Western Midstream Partners, LP (NYSE:WES) Receives Average Recommendation of “Buy” from Brokerages

Western Midstream Partners, LP (NYSE:WESGet Rating) has been given a consensus recommendation of “Buy” by the eight research firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $29.60.

A number of brokerages recently commented on WES. Mizuho boosted their target price on shares of Western Midstream Partners from $31.00 to $32.00 in a research note on Friday, May 13th. StockNews.com upgraded shares of Western Midstream Partners from a “buy” rating to a “strong-buy” rating in a research note on Monday. Zacks Investment Research upgraded shares of Western Midstream Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, April 26th. Morgan Stanley upped their price objective on shares of Western Midstream Partners from $29.00 to $31.00 and gave the company an “overweight” rating in a research note on Tuesday, April 26th. Finally, Credit Suisse Group upped their price objective on shares of Western Midstream Partners from $25.00 to $29.00 and gave the company an “outperform” rating in a research note on Thursday, March 10th.

Shares of WES stock traded down $0.31 during trading on Tuesday, hitting $26.02. 1,159,374 shares of the stock traded hands, compared to its average volume of 1,306,933. The firm has a market capitalization of $10.49 billion, a P/E ratio of 10.45 and a beta of 3.29. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.68 and a quick ratio of 0.68. Western Midstream Partners has a 52-week low of $17.97 and a 52-week high of $27.29. The firm’s fifty day moving average price is $25.18 and its 200-day moving average price is $23.76.

Western Midstream Partners (NYSE:WESGet Rating) last announced its earnings results on Tuesday, May 10th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.14. Western Midstream Partners had a return on equity of 33.05% and a net margin of 34.94%. The company had revenue of $758.30 million for the quarter, compared to analyst estimates of $701.95 million. During the same quarter in the previous year, the company earned $0.48 earnings per share. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. As a group, equities research analysts expect that Western Midstream Partners will post 2.81 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, May 13th. Shareholders of record on Monday, May 2nd were issued a $0.50 dividend. The ex-dividend date of this dividend was Friday, April 29th. This is a boost from Western Midstream Partners’s previous quarterly dividend of $0.33. This represents a $2.00 dividend on an annualized basis and a yield of 7.69%. Western Midstream Partners’s dividend payout ratio (DPR) is 80.32%.

Several hedge funds have recently added to or reduced their stakes in WES. JPMorgan Chase & Co. grew its position in shares of Western Midstream Partners by 54.0% in the first quarter. JPMorgan Chase & Co. now owns 5,592,191 shares of the pipeline company’s stock valued at $141,035,000 after purchasing an additional 1,961,529 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Western Midstream Partners by 32.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 7,407,281 shares of the pipeline company’s stock worth $164,960,000 after acquiring an additional 1,820,959 shares during the last quarter. Invesco Ltd. boosted its position in Western Midstream Partners by 12.3% during the fourth quarter. Invesco Ltd. now owns 15,185,839 shares of the pipeline company’s stock worth $338,188,000 after acquiring an additional 1,664,230 shares during the last quarter. RR Advisors LLC boosted its holdings in shares of Western Midstream Partners by 110.3% in the 1st quarter. RR Advisors LLC now owns 2,967,000 shares of the pipeline company’s stock valued at $74,830,000 after purchasing an additional 1,556,000 shares during the last quarter. Finally, Citigroup Inc. boosted its holdings in shares of Western Midstream Partners by 147.6% in the 1st quarter. Citigroup Inc. now owns 1,734,826 shares of the pipeline company’s stock valued at $43,752,000 after purchasing an additional 1,034,296 shares during the last quarter. Institutional investors and hedge funds own 41.25% of the company’s stock.

Western Midstream Partners Company Profile (Get Rating)

Western Midstream Partners, LP, a midstream energy company, together with its subsidiaries, acquires, owns, develops, and operates primarily in the United States. It is involved in gathering, compressing, treating, processing, and transporting natural gas; gathering, stabilizing, and transporting condensate, natural gas liquids (NGLs), and crude oil; and gathering and disposing produced water.

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Analyst Recommendations for Western Midstream Partners (NYSE:WES)

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