Fintel reports that on October 5, 2023, UBS maintained coverage of Western Midstream Partners LP - Unit (NYSE:WES) with a Neutral recommendation.
Analyst Price Forecast Suggests 15.89% Upside
As of October 5, 2023, the average one-year price target for Western Midstream Partners LP - Unit is 31.07. The forecasts range from a low of 24.24 to a high of $36.75. The average price target represents an increase of 15.89% from its latest reported closing price of 26.81.
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The projected annual revenue for Western Midstream Partners LP - Unit is 3,501MM, an increase of 13.33%. The projected annual non-GAAP EPS is 3.29.
Western Midstream Partners LP - Unit Declares $0.56 Dividend
On July 21, 2023 the company declared a regular quarterly dividend of $0.56 per share ($2.25 annualized). Shareholders of record as of July 31, 2023 received the payment on August 14, 2023. Previously, the company paid $0.50 per share.
At the current share price of $26.81 / share, the stock's dividend yield is 8.39%.
Looking back five years and taking a sample every week, the average dividend yield has been 8.55%, the lowest has been 4.84%, and the highest has been 22.21%. The standard deviation of yields is 2.96 (n=123).
The current dividend yield is 0.05 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.83. 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 264 funds or institutions reporting positions in Western Midstream Partners LP - Unit. This is a decrease of 14 owner(s) or 5.04% in the last quarter. Average portfolio weight of all funds dedicated to WES is 1.28%, an increase of 3.40%. Total shares owned by institutions decreased in the last three months by 0.02% to 244,282K shares. 
The put/call ratio of WES is 0.16, indicating a bullish outlook.
What are Other Shareholders Doing?
Alps Advisors holds 29,664K shares representing 7.82% ownership of the company. In it's prior filing, the firm reported owning 29,137K shares, representing an increase of 1.78%. The firm increased its portfolio allocation in WES by 1.49% over the last quarter.
AMLP - ALERIAN MLP ETF holds 28,534K shares representing 7.52% 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 18,226K shares representing 4.80% ownership of the company. In it's prior filing, the firm reported owning 18,014K shares, representing an increase of 1.16%. The firm increased its portfolio allocation in WES by 933.04% over the last quarter.
Blackstone Group holds 17,531K shares representing 4.62% ownership of the company. In it's prior filing, the firm reported owning 17,615K shares, representing a decrease of 0.48%. The firm increased its portfolio allocation in WES by 43.33% over the last quarter.
Tortoise Capital Advisors, L.l.c. holds 12,204K shares representing 3.22% ownership of the company. In it's prior filing, the firm reported owning 12,598K shares, representing a decrease of 3.23%. The firm decreased its portfolio allocation in WES by 1.00% 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.
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