Western Midstream Partners (NYSE:WES) Issues Quarterly Earnings Results

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

Western Midstream Partners Price Performance

Shares of Western Midstream Partners stock traded up $0.24 during midday trading on Wednesday, hitting $40.33. 1,005,676 shares of the company were exchanged, compared to its average volume of 1,287,243. The firm has a 50 day simple moving average of $40.40 and a 200-day simple moving average of $39.18. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market cap of $15.35 billion, a P/E ratio of 10.29, a PEG ratio of 1.40 and a beta of 2.88. Western Midstream Partners has a 52 week low of $33.15 and a 52 week high of $43.33.

Western Midstream Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a $0.875 dividend. The ex-dividend date was Monday, February 3rd. This represents a $3.50 dividend on an annualized basis and a dividend yield of 8.68%. Western Midstream Partners’s payout ratio is presently 89.29%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on WES. US Capital Advisors upgraded Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Royal Bank of Canada reiterated a “sector perform” rating and set a $41.00 price target on shares of Western Midstream Partners in a report on Monday, December 9th. Finally, UBS Group dropped their price target on shares of Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Western Midstream Partners has an average rating of “Hold” and a consensus target price of $37.88.

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.