Western Midstream Partners (NYSE:WES) released its earnings results on Tuesday. The pipeline company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03, MarketWatch Earnings reports. Western Midstream Partners had a net margin of 14.99% and a return on equity of 32.94%. The company had revenue of $647.50 million for the quarter, compared to analysts’ expectations of $655.07 million. During the same quarter in the previous year, the company earned $0.62 EPS. Western Midstream Partners’s revenue for the quarter was down 10.5% on a year-over-year basis.
NYSE:WES traded up $0.48 during mid-day trading on Wednesday, hitting $17.12. 19,139 shares of the stock traded hands, compared to its average volume of 1,533,547. The stock has a market capitalization of $7.13 billion, a price-to-earnings ratio of 18.09 and a beta of 3.77. Western Midstream Partners has a 52 week low of $2.90 and a 52 week high of $17.15. The firm’s 50 day moving average is $15.83 and its two-hundred day moving average is $11.88. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 2.57.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 12th. Stockholders of record on Monday, February 1st were issued a $0.311 dividend. The ex-dividend date was Friday, January 29th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 7.27%. Western Midstream Partners’s dividend payout ratio (DPR) is presently 77.99%.
A number of research firms recently weighed in on WES. Scotiabank began coverage on shares of Western Midstream Partners in a research note on Monday, February 1st. They set a “sector perform” rating on the stock. Barclays upgraded shares of Western Midstream Partners from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $16.00 to $19.00 in a research note on Tuesday, January 12th. Bank of America upgraded shares of Western Midstream Partners from an “underperform” rating to a “neutral” rating and set a $16.00 price target on the stock in a research note on Tuesday, January 26th. Royal Bank of Canada boosted their price target on shares of Western Midstream Partners from $9.00 to $12.00 in a research note on Wednesday, November 18th. Finally, Morgan Stanley boosted their price target on shares of Western Midstream Partners from $5.00 to $15.00 and gave the stock an “underweight” rating in a research note on Friday, December 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. Western Midstream Partners currently has an average rating of “Buy” and an average target price of $15.98.
Western Midstream Partners Company Profile
Western Midstream Partners, LP, together with its subsidiaries, engages in gathering, processing, compressing, treating, stabilizing, and transporting natural gas, condensate, natural gas liquids (NGLs), and crude oil primarily in the United States. It is also involved in gathering and disposing of produced water; and buying and selling of natural gas, NGLs, and condensate.
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