Western Midstream Partners LP - Unit (WES) Declares $0.56 Dividend

Western Midstream Partners LP - Unit said on July 21, 2023 that its board of directors declared a regular quarterly dividend of $0.56 per share ($2.25 annualized). Previously, the company paid $0.50 per share.

Shareholders of record as of July 31, 2023 will receive the payment on August 14, 2023.

At the current share price of $28.10 / share, the stock's dividend yield is 8.01%.

Looking back five years and taking a sample every week, the average dividend yield has been 8.76%, the lowest has been 4.84%, and the highest has been 22.21%. The standard deviation of yields is 3.02 (n=123).

The current dividend yield is 0.25 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.71. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

What is the Fund Sentiment?

There are 271 funds or institutions reporting positions in Western Midstream Partners LP - Unit. This is a decrease of 10 owner(s) or 3.56% in the last quarter. Average portfolio weight of all funds dedicated to WES is 1.26%, an increase of 3.16%. Total shares owned by institutions increased in the last three months by 2.96% to 243,431K shares. The put/call ratio of WES is 0.17, indicating a bullish outlook.

Analyst Price Forecast Suggests 16.44% Upside

As of July 6, 2023, the average one-year price target for Western Midstream Partners LP - Unit is 32.72. The forecasts range from a low of 27.27 to a high of $37.80. The average price target represents an increase of 16.44% from its latest reported closing price of 28.10.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Western Midstream Partners LP - Unit is 3,501MM, an increase of 8.48%. The projected annual non-GAAP EPS is 3.29.

What are Other Shareholders Doing?

Alps Advisors holds 29,137K shares representing 7.58% ownership of the company. In it's prior filing, the firm reported owning 25,442K shares, representing an increase of 12.68%. The firm increased its portfolio allocation in WES by 10.50% over the last quarter.

AMLP - ALERIAN MLP ETF holds 28,534K shares representing 7.42% ownership of the company. In it's prior filing, the firm reported owning 25,208K shares, representing an increase of 11.66%. The firm increased its portfolio allocation in WES by 15.23% over the last quarter.

Invesco holds 18,014K shares representing 4.68% ownership of the company. In it's prior filing, the firm reported owning 15,856K shares, representing an increase of 11.98%. The firm decreased its portfolio allocation in WES by 90.16% over the last quarter.

Blackstone Group holds 17,615K shares representing 4.58% ownership of the company. In it's prior filing, the firm reported owning 17,682K shares, representing a decrease of 0.38%. The firm increased its portfolio allocation in WES by 5.62% over the last quarter.

Tortoise Capital Advisors, L.l.c. holds 12,598K shares representing 3.28% ownership of the company. In it's prior filing, the firm reported owning 12,632K shares, representing a decrease of 0.27%. The firm decreased its portfolio allocation in WES by 1.78% over the last quarter.

Western Midstream Partners Background Information
(This description is provided by the company.)

Western Midstream Partners, LP ('WES') is a Delawaremaster limited partnership formed to acquire, own, develop, and operate midstream assets. With midstream assets located in the Rocky Mountains, North-central Pennsylvania, Texas, and New Mexico, WES is engaged in the business of gathering, compressing, treating, processing, and transporting natural gas; gathering, stabilizing, and transporting condensate, natural-gas liquids, and crude oil; and gathering and disposing of produced water for its customers. In its capacity as a natural-gas processor, WES also buys and sells natural gas, natural-gas liquids, and condensate on behalf of itself and as an agent for its customers under certain contracts.

Additional reading:

• WESTERN MIDSTREAM ANNOUNCES FIRST-QUARTER 2023 RESULTS
• Average closing Common Unit Price for the last 30 trading days of the Performance Period Average closing Common Unit Price for the 30 trading days preceding the beginning of the Performance Period Distributions paid per Common Unit over the Performan
• FOURTH AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT Dated as of April 6, 2023 WESTERN MIDSTREAM OPERATING, LP, as Borrower, WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent, PNC BANK, NATIONAL ASSOCIATION BARCLAYS BANK PLC, CITIBANK
• WESTERN MIDSTREAM OPERATING, LP, as Issuer $750,000,000 6.150% SENIOR NOTES DUE 2033 Dated as of April 4, 2023 COMPUTERSHARE TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee TABLE OF CONTENTS Page ARTICLE I. 1 Section 1.01. Establishment 1 ARTICLE II.
• UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM T-1 STATEMENT OF ELIGIBILITY UNDER THE TRUST INDENTURE ACT OF 1939 OF A CORPORATION DESIGNATED TO ACT AS TRUSTEE

This story originally appeared on Fintel.