Western Midstream Partners, LP (NYSE:WES) is reporting third quarter earnings results on Monday 9th November 2020, after market close.
The consensus estimates from Thomson Reuters are income of $ 0.50 per share.
For the full year, analysts predict revenues of $ 2818.95 million, while looking forward to income of $ 0.94 per share.
Previous Quarter Performance
Western Midstream Partners, LP outlined income for the second quarter of $ 0.60 per share, from the revenue of $ 671.75 million. The quarterly earnings 62.16 percent while revenues dropped 5.37 percent compared with the same quarter last year.
The consensus estimates are income of $ 0.50 per share from $ 713.74 million in revenue. The bottom line results beat street analysts by $ 0.1 or 20.00 percent, at the same time, top line results fell short of analysts by $ 41.99 million or 5.88 percent.
Stock Performance
On Friday, shares of Western Midstream Partners, LP has traded high as $ 8.42 and has cracked $ 7.82 on the downward trend, reaching $ 7.84 with volume of 1.34 million shares.
According to the previous trading day, closing price of $ 7.84, representing a 185.17 % increase from the 52 week low of $ 2.90 and a 62.6 % decrease over the 52 week high of $ 22.11.
The company has a market capital of $ 3.26 billion and is part of the Energy sector and Oil & Gas Midstream industry.
Recent Analyst recommendations
- On 25th September 2020, initiated by Morgan Stanley at Underweight rating, with $ 5.00 target price.
Western Midstream Partners, LP, together with its subsidiaries, engages in gathering, processing, compressing, treating, stabilizing, and transporting natural gas, condensate, natural gas liquids, and crude oil primarily in the United States. It is also involved in the gathering and disposing of produced water; and buying and selling of natural gas. The company was formerly known as Western Gas Equity Partners, LP and changed its name to Western Midstream Partners, LP in February 2019.
