FY2024 EPS Estimates for WES Decreased by Analyst

Western Midstream Partners, LP (NYSE:WES) – Equities research analysts at US Capital Advisors cut their FY2024 earnings per share estimates for shares of Western Midstream Partners in a research report issued to clients and investors on Monday, February 3rd. US Capital Advisors analyst J. Carreker now anticipates that the pipeline company will post earnings of $4.04 per share for the year, down from their previous forecast of $4.05. US Capital Advisors has a “Moderate Buy” rating on the stock. The consensus estimate for Western Midstream Partners’ current full-year earnings is $4.02 per share. US Capital Advisors also issued estimates for Western Midstream Partners’ Q4 2024 earnings at $0.86 EPS, Q2 2025 earnings at $0.84 EPS, Q3 2025 earnings at $0.86 EPS, Q4 2025 earnings at $0.94 EPS, FY2025 earnings at $3.51 EPS and FY2026 earnings at $3.79 EPS.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.09). The firm had revenue of $883.36 million during the quarter, compared to analysts’ expectations of $924.83 million. Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.70 earnings per share.

Other analysts have also recently issued reports about the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $41.00 target price on shares of Western Midstream Partners in a research report on Monday, December 9th. Bank of America started coverage on Western Midstream Partners in a report on Thursday, October 17th. They issued an “underperform” rating and a $37.00 price objective for the company. StockNews.com cut shares of Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. Morgan Stanley cut shares of Western Midstream Partners from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $42.00 to $40.00 in a research note on Friday, October 25th. Finally, UBS Group reduced their target price on shares of Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating for the company in a report on Friday, November 15th. 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.com, Western Midstream Partners presently has an average rating of “Hold” and an average price target of $37.88.

Western Midstream Partners Stock Performance

NYSE:WES opened at $41.20 on Wednesday. The firm has a market capitalization of $15.68 billion, a PE ratio of 10.51, a price-to-earnings-growth ratio of 1.38 and a beta of 2.88. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.11 and a quick ratio of 1.11. The business’s fifty day moving average price is $40.15 and its 200 day moving average price is $39.12. Western Midstream Partners has a 12 month low of $27.84 and a 12 month high of $43.33.

Institutional Investors Weigh In On Western Midstream Partners

Institutional investors and hedge funds have recently modified their holdings of the stock. Global Retirement Partners LLC acquired a new position in Western Midstream Partners during the 4th quarter worth approximately $51,000. Empowered Funds LLC purchased a new position in shares of Western Midstream Partners in the fourth quarter valued at $53,000. Farther Finance Advisors LLC increased its stake in Western Midstream Partners by 287.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,437 shares of the pipeline company’s stock worth $55,000 after buying an additional 1,066 shares during the period. Kieckhefer Group LLC acquired a new position in Western Midstream Partners in the 4th quarter worth $58,000. Finally, Avondale Wealth Management purchased a new position in Western Midstream Partners in the 4th quarter valued at about $77,000. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be given a $0.875 dividend. This represents a $3.50 annualized dividend and a yield of 8.50%. The ex-dividend date of this dividend is Monday, February 3rd. Western Midstream Partners’s dividend payout ratio (DPR) is presently 89.29%.

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.