Western Midstream Partners (NYSE:WES) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. began coverage on shares of Western Midstream Partners (NYSE:WES) in a report issued on Tuesday morning, Marketbeat.com reports. The firm issued a neutral rating and a $50.00 price objective on the pipeline company’s stock.

Other analysts have also issued research reports about the stock. Wells Fargo & Company boosted their price target on shares of Western Midstream Partners from $43.00 to $46.00 and gave the company an “equal weight” rating in a research note on Monday, August 10th. Citigroup raised their price objective on shares of Western Midstream Partners from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Zacks Research raised shares of Western Midstream Partners from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 13th. Mizuho lifted their price objective on shares of Western Midstream Partners from $48.00 to $51.00 and gave the company an “outperform” rating in a report on Tuesday, July 14th. Finally, Stifel Nicolaus assumed coverage on shares of Western Midstream Partners in a report on Thursday, September 10th. They set a “buy” rating and a $55.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $49.89.

Western Midstream Partners Trading Down 0.3%

NYSE WES opened at $44.44 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 2.02. Western Midstream Partners has a 52 week low of $36.90 and a 52 week high of $50.07. The business has a 50 day moving average price of $46.91 and a 200-day moving average price of $45.20. The company has a market cap of $18.36 billion, a price-to-earnings ratio of 14.02, a P/E/G ratio of 1.20 and a beta of 0.74.

Western Midstream Partners (NYSE:WES) last issued its earnings results on Wednesday, August 5th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.08. Western Midstream Partners had a return on equity of 33.13% and a net margin of 29.44%. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period last year, the business earned $0.87 EPS. Western Midstream Partners’s quarterly revenue was up 30.0% compared to the same quarter last year. As a group, equities analysts expect that Western Midstream Partners will post 3.66 earnings per share for the current fiscal year.

Western Midstream Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Monday, November 2nd will be paid a $0.93 dividend. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $3.72 annualized dividend and a dividend yield of 8.4%. Western Midstream Partners’s dividend payout ratio is 116.98%.

Insider Buying and Selling at Western Midstream Partners

In related news, Director Frederick Forthuber bought 5,140 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were bought at an average price of $48.62 per share, for a total transaction of $249,906.80. Following the completion of the acquisition, the director directly owned 5,140 shares of the company’s stock, valued at $249,906.80. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.04% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Western Midstream Partners

Several institutional investors have recently bought and sold shares of WES. Militia Capital Management LLC purchased a new position in Western Midstream Partners during the 1st quarter worth $8,244,000. Infrastructure Capital Advisors LLC raised its holdings in shares of Western Midstream Partners by 6.7% in the first quarter. Infrastructure Capital Advisors LLC now owns 1,234,879 shares of the pipeline company’s stock valued at $50,840,000 after purchasing an additional 77,202 shares during the last quarter. Berkley W R Corp raised its holdings in shares of Western Midstream Partners by 42.8% in the first quarter. Berkley W R Corp now owns 1,266,970 shares of the pipeline company’s stock valued at $52,161,000 after purchasing an additional 379,807 shares during the last quarter. Adams Asset Advisors LLC raised its holdings in shares of Western Midstream Partners by 8.9% in the third quarter. Adams Asset Advisors LLC now owns 408,023 shares of the pipeline company’s stock valued at $18,104,000 after purchasing an additional 33,200 shares during the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its position in shares of Western Midstream Partners by 8.8% during the first quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,676,900 shares of the pipeline company’s stock valued at $69,038,000 after purchasing an additional 136,000 shares in the last quarter. Institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Company Profile

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

Western Midstream’s assets include gathering systems, processing plants, pipelines, storage facilities and water-handling infrastructure. These facilities connect oil and gas producers with downstream markets and are generally supported by long-term commercial arrangements.