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

Western Midstream Partners (NYSE:WES - Get Free Report) is set to announce its earnings results after the market closes on Wednesday, November 6th. Analysts expect the company to announce earnings of $0.83 per share for the quarter. Investors that wish to register for the company's conference call can do so using this link.

Western Midstream Partners (NYSE:WES - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.09. Western Midstream Partners had a return on equity of 47.19% and a net margin of 44.01%. The firm had revenue of $905.63 million during the quarter, compared to analysts' expectations of $904.94 million. During the same quarter in the previous year, the business earned $0.64 earnings per share. The company's revenue was up 22.7% on a year-over-year basis. On average, analysts expect Western Midstream Partners to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Western Midstream Partners Stock Performance

Shares of Western Midstream Partners stock traded up $0.10 during trading on Wednesday, hitting $37.49. 1,557,672 shares of the company's stock traded hands, compared to its average volume of 1,210,911. Western Midstream Partners has a 1 year low of $26.49 and a 1 year high of $42.80. The business has a 50-day simple moving average of $38.61 and a 200-day simple moving average of $38.41. The stock has a market capitalization of $14.26 billion, a P/E ratio of 10.57, a PEG ratio of 0.72 and a beta of 2.87. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.68 and a quick ratio of 1.68.

Western Midstream Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be issued a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a dividend yield of 9.34%. The ex-dividend date of this dividend is Friday, November 1st. Western Midstream Partners's payout ratio is presently 98.59%.

Insider Transactions at Western Midstream Partners

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business'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 completion of the transaction, the insider now directly owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.04% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on WES shares. Morgan Stanley downgraded shares of Western Midstream Partners from an "equal weight" rating to an "underweight" rating and lowered their price objective for the company from $42.00 to $40.00 in a research report on Friday, October 25th. Stifel Nicolaus boosted their target price on shares of Western Midstream Partners from $39.00 to $40.00 and gave the company a "hold" rating in a research note on Friday, August 9th. StockNews.com downgraded Western Midstream Partners from a "strong-buy" rating to a "buy" rating in a research note on Monday. Bank of America started coverage on Western Midstream Partners in a research report on Thursday, October 17th. They set an "underperform" rating and a $37.00 price objective for the company. Finally, UBS Group raised their target price on Western Midstream Partners from $38.00 to $39.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 18th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $38.13.

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.