Shares of Western Gas Partners LP (WES) are up nearly 3% Wednesday afternoon, a day after reporting second-quarter earnings of 32 cents per share that topped the Zacks Consensus Estimate by more than 14%.
Revenues, however, fell 44.8% to $49.9 million, primarily due to slump in commodity prices.
The company said sales from gathering, processing and transportation remained largely flat at $30.8 million, while revenue from natural gas sales plunged nearly 70% to $16.4 million.
Meanwhile, the Zacks Consensus Estimate on the company’s full-year earnings has moved up 2 cents over the past month to $1.17 per share.
Moreover, next-year’s estimate is currently pegged at $1.27 per share, which has climbed 7 cents over the same period.
Volume for WES, a Zacks #3 Rank (“Hold”) stock, is about 85,000 today, compared to the average daily volume of approximately 109,000.
“WES” Free Stock Analysis: Buy? Sell? Hold?
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