Western Midstream Partners (NYSE:WES) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Western Midstream Partners (NYSE:WES) posted its quarterly earnings results on Wednesday. The pipeline company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.01, Zacks reports. Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%.

Western Midstream Partners Stock Performance

WES stock traded up $0.24 during midday trading on Wednesday, reaching $40.33. 1,005,676 shares of the company’s stock traded hands, compared to its average volume of 1,287,243. The stock’s 50-day moving average is $40.40 and its 200 day moving average is $39.18. The stock has a market cap of $15.35 billion, a P/E ratio of 10.29, a PEG ratio of 1.40 and a beta of 2.88. Western Midstream Partners has a 52-week low of $33.15 and a 52-week high of $43.33. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.05.

Western Midstream Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a dividend of $0.875 per share. The ex-dividend date was Monday, February 3rd. This represents a $3.50 annualized dividend and a yield of 8.68%. Western Midstream Partners’s dividend payout ratio (DPR) is 89.29%.

Analyst Upgrades and Downgrades

Several brokerages have commented on WES. Royal Bank of Canada reiterated a “sector perform” rating and set a $41.00 target price on shares of Western Midstream Partners in a research note on Monday, December 9th. US Capital Advisors upgraded Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Finally, UBS Group lowered their target price on shares of Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $37.88.

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.