Western Midstream Partners, LP (NYSE:WES) Receives $48.12 Average Price Target from Brokerages

Shares of Western Midstream Partners, LP (NYSE:WES) have earned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $49.25.

Several analysts recently weighed in on WES shares. UBS Group boosted their price objective on Western Midstream Partners from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, July 10th. Citigroup upped their price target on Western Midstream Partners from $42.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. Stifel Nicolaus began coverage on shares of Western Midstream Partners in a research note on Thursday, September 10th. They set a “buy” rating and a $55.00 target price for the company. Royal Bank Of Canada increased their target price on shares of Western Midstream Partners from $41.00 to $47.00 and gave the stock a “sector perform” rating in a report on Monday, August 24th. Finally, US Capital Advisors raised shares of Western Midstream Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, May 29th.

Insiders Place Their Bets

In other news, Director Frederick Forthuber purchased 5,140 shares of Western Midstream Partners stock in a transaction dated Wednesday, August 12th. The stock was bought at an average price of $48.62 per share, with a total value of $249,906.80. Following the completion of the acquisition, the director owned 5,140 shares in the company, valued at $249,906.80. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.04% of the stock is owned by corporate insiders.

Institutional Trading of Western Midstream Partners

Large investors have recently modified their holdings of the company. Tidal Investments LLC boosted its stake in Western Midstream Partners by 77.5% during the 2nd quarter. Tidal Investments LLC now owns 8,769 shares of the pipeline company’s stock valued at $384,000 after purchasing an additional 3,828 shares during the period. Integrated Wealth Concepts LLC grew its holdings in Western Midstream Partners by 59.9% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 9,922 shares of the pipeline company’s stock worth $434,000 after buying an additional 3,717 shares in the last quarter. NewEdge Advisors LLC increased its position in Western Midstream Partners by 8.1% in the 2nd quarter. NewEdge Advisors LLC now owns 71,977 shares of the pipeline company’s stock valued at $3,150,000 after acquiring an additional 5,393 shares during the period. HighTower Advisors LLC increased its position in Western Midstream Partners by 14.2% in the 2nd quarter. HighTower Advisors LLC now owns 98,294 shares of the pipeline company’s stock valued at $4,301,000 after acquiring an additional 12,252 shares during the period. Finally, Compass Financial Management LLC bought a new stake in Western Midstream Partners during the 2nd quarter valued at $132,000. Institutional investors and hedge funds own 84.82% of the company’s stock.

Western Midstream Partners Stock Down 2.3%

WES stock opened at $47.90 on Tuesday. Western Midstream Partners has a twelve month low of $36.90 and a twelve month high of $50.07. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 2.02. The company has a market capitalization of $19.79 billion, a P/E ratio of 15.06, a PEG ratio of 1.44 and a beta of 0.69. The firm has a 50 day simple moving average of $47.57 and a 200-day simple moving average of $44.41.

Western Midstream Partners (NYSE:WES) last posted its quarterly earnings results on Wednesday, August 5th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.08. Western Midstream Partners had a net margin of 29.44% and a return on equity of 33.13%. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the company posted $0.87 earnings per share. The firm’s quarterly revenue was up 30.0% on a year-over-year basis. On average, equities research analysts predict that Western Midstream Partners will post 3.66 earnings per share for the current fiscal year.

Western Midstream Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 7.8%. The ex-dividend date was Friday, July 31st. Western Midstream Partners’s dividend payout ratio is presently 116.98%.

Western Midstream Partners Company Profile

Western Midstream Partners, L.P. (NYSE:WES) is a publicly traded master limited partnership that owns, operates and develops midstream energy assets. The company provides gathering, processing, treating, compression, transportation and storage services for natural gas, crude oil, natural gas liquids and produced water.

Western Midstream’s infrastructure includes gathering systems, processing plants, pipelines, compressor stations, treatment facilities, storage assets and water-handling systems.