Western Gas Partners, LP (NYSE:WES) announced a quarterly dividend on Friday, October 13th, Wall Street Journal reports. Stockholders of record on Thursday, November 2nd will be given a dividend of 0.905 per share by the pipeline company on Monday, November 13th. This represents a $3.62 dividend on an annualized basis and a dividend yield of 6.97%. The ex-dividend date is Wednesday, November 1st. This is a positive change from Western Gas Partners,’s previous quarterly dividend of $0.89.
Western Gas Partners, has increased its dividend payment by an average of 14.4% per year over the last three years and has increased its dividend annually for the last 9 consecutive years. Western Gas Partners, has a dividend payout ratio of 234.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Western Gas Partners, to earn $2.28 per share next year, which means the company may not be able to cover its $3.56 annual dividend with an expected future payout ratio of 156.1%.
Western Gas Partners, (WES) traded down 1.16% during midday trading on Friday, hitting $51.30. The stock had a trading volume of 358,481 shares. Western Gas Partners, has a 12 month low of $48.04 and a 12 month high of $67.44. The stock has a market cap of $7.83 billion, a price-to-earnings ratio of 36.67 and a beta of 1.17. The stock has a 50 day moving average of $51.16 and a 200 day moving average of $54.43.
Western Gas Partners, (NYSE:WES) last issued its earnings results on Tuesday, July 25th. The pipeline company reported $0.49 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.04). Western Gas Partners, had a net margin of 28.81% and a return on equity of 15.80%. The company had revenue of $525.45 million during the quarter, compared to analysts’ expectations of $488.21 million. During the same period last year, the business posted $0.55 earnings per share. The company’s quarterly revenue was up 22.6% on a year-over-year basis. Analysts expect that Western Gas Partners, will post $1.52 EPS for the current fiscal year.
A number of brokerages have issued reports on WES. Stifel Nicolaus reaffirmed a “hold” rating and issued a $60.00 target price on shares of Western Gas Partners, in a report on Friday, July 14th. Scotiabank set a $61.00 target price on shares of Western Gas Partners, and gave the company a “hold” rating in a report on Tuesday, July 11th. Zacks Investment Research raised shares of Western Gas Partners, from a “hold” rating to a “strong-buy” rating and set a $61.00 target price for the company in a report on Tuesday, July 25th. BidaskClub raised shares of Western Gas Partners, from a “strong sell” rating to a “sell” rating in a report on Monday, July 24th. Finally, TheStreet raised shares of Western Gas Partners, from a “c+” rating to a “b-” rating in a report on Tuesday, July 25th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. Western Gas Partners, presently has a consensus rating of “Hold” and an average price target of $61.36.
Western Gas Partners, Company Profile
Western Gas Partners, LP is a master limited partnership (MLP) that acquires, owns, develops and operates midstream energy assets. The Company is engaged in the business of gathering, processing, compressing, treating and transporting natural gas, condensate, natural gas liquids (NGLs) and crude oil in the United States.