Western Midstream Partners, LP (NYSE:WES) Plans Dividend Increase – $0.50 Per Share

Western Midstream Partners, LP (NYSE:WESGet Rating) declared a quarterly dividend on Friday, April 22nd, Wall Street Journal reports. Investors of record on Monday, May 2nd will be given a dividend of 0.50 per share by the pipeline company on Friday, May 13th. This represents a $2.00 annualized dividend and a yield of 7.87%. The ex-dividend date is Friday, April 29th. This is a positive change from Western Midstream Partners’s previous quarterly dividend of $0.33.

Western Midstream Partners has a payout ratio of 45.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Western Midstream Partners to earn $2.81 per share next year, which means the company should continue to be able to cover its $1.31 annual dividend with an expected future payout ratio of 46.6%.

WES traded down $1.39 during mid-day trading on Friday, hitting $25.42. 82,937 shares of the stock were exchanged, compared to its average volume of 1,356,451. The firm’s fifty day moving average is $25.17 and its two-hundred day moving average is $23.26. Western Midstream Partners has a 1-year low of $17.97 and a 1-year high of $27.29. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 2.07. The company has a market cap of $10.26 billion, a PE ratio of 11.78 and a beta of 3.52.

Western Midstream Partners (NYSE:WESGet Rating) last issued its quarterly earnings results on Wednesday, February 23rd. The pipeline company reported $0.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.07). Western Midstream Partners had a return on equity of 30.26% and a net margin of 31.54%. The company had revenue of $719.21 million for the quarter, compared to analysts’ expectations of $741.40 million. During the same quarter last year, the company earned $0.62 EPS. Western Midstream Partners’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, research analysts anticipate that Western Midstream Partners will post 2.6 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in WES. Geode Capital Management LLC boosted its position in shares of Western Midstream Partners by 6.0% in the 3rd quarter. Geode Capital Management LLC now owns 12,586 shares of the pipeline company’s stock valued at $263,000 after purchasing an additional 717 shares during the period. LPL Financial LLC boosted its position in shares of Western Midstream Partners by 1.1% in the 4th quarter. LPL Financial LLC now owns 95,242 shares of the pipeline company’s stock valued at $2,121,000 after purchasing an additional 1,076 shares during the period. Advisors Asset Management Inc. boosted its position in shares of Western Midstream Partners by 13.6% in the 4th quarter. Advisors Asset Management Inc. now owns 147,612 shares of the pipeline company’s stock valued at $3,287,000 after purchasing an additional 17,664 shares during the period. Vident Investment Advisory LLC lifted its position in Western Midstream Partners by 9.4% during the 4th quarter. Vident Investment Advisory LLC now owns 156,502 shares of the pipeline company’s stock worth $3,485,000 after acquiring an additional 13,403 shares during the period. Finally, Wells Fargo & Company MN lifted its position in Western Midstream Partners by 39.4% during the 4th quarter. Wells Fargo & Company MN now owns 1,495,290 shares of the pipeline company’s stock worth $33,301,000 after acquiring an additional 422,993 shares during the period. 41.25% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have weighed in on the company. StockNews.com assumed coverage on Western Midstream Partners in a report on Thursday, March 31st. They set a “buy” rating on the stock. Zacks Investment Research upgraded Western Midstream Partners from a “sell” rating to a “hold” rating in a report on Wednesday. Credit Suisse Group increased their price objective on Western Midstream Partners from $25.00 to $29.00 and gave the company an “outperform” rating in a report on Thursday, March 10th. Barclays increased their price objective on Western Midstream Partners from $24.00 to $28.00 in a report on Thursday, January 20th. Finally, Mizuho increased their price objective on Western Midstream Partners from $28.00 to $31.00 and gave the company a “buy” rating in a report on Friday, March 4th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $26.88.

About Western Midstream Partners (Get Rating)

Western Midstream Partners, LP, a midstream energy company, together with its subsidiaries, acquires, owns, develops, and operates 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.

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Dividend History for Western Midstream Partners (NYSE:WES)

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