Western Midstream Partners (WES) Set to Announce Earnings on Wednesday

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

Western Midstream Partners (NYSE:WES) last released its quarterly earnings results 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 firm had revenue of $858.21 million for the quarter, compared to the consensus estimate of $850.23 million. During the same quarter in the prior year, the firm earned $0.85 earnings per share. The company’s revenue for the quarter 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 Price Performance

Shares of NYSE:WES opened at $35.64 on Tuesday. The firm’s 50 day moving average price is $34.89 and its 200-day moving average price is $30.77. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 2.40. The stock has a market capitalization of $13.56 billion, a PE ratio of 13.71 and a beta of 2.82. Western Midstream Partners has a twelve month low of $25.04 and a twelve month high of $36.79.

Western Midstream Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a dividend of $0.875 per share. This is an increase from Western Midstream Partners’s previous quarterly dividend of $0.58. The ex-dividend date is Tuesday, April 30th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 9.82%. Western Midstream Partners’s payout ratio is presently 134.62%.

Wall Street Analyst Weigh In

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

Insider Activity at Western Midstream Partners

In related news, Director Lisa A. Stewart acquired 2,500 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was acquired at an average price of $34.87 per share, with a total value of $87,175.00. Following the acquisition, the director now directly owns 30,730 shares of the company’s stock, valued at $1,071,555.10. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Lisa A. Stewart acquired 2,500 shares of Western Midstream Partners stock in a transaction on Wednesday, March 6th. The shares were acquired at an average price of $34.87 per share, with a total value of $87,175.00. Following the purchase, the director now directly owns 30,730 shares in the company, valued at approximately $1,071,555.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kenneth F. Owen bought 7,000 shares of the stock in a transaction dated Monday, February 26th. The shares were purchased at an average price of $33.96 per share, with a total value of $237,720.00. Following the completion of the transaction, the director now directly owns 32,730 shares in the company, valued at approximately $1,111,510.80. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by corporate insiders.

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.