Western Midstream Partners (WES) to Release Quarterly Earnings on Wednesday

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

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings data on Wednesday, February 21st. The pipeline company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.04). Western Midstream Partners had a net margin of 32.72% and a return on equity of 33.58%. The company had revenue of $858.21 million for the quarter, compared to the consensus estimate of $850.23 million. During the same quarter last year, the firm posted $0.85 earnings per share. The company’s revenue was up 10.1% compared to the same quarter last year. 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 1.4 %

WES stock opened at $35.53 on Monday. Western Midstream Partners has a 1-year low of $24.89 and a 1-year high of $36.79. 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 company has a market capitalization of $13.52 billion, a price-to-earnings ratio of 13.67 and a beta of 2.82. The business has a 50 day simple moving average of $34.85 and a two-hundred day simple moving average of $30.71.

Western Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a $0.875 dividend. This represents a $3.50 annualized dividend and a yield of 9.85%. This is an increase from Western Midstream Partners’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Tuesday, April 30th. Western Midstream Partners’s dividend payout ratio is presently 134.62%.

Insider Activity

In other news, Director Kenneth F. Owen purchased 7,000 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were purchased at an average price of $33.96 per share, for a total transaction of $237,720.00. Following the completion of the purchase, the director now owns 32,730 shares in the company, valued at approximately $1,111,510.80. The purchase was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Kenneth F. Owen purchased 7,000 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were purchased at an average price of $33.96 per share, for a total transaction of $237,720.00. Following the completion of the purchase, the director now owns 32,730 shares in the company, valued at approximately $1,111,510.80. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Lisa A. Stewart purchased 2,500 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were purchased at an average price of $34.87 per share, for a total transaction of $87,175.00. Following the purchase, the director now owns 30,730 shares of the company’s stock, valued at approximately $1,071,555.10. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wolfe Research upgraded Western Midstream Partners from an “underperform” rating to a “peer perform” rating in a research note on Thursday, April 18th. Stifel Nicolaus increased their target price on Western Midstream Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Raymond James restated a “market perform” rating on shares of Western Midstream Partners in a report on Tuesday, March 19th. Finally, Citigroup lowered Western Midstream Partners from a “buy” rating to a “neutral” rating and increased their price target for the company from $30.00 to $34.00 in a report on Thursday, February 29th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $30.64.

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.