Western Gas Partners, LP (NYSE:WES) announced a quarterly dividend on Tuesday, January 23rd, Wall Street Journal reports. Investors of record on Thursday, February 1st will be paid a dividend of 0.92 per share by the pipeline company on Tuesday, February 13th. This represents a $3.68 dividend on an annualized basis and a yield of 6.82%. The ex-dividend date is Wednesday, January 31st. This is a positive change from Western Gas Partners’s previous quarterly dividend of $0.91.
Western Gas Partners has increased its dividend by an average of 11.4% annually over the last three years and has raised its dividend annually for the last 10 consecutive years. Western Gas Partners has a payout ratio of 251.4% 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 $2.26 per share next year, which means the company may not be able to cover its $3.62 annual dividend with an expected future payout ratio of 160.2%.
Shares of Western Gas Partners (WES) traded up $0.19 on Tuesday, reaching $53.93. The company had a trading volume of 368,099 shares, compared to its average volume of 646,471. The company has a market capitalization of $8,260.00, a P/E ratio of 40.55, a PEG ratio of 3.85 and a beta of 1.14. Western Gas Partners has a 12 month low of $42.68 and a 12 month high of $67.44. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 0.91.
A number of analysts recently issued reports on WES shares. Zacks Investment Research downgraded Western Gas Partners from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. Seaport Global Securities initiated coverage on Western Gas Partners in a research report on Tuesday, October 10th. They set a “buy” rating and a $64.00 target price for the company. Stifel Nicolaus reiterated a “hold” rating and set a $54.00 target price on shares of Western Gas Partners in a research report on Thursday, October 12th. Scotiabank reiterated a “hold” rating and set a $61.00 target price on shares of Western Gas Partners in a research report on Wednesday, October 25th. Finally, Morgan Stanley decreased their target price on Western Gas Partners from $57.00 to $52.00 and set an “equal weight” rating for the company in a research report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $57.33.
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About Western Gas Partners
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.
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