Western Midstream Partners, LP (NYSE:WES) Forecasted to Earn Q3 2022 Earnings of $0.79 Per Share

Western Midstream Partners, LP (NYSE:WESGet Rating) – Capital One Financial upped their Q3 2022 earnings per share (EPS) estimates for Western Midstream Partners in a note issued to investors on Thursday, May 12th. Capital One Financial analyst K. May now expects that the pipeline company will post earnings of $0.79 per share for the quarter, up from their prior forecast of $0.61. Capital One Financial also issued estimates for Western Midstream Partners’ Q4 2022 earnings at $0.83 EPS, FY2022 earnings at $3.11 EPS, FY2023 earnings at $3.48 EPS and FY2024 earnings at $3.86 EPS.

Several other brokerages also recently issued reports on WES. Morgan Stanley increased their price objective on shares of Western Midstream Partners from $29.00 to $31.00 and gave the company an “overweight” rating in a research report on Tuesday, April 26th. Zacks Investment Research raised shares of Western Midstream Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, April 26th. Mizuho increased their price objective on shares of Western Midstream Partners from $31.00 to $32.00 in a research report on Friday. StockNews.com assumed coverage on shares of Western Midstream Partners in a research report on Thursday, March 31st. They issued a “buy” rating for the company. Finally, Credit Suisse Group increased their price objective on shares of Western Midstream Partners from $25.00 to $29.00 and gave the company an “outperform” rating in a research report on Thursday, March 10th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $29.00.

WES opened at $25.93 on Monday. The firm has a 50 day moving average price of $24.90 and a 200 day moving average price of $23.53. The company has a market cap of $10.46 billion, a PE ratio of 10.41 and a beta of 3.29. Western Midstream Partners has a 1 year low of $17.97 and a 1 year high of $27.29. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.60 and a current ratio of 0.68.

Western Midstream Partners (NYSE:WESGet Rating) last posted its earnings results on Tuesday, May 10th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.14. The firm had revenue of $758.30 million during the quarter, compared to the consensus estimate of $701.95 million. Western Midstream Partners had a net margin of 34.94% and a return on equity of 33.05%. The company’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.48 EPS.

The business also recently declared a quarterly dividend, which was paid on Friday, May 13th. Stockholders of record on Monday, May 2nd were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, April 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.71%. This is an increase from Western Midstream Partners’s previous quarterly dividend of $0.33. Western Midstream Partners’s dividend payout ratio (DPR) is presently 80.32%.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Blair William & Co. IL lifted its stake in Western Midstream Partners by 5.2% during the first quarter. Blair William & Co. IL now owns 9,492 shares of the pipeline company’s stock worth $239,000 after purchasing an additional 470 shares during the last quarter. Advisor Group Holdings Inc. lifted its stake in Western Midstream Partners by 6.4% during the first quarter. Advisor Group Holdings Inc. now owns 11,853 shares of the pipeline company’s stock worth $234,000 after purchasing an additional 710 shares during the last quarter. Geode Capital Management LLC lifted its stake in Western Midstream Partners by 6.0% during the third quarter. Geode Capital Management LLC now owns 12,586 shares of the pipeline company’s stock worth $263,000 after purchasing an additional 717 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Western Midstream Partners by 4.4% during the fourth quarter. CIBC Asset Management Inc now owns 17,090 shares of the pipeline company’s stock worth $381,000 after purchasing an additional 720 shares during the last quarter. Finally, HighTower Trust Services LTA lifted its stake in Western Midstream Partners by 7.5% in the first quarter. HighTower Trust Services LTA now owns 12,297 shares of the pipeline company’s stock valued at $310,000 after buying an additional 861 shares during the last quarter. Hedge funds and other institutional investors own 41.25% of the company’s stock.

Western Midstream Partners Company Profile (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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Earnings History and Estimates for Western Midstream Partners (NYSE:WES)

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