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| Snag This Bargain Energy Stock 6.7% Yielder Even Cheaper Than Director Brown DidBy Energy Stock Channel Staff, Monday, March 4, 9:59 AM ET
There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on February 28, Western Midstream Partners LP's Director, Oscar K. Brown, invested $236,217.80 into 7,000 shares of WES, for a cost per share of $33.75. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. In trading on Monday, bargain hunters could buy shares of Western Midstream Partners LP (NYSE:WES) and achieve a cost basis even cheaper than Brown, with shares changing hands as low as $33.52 per share. Western Midstream Partners LP shares are currently trading up about 2.6% on the day. The chart below shows the one year performance of WES shares, versus its 200 day moving average:
Looking at the chart above, WES's low point in its 52 week range is $23.79 per share, with $35.04 as the 52 week high point — that compares with a last trade of $34.21. By comparison, below is a table showing the prices at which WES insider buying was recorded over the last six months:
The current annualized dividend paid by Western Midstream Partners LP is $2.3/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 01/31/2024. Below is a long-term dividend history chart for WES, which can be of good help in judging whether the most recent dividend with approx. 6.7% annualized yield is likely to continue.
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