream Partners stock in a transaction on Monday, February 26th. The shares were bought at an average cost of $33.96 per share, for a total transaction of $237,720.00. Following the acquisition, the director now directly owns 32,730 shares in the company, valued at $1,111,510.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lisa A. Stewart purchased 2,500 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was acquired at an average cost of $34.87 per share, with a total value of $87,175.00. Following the transaction, the director now directly owns 30,730 shares in the company, valued at $1,071,555.10. The disclosure for this purchase can be found here. 0.04% of the stock is owned by 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.