Western Midstream Partners (NYSE:WES) Announces Quarterly Earnings Results

Western Midstream Partners (NYSE:WES) released its quarterly earnings data on Wednesday. The pipeline company reported $0.78 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.14), FiscalAI reports. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.19 billion. Western Midstream Partners had a net margin of 29.44% and a return on equity of 33.13%.

Western Midstream Partners Stock Performance

Shares of Western Midstream Partners stock traded down $1.35 during midday trading on Wednesday, hitting $42.52. The company had a trading volume of 2,288,182 shares, compared to its average volume of 1,231,357. The stock has a market cap of $17.57 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 1.19 and a beta of 0.75. Western Midstream Partners has a 12-month low of $37.01 and a 12-month high of $50.07. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 2.02. The company has a fifty day simple moving average of $46.29 and a 200 day simple moving average of $44.17.

Western Midstream Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Monday, November 2nd will be paid a dividend of $0.93 per share. The ex-dividend date is Monday, November 2nd. This represents a $3.72 dividend on an annualized basis and a dividend yield of 8.7%. Western Midstream Partners’s payout ratio is presently 116.98%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Mizuho upped their price objective on Western Midstream Partners from $48.00 to $51.00 and gave the company an “outperform” rating in a research report on Tuesday, July 14th. Wall Street Zen lowered shares of Western Midstream Partners from a “buy” rating to a “hold” rating in a report on Saturday, October 17th. Truist Financial assumed coverage on shares of Western Midstream Partners in a report on Thursday, September 17th. They set a “buy” rating and a $55.00 price target on the stock. Royal Bank Of Canada raised their price target on Western Midstream Partners from $41.00 to $47.00 and gave the stock a “sector perform” rating in a research note on Monday, August 24th. Finally, Stifel Nicolaus initiated coverage on Western Midstream Partners in a research report on Thursday, September 10th. They set a “buy” rating and a $55.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Western Midstream Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.89.

Insider Transactions at Western Midstream Partners

In other news, Director Frederick Forthuber acquired 5,140 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were acquired at an average cost of $48.62 per share, with a total value of $249,906.80. Following the completion of the acquisition, the director owned 5,140 shares of the company’s stock, valued at approximately $249,906.80. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.04% of the stock is owned by company insiders.

Western Midstream Partners Company Profile

Western Midstream Partners, L.P. (NYSE:WES) is a master limited partnership that owns and operates midstream energy infrastructure in the United States. The company provides gathering, processing, transportation, storage and treating services for natural gas, crude oil, natural gas liquids and produced water.

Western Midstream’s assets include gathering systems, processing plants, pipelines, storage facilities and water-handling infrastructure. These facilities connect oil and gas producers with downstream markets and are generally supported by long-term commercial arrangements.