Western Midstream Partners, LP (NYSE:WES) Receives Consensus Rating of “Reduce” from Brokerages

Western Midstream Partners, LP (NYSE:WES) has been assigned a consensus rating of “Reduce” from the eight analysts that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $38.43.

A number of research firms have recently commented on WES. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $41.00 price objective on shares of Western Midstream Partners in a report on Monday, December 9th. StockNews.com upgraded shares of Western Midstream Partners from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th.

Western Midstream Partners Price Performance

Shares of NYSE:WES opened at $37.06 on Tuesday. The business’s 50 day moving average is $40.63 and its 200-day moving average is $39.59. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.05. The firm has a market capitalization of $14.13 billion, a PE ratio of 9.45, a PEG ratio of 1.40 and a beta of 2.40. Western Midstream Partners has a 1-year low of $33.64 and a 1-year high of $43.33.

Western Midstream Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a $0.875 dividend. This represents a $3.50 dividend on an annualized basis and a dividend yield of 9.45%. The ex-dividend date of this dividend was Monday, February 3rd. Western Midstream Partners’s dividend payout ratio (DPR) is currently 86.85%.

Institutional Investors Weigh In On Western Midstream Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of WES. Invesco Ltd. increased its position in Western Midstream Partners by 6.6% in the 4th quarter. Invesco Ltd. now owns 22,809,161 shares of the pipeline company’s stock valued at $876,556,000 after acquiring an additional 1,406,362 shares in the last quarter. Tortoise Capital Advisors L.L.C. grew its stake in shares of Western Midstream Partners by 2.0% during the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 8,064,089 shares of the pipeline company’s stock valued at $309,903,000 after purchasing an additional 159,016 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Western Midstream Partners by 23.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,273,186 shares of the pipeline company’s stock valued at $279,509,000 after purchasing an additional 1,366,341 shares in the last quarter. Chickasaw Capital Management LLC raised its position in Western Midstream Partners by 1.5% in the 4th quarter. Chickasaw Capital Management LLC now owns 6,755,387 shares of the pipeline company’s stock worth $259,610,000 after purchasing an additional 99,518 shares during the last quarter. Finally, Eagle Global Advisors LLC lifted its holdings in Western Midstream Partners by 23.2% during the 4th quarter. Eagle Global Advisors LLC now owns 2,434,080 shares of the pipeline company’s stock worth $93,542,000 after buying an additional 458,111 shares in the last quarter. 84.82% of the stock is owned by institutional investors and hedge funds.

About Western Midstream Partners

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.