Analysts Set Western Midstream Partners, LP (NYSE:WES) PT at $37.88

Western Midstream Partners, LP (NYSE:WES) has been assigned an average recommendation of “Reduce” from the ten analysts that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $37.88.

WES has been the subject of a number of research analyst reports. StockNews.com downgraded shares of Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. Bank of America began coverage on shares of Western Midstream Partners in a research note on Thursday, October 17th. They issued an “underperform” rating and a $37.00 price target on the stock. US Capital Advisors upgraded shares of Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. UBS Group dropped their price target on shares of Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $41.00 price target on shares of Western Midstream Partners in a research report on Monday, December 9th.

Western Midstream Partners Stock Performance

Shares of NYSE WES opened at $39.02 on Friday. The stock has a market capitalization of $14.85 billion, a P/E ratio of 9.95, a P/E/G ratio of 1.08 and a beta of 2.90. The firm’s 50-day moving average price is $38.49 and its two-hundred day moving average price is $39.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.05. Western Midstream Partners has a 52-week low of $27.49 and a 52-week high of $42.80.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.74 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.09). The firm had revenue of $883.36 million during the quarter, compared to analyst estimates of $924.83 million. Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. Western Midstream Partners’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.70 EPS. As a group, sell-side analysts forecast that Western Midstream Partners will post 4.03 earnings per share for the current year.

Western Midstream Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were issued a $0.875 dividend. The ex-dividend date was Friday, November 1st. This represents a $3.50 dividend on an annualized basis and a yield of 8.97%. Western Midstream Partners’s payout ratio is 89.29%.

Institutional Trading of Western Midstream Partners

Several hedge funds have recently modified their holdings of WES. Stifel Financial Corp raised its stake in shares of Western Midstream Partners by 42.1% during the 3rd quarter. Stifel Financial Corp now owns 108,367 shares of the pipeline company’s stock worth $4,146,000 after purchasing an additional 32,119 shares during the period. BNP Paribas Financial Markets raised its position in shares of Western Midstream Partners by 6.5% in the third quarter. BNP Paribas Financial Markets now owns 996,018 shares of the pipeline company’s stock worth $38,108,000 after buying an additional 60,603 shares in the last quarter. MAI Capital Management grew its holdings in shares of Western Midstream Partners by 293.1% during the third quarter. MAI Capital Management now owns 29,878 shares of the pipeline company’s stock worth $1,143,000 after purchasing an additional 22,277 shares in the last quarter. Citigroup Inc. increased its position in shares of Western Midstream Partners by 322.1% in the third quarter. Citigroup Inc. now owns 406,587 shares of the pipeline company’s stock worth $15,556,000 after purchasing an additional 310,260 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. increased its position in shares of Western Midstream Partners by 6,986.8% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 708,683 shares of the pipeline company’s stock valued at $27,114,000 after purchasing an additional 698,683 shares during the last quarter. Institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Company Profile

Western Midstream Partners, LP, together with its subsidiaries, operates as a midstream energy company 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.