Western Midstream Partners (NYSE:WES) Earns Buy Rating from Analysts at Truist Financial

Truist Financial started coverage on shares of Western Midstream Partners (NYSE:WES) in a research report report published on Thursday morning, Marketbeat.com reports. The firm issued a buy rating and a $55.00 price target on the pipeline company’s stock.

A number of other analysts have also issued reports on the company. Wells Fargo & Company increased their target price on Western Midstream Partners from $43.00 to $46.00 and gave the company an “equal weight” rating in a report on Monday, August 10th. JPMorgan Chase & Co. lifted their price target on Western Midstream Partners from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. 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. Morgan Stanley increased their price objective on Western Midstream Partners from $51.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 18th. Finally, US Capital Advisors upgraded Western Midstream Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, May 29th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.89.

Western Midstream Partners Stock Up 0.0%

WES stock opened at $47.16 on Thursday. Western Midstream Partners has a 52-week low of $36.90 and a 52-week high of $50.07. The company’s 50 day simple moving average is $47.74 and its 200-day simple moving average is $44.55. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $19.49 billion, a P/E ratio of 14.83, a P/E/G ratio of 1.39 and a beta of 0.69.

Western Midstream Partners (NYSE:WES) last posted its quarterly earnings data on Wednesday, August 5th. The pipeline company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the business posted $0.87 EPS. The company’s revenue was up 30.0% on a year-over-year basis. As a group, equities research analysts anticipate that Western Midstream Partners will post 3.66 EPS for the current year.

Western Midstream Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were given a $0.93 dividend. The ex-dividend date was Friday, July 31st. This represents a $3.72 dividend on an annualized basis and a yield of 7.9%. Western Midstream Partners’s dividend payout ratio is presently 116.98%.

Insider Transactions at Western Midstream Partners

In related news, Director Frederick Forthuber bought 5,140 shares of the firm’s stock in a transaction on 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 purchase, the director directly owned 5,140 shares of the company’s stock, valued at approximately $249,906.80. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.04% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Western Midstream Partners

A number of hedge funds have recently modified their holdings of WES. Rothschild Investment LLC boosted its position in Western Midstream Partners by 76.2% during the fourth quarter. Rothschild Investment LLC now owns 793 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 343 shares during the last quarter. Glen Eagle Advisors LLC grew its stake in Western Midstream Partners by 843.0% in the fourth quarter. Glen Eagle Advisors LLC now owns 943 shares of the pipeline company’s stock valued at $37,000 after purchasing an additional 843 shares in the last quarter. Continuum Advisory LLC acquired a new position in Western Midstream Partners in the 2nd quarter worth about $41,000. Toth Financial Advisory Corp increased its position in Western Midstream Partners by 209.4% in the 2nd quarter. Toth Financial Advisory Corp now owns 1,835 shares of the pipeline company’s stock worth $80,000 after purchasing an additional 1,242 shares during the last quarter. Finally, Compass Financial Management LLC acquired a new position in Western Midstream Partners in the 2nd quarter worth about $132,000. 84.82% of the stock is owned by institutional investors and hedge funds.

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.