Western Midstream Partners, LP (NYSE:WES – Get Free Report) announced a quarterly dividend on Thursday, October 17th, NASDAQ reports. Stockholders of record on Friday, November 1st will be given a dividend of 0.875 per share by the pipeline company on Thursday, November 14th. This represents a $3.50 annualized dividend and a dividend yield of 9.36%. The ex-dividend date of this dividend is Friday, November 1st.
Western Midstream Partners has increased its dividend by an average of 11.2% per year over the last three years. Western Midstream Partners has a payout ratio of 94.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Western Midstream Partners to earn $3.65 per share next year, which means the company should continue to be able to cover its $3.50 annual dividend with an expected future payout ratio of 95.9%.
Western Midstream Partners Stock Down 1.6 %
NYSE WES opened at $37.39 on Wednesday. The stock’s 50-day moving average price is $38.61 and its 200-day moving average price is $38.39. The company has a market capitalization of $14.23 billion, a P/E ratio of 10.53, a price-to-earnings-growth ratio of 0.72 and a beta of 2.87. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.08. Western Midstream Partners has a 52 week low of $26.49 and a 52 week high of $42.80.
Analyst Upgrades and Downgrades
WES has been the subject of several research analyst reports. Bank of America initiated coverage on Western Midstream Partners in a research report on Thursday, October 17th. They set an “underperform” rating and a $37.00 target price for the company. StockNews.com lowered shares of Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Monday. UBS Group boosted their target price on shares of Western Midstream Partners from $38.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, September 18th. Stifel Nicolaus lifted their price target on shares of Western Midstream Partners from $39.00 to $40.00 and gave the company a “hold” rating in a report on Friday, August 9th. Finally, Royal Bank of Canada lifted their target price on Western Midstream Partners from $38.00 to $41.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $38.13.
Get Our Latest Report on Western Midstream Partners
Insider Buying and Selling
In other Western Midstream Partners news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the sale, the insider now directly owns 165,681,578 shares in the company, valued at $5,923,116,413.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.04% of the stock is currently owned by company insiders.
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.
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