Western Midstream Partners, LP (NYSE:WES) Announces Quarterly Dividend of $0.93

Western Midstream Partners, LP (NYSE:WES) declared a quarterly dividend on Monday, October 19th. Shareholders of record on Monday, November 2nd will be paid a dividend of $0.93 per share by the pipeline company on Friday, November 13th. This represents a $3.72 annualized dividend and a yield of 8.4%. The ex-dividend date of this dividend is Monday, November 2nd.

Western Midstream Partners has raised its dividend by an average of 0.2% annually over the last three years and has raised its dividend annually for the last 5 consecutive years. Western Midstream Partners has a dividend payout ratio of 103.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Western Midstream Partners to earn $3.95 per share next year, which means the company should continue to be able to cover its $3.72 annual dividend with an expected future payout ratio of 94.2%.

Western Midstream Partners Stock Performance

Shares of WES stock opened at $44.48 on Tuesday. The firm has a market cap of $18.38 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 1.20 and a beta of 0.74. Western Midstream Partners has a 52-week low of $36.90 and a 52-week 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’s 50 day moving average is $47.14 and its 200 day moving average is $45.13.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings results on Wednesday, August 5th. The pipeline company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.08. Western Midstream Partners had a net margin of 29.44% and a return on equity of 33.13%. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period last year, the business earned $0.87 EPS. The company’s revenue was up 30.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Western Midstream Partners will post 3.67 EPS for the current fiscal year.

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.