Key Points
- SVP Christopher Dial sold 5,879 shares on Feb. 12 at an average price of $42.35 for about $248,976, trimming his stake by 3.08% to 185,011 shares valued at roughly $7.84 million.
- Western Midstream paid a quarterly dividend of $0.91 (annualized $3.64) for a ~8.4% yield, but the dividend payout ratio is 107.69%, meaning the payout exceeds reported earnings.
- Analysts hold a consensus "Hold" rating with an average target of $41.33, which is below the recent share price (~$43), reflecting mixed recent price-target revisions.
Western Midstream Partners, LP (NYSE:WES - Get Free Report) SVP Christopher Dial sold 5,879 shares of Western Midstream Partners stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $42.35, for a total transaction of $248,975.65. Following the sale, the senior vice president directly owned 185,011 shares of the company's stock, valued at $7,835,215.85. This represents a 3.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
Western Midstream Partners Stock Performance
WES stock opened at $43.46 on Friday. Western Midstream Partners, LP has a twelve month low of $33.60 and a twelve month high of $43.65. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 2.08. The company has a market cap of $17.73 billion, a P/E ratio of 12.86 and a beta of 0.77. The business's fifty day moving average is $40.43 and its 200-day moving average is $39.29.
Western Midstream Partners Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 2nd were issued a dividend of $0.91 per share. The ex-dividend date was Monday, February 2nd. This represents a $3.64 dividend on an annualized basis and a yield of 8.4%. Western Midstream Partners's dividend payout ratio (DPR) is 107.69%.
Analysts Set New Price Targets
WES has been the topic of a number of analyst reports. Wells Fargo & Company cut their price target on shares of Western Midstream Partners from $40.00 to $39.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 22nd. Wall Street Zen lowered shares of Western Midstream Partners from a "buy" rating to a "hold" rating in a report on Saturday, December 27th. Royal Bank Of Canada lifted their price target on shares of Western Midstream Partners from $39.00 to $42.00 and gave the stock a "sector perform" rating in a research report on Friday, November 28th. Stifel Nicolaus set a $43.00 price objective on shares of Western Midstream Partners in a research report on Thursday, November 6th. Finally, Citigroup started coverage on Western Midstream Partners in a report on Monday, October 20th. They set a "neutral" rating and a $39.00 target price on the stock. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $41.33.
View Our Latest Research Report on WES
Institutional Investors Weigh In On Western Midstream Partners
Institutional investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. raised its stake in shares of Western Midstream Partners by 17.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 157,099 shares of the pipeline company's stock worth $6,080,000 after purchasing an additional 23,023 shares in the last quarter. Catalyst Capital Advisors LLC increased its holdings in Western Midstream Partners by 2.4% during the second quarter. Catalyst Capital Advisors LLC now owns 472,420 shares of the pipeline company's stock worth $18,283,000 after buying an additional 11,055 shares during the last quarter. Stephens Inc. AR raised its position in Western Midstream Partners by 215.4% during the second quarter. Stephens Inc. AR now owns 131,361 shares of the pipeline company's stock worth $5,084,000 after acquiring an additional 89,707 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its stake in Western Midstream Partners by 5.6% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,270,900 shares of the pipeline company's stock valued at $49,934,000 after acquiring an additional 67,000 shares during the last quarter. Finally, Blair William & Co. IL grew its position in shares of Western Midstream Partners by 86.8% in the 2nd quarter. Blair William & Co. IL now owns 17,390 shares of the pipeline company's stock valued at $673,000 after acquiring an additional 8,079 shares during the period. 84.82% of the stock is owned by institutional investors.
About Western Midstream Partners
(
Get Free Report)
Western Midstream Partners, LP (NYSE: WES) is a midstream energy infrastructure company that owns, operates and develops an integrated network of crude oil, natural gas and produced water gathering, processing, transportation and storage assets in the United States. The partnership's primary offerings include pipeline transportation, fractionation services, natural gas liquids (NGL) logistics and produced water handling. Through its fee-based and commodity-based contracts, Western Midstream provides its customers with essential services that support efficient energy production and distribution.
The company's asset portfolio spans key onshore basins, including the Delaware Basin in West Texas and southeastern New Mexico, the San Juan Basin in New Mexico and Colorado, and the Denver-Julesburg Basin in Colorado.
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