Western Gas Partners, LP (NYSE:WES) announced a quarterly dividend on Thursday, July 20th, Wall Street Journal reports. Shareholders of record on Monday, July 31st will be paid a dividend of 0.89 per share by the pipeline company on Friday, August 11th. This represents a $3.56 annualized dividend and a yield of 6.69%. The ex-dividend date of this dividend is Thursday, July 27th. This is an increase from Western Gas Partners,’s previous quarterly dividend of $0.88.

Western Gas Partners, has increased its dividend by an average of 14.4% annually over the last three years and has raised its dividend every year for the last 9 years. Western Gas Partners, has a dividend payout ratio of 243.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Western Gas Partners, to earn $2.80 per share next year, which means the company may not be able to cover its $3.50 annual dividend with an expected future payout ratio of 125.0%.

Shares of Western Gas Partners, (NYSE:WES) traded down 6.09% during midday trading on Thursday, reaching $53.20. The company’s stock had a trading volume of 4,823,124 shares. Western Gas Partners, has a 52-week low of $46.85 and a 52-week high of $67.44. The stock has a 50 day moving average price of $55.18 and a 200-day moving average price of $59.04. The company has a market capitalization of $7.53 billion, a price-to-earnings ratio of 37.10 and a beta of 1.20.

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Several analysts recently commented on WES shares. TheStreet raised Western Gas Partners, from a “c+” rating to a “b” rating in a research note on Wednesday, April 26th. Guggenheim started coverage on Western Gas Partners, in a research note on Monday, April 17th. They issued a “buy” rating and a $68.00 price target on the stock. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $69.00 price target on shares of Western Gas Partners, in a research note on Friday, April 7th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $60.00 price target on shares of Western Gas Partners, in a research note on Friday, July 14th. Finally, Scotiabank set a $61.00 price target on Western Gas Partners, and gave the company a “hold” rating in a research note on Tuesday, July 11th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $61.54.

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.

Dividend History for Western Gas Partners, (NYSE:WES)

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