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

Western Midstream Partners (NYSE:WES) is scheduled to be announcing 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. Parties that are interested in registering for 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 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 analyst estimates of $850.23 million. During the same period in the prior year, the company posted $0.85 EPS. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. 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 Stock Up 1.4 %

WES stock opened at $35.53 on Monday. Western Midstream Partners has a twelve month low of $24.89 and a twelve month high of $36.79. The company has a market cap of $13.52 billion, a PE ratio of 13.67 and a beta of 2.82. The business’s 50-day simple moving average is $34.85 and its 200 day simple moving average is $30.71. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 2.40.

Western Midstream Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a dividend of $0.875 per share. The ex-dividend date is Tuesday, April 30th. This is an increase from Western Midstream Partners’s previous quarterly dividend of $0.58. This represents a $3.50 dividend on an annualized basis and a yield of 9.85%. Western Midstream Partners’s dividend payout ratio (DPR) is 134.62%.

Insider Buying and Selling

In other Western Midstream Partners news, Director Lisa A. Stewart acquired 2,500 shares of the company’s stock in a transaction that occurred 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 owns 30,730 shares of the company’s stock, valued at approximately $1,071,555.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Kenneth F. Owen purchased 7,000 shares of the company’s stock in a transaction on 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 purchase, the director now directly owns 32,730 shares of the company’s stock, valued at approximately $1,111,510.80. The transaction 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 company’s stock in a transaction on Wednesday, March 6th. The stock was purchased at an average cost of $34.87 per share, for a total transaction of $87,175.00. Following the purchase, the director now directly owns 30,730 shares in the company, valued at $1,071,555.10. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

Western Midstream Partners Company Profile

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.