Morgan Stanley Issues Pessimistic Forecast for Western Midstream Partners (NYSE:WES) Stock Price

Western Midstream Partners (NYSE:WES) had its price objective trimmed by Morgan Stanley from $41.00 to $39.00 in a report released on Tuesday morning, Marketbeat reports. The brokerage currently has an underweight rating on the pipeline company’s stock.

Separately, Mizuho lowered their price target on shares of Western Midstream Partners from $45.00 to $44.00 and set an “outperform” rating on the stock in a report on Tuesday, May 20th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $39.20.

Western Midstream Partners Price Performance

NYSE WES opened at $38.65 on Tuesday. The company has a market cap of $14.74 billion, a PE ratio of 11.89 and a beta of 1.13. Western Midstream Partners has a 52 week low of $33.60 and a 52 week high of $43.33. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 2.08. The firm’s 50-day simple moving average is $39.14 and its two-hundred day simple moving average is $38.99.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.82 by $0.05. The business had revenue of $942.32 million for the quarter, compared to the consensus estimate of $954.17 million. Western Midstream Partners had a net margin of 34.45% and a return on equity of 37.70%. The company’s revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.97 earnings per share. Research analysts predict that Western Midstream Partners will post 4.02 earnings per share for the current year.

Western Midstream Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 9.4%. The ex-dividend date of this dividend was Friday, August 1st. Western Midstream Partners’s dividend payout ratio is presently 112.00%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. State of Wyoming increased its position in shares of Western Midstream Partners by 95.4% in the second quarter. State of Wyoming now owns 5,840 shares of the pipeline company’s stock worth $226,000 after purchasing an additional 2,852 shares during the last quarter. Corient Private Wealth LLC increased its position in shares of Western Midstream Partners by 34.9% in the second quarter. Corient Private Wealth LLC now owns 24,814 shares of the pipeline company’s stock worth $960,000 after purchasing an additional 6,423 shares during the last quarter. Captrust Financial Advisors increased its position in shares of Western Midstream Partners by 1.7% in the second quarter. Captrust Financial Advisors now owns 54,278 shares of the pipeline company’s stock worth $2,101,000 after purchasing an additional 932 shares during the last quarter. BROOKFIELD Corp ON increased its position in shares of Western Midstream Partners by 19.1% in the second quarter. BROOKFIELD Corp ON now owns 904,361 shares of the pipeline company’s stock worth $34,999,000 after purchasing an additional 145,094 shares during the last quarter. Finally, Snowden Capital Advisors LLC increased its position in shares of Western Midstream Partners by 29.5% in the second quarter. Snowden Capital Advisors LLC now owns 10,965 shares of the pipeline company’s stock worth $424,000 after purchasing an additional 2,497 shares during the last quarter. 84.82% of the stock is currently owned by institutional investors.

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.