Western Midstream Partners (NYSE:WES) Downgraded by LADENBURG THALM/SH SH

LADENBURG THALM/SH SH lowered shares of Western Midstream Partners (NYSE:WES) from a buy rating to a neutral rating in a research note issued to investors on Tuesday, Briefing.com Automated Import reports.

Several other analysts have also issued reports on the company. JPMorgan Chase & Co. lowered Western Midstream Partners from an overweight rating to a neutral rating and cut their target price for the stock from $40.00 to $31.00 in a research note on Tuesday. Credit Suisse Group cut their target price on Western Midstream Partners from $31.00 to $28.00 and set a neutral rating for the company in a research note on Tuesday, August 6th. Zacks Investment Research lowered Western Midstream Partners from a buy rating to a hold rating in a research note on Saturday, August 3rd. Mitsubishi UFJ Financial Group reaffirmed a neutral rating and issued a $37.00 target price (down previously from $42.00) on shares of Western Midstream Partners in a research note on Thursday, August 1st. Finally, Royal Bank of Canada cut their target price on Western Midstream Partners to $28.00 and set an outperform rating for the company in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. Western Midstream Partners presently has a consensus rating of Hold and a consensus target price of $38.21.

Shares of WES opened at $23.02 on Tuesday. The firm has a market cap of $10.43 billion, a P/E ratio of 9.17, a P/E/G ratio of 2.07 and a beta of 1.40. The stock has a 50 day simple moving average of $28.87 and a two-hundred day simple moving average of $33.18. The company has a debt-to-equity ratio of 2.15, a current ratio of 0.67 and a quick ratio of 0.67. Western Midstream Partners has a 1 year low of $22.39 and a 1 year high of $36.16.

Western Midstream Partners (NYSE:WES) last issued its earnings results on Tuesday, July 30th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.27). The firm had revenue of $685.10 million during the quarter, compared to analysts’ expectations of $709.39 million. Western Midstream Partners had a return on equity of 14.63% and a net margin of 18.98%. The firm’s quarterly revenue was up 32.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.32) EPS. On average, equities analysts anticipate that Western Midstream Partners will post 1.94 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Wednesday, July 31st were paid a dividend of $0.618 per share. This represents a $2.47 dividend on an annualized basis and a dividend yield of 10.74%. The ex-dividend date of this dividend was Tuesday, July 30th. This is a positive change from Western Midstream Partners’s previous quarterly dividend of $0.61. Western Midstream Partners’s dividend payout ratio is 98.41%.

Large investors have recently added to or reduced their stakes in the company. Westside Investment Management Inc. purchased a new stake in shares of Western Midstream Partners during the second quarter valued at approximately $27,000. Advisor Group Inc. boosted its stake in shares of Western Midstream Partners by 25.4% during the fourth quarter. Advisor Group Inc. now owns 1,234 shares of the pipeline company’s stock valued at $52,000 after purchasing an additional 250 shares during the period. Doyle Wealth Management bought a new position in shares of Western Midstream Partners during the second quarter valued at approximately $47,000. Winslow Evans & Crocker Inc. raised its holdings in shares of Western Midstream Partners by 52.6% during the first quarter. Winslow Evans & Crocker Inc. now owns 1,526 shares of the pipeline company’s stock valued at $48,000 after acquiring an additional 526 shares in the last quarter. Finally, Hall Laurie J Trustee raised its holdings in shares of Western Midstream Partners by 52.4% during the first quarter. Hall Laurie J Trustee now owns 1,753 shares of the pipeline company’s stock valued at $55,000 after acquiring an additional 603 shares in the last quarter. 40.98% of the stock is owned by hedge funds and other institutional investors.

About Western Midstream Partners

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.

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Analyst Recommendations for Western Midstream Partners (NYSE:WES)

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