Western Midstream Partners, LP (NYSE:WES) Increases Dividend to $0.91 Per Share

Western Midstream Partners, LP (NYSE:WES - Get Free Report) declared a quarterly dividend on Tuesday, April 22nd, Wall Street Journal reports. Shareholders of record on Friday, May 2nd will be paid a dividend of 0.91 per share by the pipeline company on Thursday, May 15th. This represents a $3.64 dividend on an annualized basis and a yield of 9.59%. The ex-dividend date is Friday, May 2nd. This is a 4.0% increase from Western Midstream Partners's previous quarterly dividend of $0.88.

Western Midstream Partners has raised its dividend by an average of 36.2% per year over the last three years. Western Midstream Partners has a payout ratio of 93.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. Analysts expect Western Midstream Partners to earn $3.47 per share next year, which means the company may not be able to cover its $3.50 annual dividend with an expected future payout ratio of 100.9%.

Western Midstream Partners Price Performance

Shares of NYSE WES traded up $1.06 during trading on Tuesday, hitting $37.96. The company had a trading volume of 1,064,260 shares, compared to its average volume of 1,247,960. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.05. Western Midstream Partners has a fifty-two week low of $33.60 and a fifty-two week high of $43.33. The firm has a market capitalization of $14.47 billion, a price-to-earnings ratio of 9.68, a price-to-earnings-growth ratio of 1.40 and a beta of 2.40. The stock has a fifty day simple moving average of $39.53 and a two-hundred day simple moving average of $39.41.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Western Midstream Partners from a "hold" rating to a "buy" rating in a report on Saturday, March 8th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $38.43.

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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