FY2023 Earnings Estimate for Western Midstream Partners, LP (NYSE:WES) Issued By Capital One Financial

Western Midstream Partners, LP (NYSE:WES) – Analysts at Capital One Financial increased their FY2023 EPS estimates for Western Midstream Partners in a note issued to investors on Friday, November 3rd. Capital One Financial analyst W. Suki now anticipates that the pipeline company will post earnings per share of $2.67 for the year, up from their prior estimate of $2.50. The consensus estimate for Western Midstream Partners’ current full-year earnings is $2.53 per share. Capital One Financial also issued estimates for Western Midstream Partners’ Q4 2023 earnings at $0.81 EPS and FY2024 earnings at $3.60 EPS.

Other equities analysts also recently issued research reports about the stock. Wells Fargo & Company downgraded shares of Western Midstream Partners from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $31.00 to $30.00 in a report on Thursday, August 10th. US Capital Advisors cut shares of Western Midstream Partners from an “overweight” rating to a “hold” rating in a research note on Thursday, August 17th. UBS Group lifted their price objective on shares of Western Midstream Partners from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, October 5th. StockNews.com initiated coverage on shares of Western Midstream Partners in a research note on Thursday, October 5th. They set a “buy” rating on the stock. Finally, Citigroup cut their price objective on shares of Western Midstream Partners from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, August 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Western Midstream Partners presently has an average rating of “Moderate Buy” and an average target price of $30.60.

Western Midstream Partners Stock Performance

Shares of WES opened at $28.72 on Monday. Western Midstream Partners has a 1 year low of $23.79 and a 1 year high of $29.04. The company has a market cap of $11.05 billion, a price-to-earnings ratio of 10.60 and a beta of 2.77. The company has a debt-to-equity ratio of 2.26, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a fifty day moving average of $26.98 and a 200-day moving average of $26.83.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings data on Wednesday, November 1st. The pipeline company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.06. The firm had revenue of $776.01 million during the quarter, compared to the consensus estimate of $798.38 million. Western Midstream Partners had a net margin of 35.15% and a return on equity of 34.59%. The firm’s revenue was down 7.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.66 earnings per share.

Hedge Funds Weigh In On Western Midstream Partners

Institutional investors have recently bought and sold shares of the stock. Advisor Group Holdings Inc. increased its holdings in shares of Western Midstream Partners by 6.4% in the 1st quarter. Advisor Group Holdings Inc. now owns 11,853 shares of the pipeline company’s stock valued at $234,000 after purchasing an additional 710 shares during the period. Raymond James & Associates increased its holdings in shares of Western Midstream Partners by 30.3% in the 1st quarter. Raymond James & Associates now owns 67,177 shares of the pipeline company’s stock valued at $1,694,000 after purchasing an additional 15,616 shares during the period. BlackRock Inc. increased its holdings in shares of Western Midstream Partners by 10.7% in the 1st quarter. BlackRock Inc. now owns 261,945 shares of the pipeline company’s stock valued at $6,606,000 after purchasing an additional 25,249 shares during the period. Blair William & Co. IL increased its holdings in shares of Western Midstream Partners by 5.2% in the 1st quarter. Blair William & Co. IL now owns 9,492 shares of the pipeline company’s stock valued at $239,000 after purchasing an additional 470 shares during the period. Finally, First Trust Advisors LP increased its holdings in shares of Western Midstream Partners by 14.0% in the 1st quarter. First Trust Advisors LP now owns 1,108,739 shares of the pipeline company’s stock valued at $27,962,000 after purchasing an additional 136,334 shares during the period. Hedge funds and other institutional investors own 42.02% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Petroleum Corp /De/ Occidental sold 5,100,000 shares of Western Midstream Partners stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $25.00, for a total value of $127,500,000.00. Following the transaction, the insider now owns 185,181,578 shares of the company’s stock, valued at approximately $4,629,539,450. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.04% of the stock is owned by company insiders.

Western Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Wednesday, November 1st will be given a $0.575 dividend. The ex-dividend date is Tuesday, October 31st. This is a boost from Western Midstream Partners’s previous quarterly dividend of $0.56. This represents a $2.30 annualized dividend and a yield of 8.01%. Western Midstream Partners’s payout ratio is 84.87%.

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.