According to Zacks, “Western Gas Equity Partners, LP is formed to own, operate, acquire and develop midstream energy assets. Western Gas Equity Partners, LP is based in The Woodlands, Texas. “
A number of other research firms also recently issued reports on WES. Scotiabank started coverage on shares of Western Midstream Partners in a report on Tuesday, September 3rd. They issued a sector perform rating and a $28.00 price objective on the stock. Citigroup dropped their price objective on shares of Western Midstream Partners from $35.00 to $26.00 and set a buy rating on the stock in a report on Tuesday, October 1st. Bank of America dropped their price objective on shares of Western Midstream Partners from $35.00 to $29.00 and set a neutral rating on the stock in a report on Thursday, August 15th. UBS Group downgraded shares of Western Midstream Partners from a buy rating to a neutral rating and dropped their price objective for the stock from $40.00 to $27.00 in a report on Friday, August 2nd. Finally, ValuEngine raised shares of Western Midstream Partners from a strong sell rating to a sell rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. Western Midstream Partners currently has a consensus rating of Hold and an average price target of $32.08.
WES opened at $19.35 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.32. The company has a market cap of $8.78 billion, a price-to-earnings ratio of 7.71, a PEG ratio of 2.33 and a beta of 1.43. The company’s 50 day moving average is $23.08 and its 200 day moving average is $26.95. Western Midstream Partners has a 12-month low of $18.95 and a 12-month high of $35.75.
Western Midstream Partners (NYSE:WES) last posted its quarterly earnings data on Monday, November 4th. The pipeline company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.20). The business had revenue of $666.03 million during the quarter, compared to analysts’ expectations of $688.91 million. Western Midstream Partners had a return on equity of 15.32% and a net margin of 18.35%. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.39 EPS. As a group, analysts predict that Western Midstream Partners will post 1.43 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.62 per share. This is a boost from Western Midstream Partners’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.48 dividend on an annualized basis and a yield of 12.82%. Western Midstream Partners’s dividend payout ratio (DPR) is presently 98.80%.
In other Western Midstream Partners news, Director David J. Tudor sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $27.00, for a total transaction of $135,000.00.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Westside Investment Management Inc. bought a new stake in shares of Western Midstream Partners during the second quarter valued at approximately $27,000. B & T Capital Management DBA Alpha Capital Management bought a new stake in shares of Western Midstream Partners during the third quarter valued at approximately $30,000. Lenox Wealth Advisors LLC bought a new stake in shares of Western Midstream Partners during the third quarter valued at approximately $33,000. HM Payson & Co. bought a new stake in shares of Western Midstream Partners during the second quarter valued at approximately $34,000. Finally, Doyle Wealth Management bought a new stake in shares of Western Midstream Partners during the second quarter valued at approximately $47,000. Institutional investors own 42.36% of the company’s stock.
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, and crude oil primarily in the United States. It is also involved in the gathering and disposing of produced water; and buying and selling of natural gas.
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