Western Midstream Partners, LP (NYSE:WES) Receives $39.60 Consensus PT from Analysts

Shares of Western Midstream Partners, LP (NYSE:WES) have earned an average rating of “Reduce” from the five ratings firms that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $39.60.

Several research firms have recently weighed in on WES. Royal Bank Of Canada increased their price target on Western Midstream Partners from $38.00 to $39.00 and gave the company a “sector perform” rating in a report on Tuesday, August 26th. Mizuho increased their price target on Western Midstream Partners from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, August 29th. Finally, Morgan Stanley lowered their price target on Western Midstream Partners from $41.00 to $39.00 and set an “underweight” rating on the stock in a report on Tuesday, August 26th.

Institutional Investors Weigh In On Western Midstream Partners

Hedge funds and other institutional investors have recently modified their holdings of the stock. Princeton Global Asset Management LLC increased its stake in Western Midstream Partners by 133.3% in the 1st quarter. Princeton Global Asset Management LLC now owns 700 shares of the pipeline company’s stock worth $29,000 after buying an additional 400 shares in the last quarter. Financial Network Wealth Advisors LLC increased its stake in Western Midstream Partners by 1,856.4% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 763 shares of the pipeline company’s stock worth $31,000 after buying an additional 724 shares in the last quarter. Sound Income Strategies LLC purchased a new stake in Western Midstream Partners in the 2nd quarter worth $39,000. MTM Investment Management LLC purchased a new stake in Western Midstream Partners in the 2nd quarter worth $39,000. Finally, Bessemer Group Inc. purchased a new stake in Western Midstream Partners in the 1st quarter worth $41,000. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Western Midstream Partners Stock Performance

Shares of WES opened at $39.45 on Tuesday. 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 business’s 50 day moving average price is $38.90 and its 200-day moving average price is $38.74. Western Midstream Partners has a 52 week low of $33.60 and a 52 week high of $43.33. The stock has a market cap of $15.04 billion, a P/E ratio of 12.14 and a beta of 1.17.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.87 earnings per share (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 analysts’ expectations of $954.17 million. Western Midstream Partners had a return on equity of 37.70% and a net margin of 34.45%.The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.97 EPS. Equities research analysts anticipate that Western Midstream Partners will post 4.02 earnings per share for the current fiscal year.

Western Midstream Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 9.2%. The ex-dividend date was Friday, August 1st. Western Midstream Partners’s dividend payout ratio is 112.00%.

Western Midstream Partners Company Profile

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.