Western Midstream Partners, LP (NYSE:WES) Receives Average Recommendation of “Hold” from Brokerages

Shares of Western Midstream Partners, LP (NYSE:WES) have earned an average rating of “Hold” from the five analysts that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $41.00.

WES has been the subject of several recent research reports. Wells Fargo & Company boosted their target price on shares of Western Midstream Partners from $38.00 to $40.00 and gave the company an “equal weight” rating in a research note on Thursday, November 13th. Stifel Nicolaus set a $43.00 price target on shares of Western Midstream Partners in a report on Thursday, November 6th. Morgan Stanley lowered their price objective on shares of Western Midstream Partners from $41.00 to $39.00 and set an “underweight” rating for the company in a research report on Tuesday, August 26th. Royal Bank Of Canada raised their target price on shares of Western Midstream Partners from $38.00 to $39.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 26th. Finally, Mizuho lifted their target price on Western Midstream Partners from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, August 29th.

Hedge Funds Weigh In On Western Midstream Partners

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp increased its holdings in shares of Western Midstream Partners by 36.1% in the 1st quarter. Bank of New York Mellon Corp now owns 8,875 shares of the pipeline company’s stock worth $364,000 after acquiring an additional 2,356 shares during the period. Stephens Inc. AR increased its stake in shares of Western Midstream Partners by 6.3% in the first quarter. Stephens Inc. AR now owns 41,654 shares of the pipeline company’s stock valued at $1,706,000 after purchasing an additional 2,463 shares during the period. Apollon Wealth Management LLC raised its holdings in shares of Western Midstream Partners by 1.6% during the first quarter. Apollon Wealth Management LLC now owns 26,113 shares of the pipeline company’s stock valued at $1,070,000 after buying an additional 422 shares during the last quarter. Tectonic Advisors LLC boosted its position in shares of Western Midstream Partners by 2.1% during the first quarter. Tectonic Advisors LLC now owns 139,207 shares of the pipeline company’s stock worth $5,702,000 after buying an additional 2,929 shares during the period. Finally, Pavion Blue Capital LLC acquired a new position in shares of Western Midstream Partners during the first quarter worth approximately $206,000. Institutional investors and hedge funds own 84.82% of the company’s stock.

Western Midstream Partners Trading Up 0.1%

Shares of NYSE WES opened at $39.05 on Wednesday. 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 stock’s 50 day moving average price is $38.45 and its two-hundred day moving average price is $38.63. Western Midstream Partners has a 52-week low of $33.60 and a 52-week high of $43.33. The stock has a market capitalization of $15.93 billion, a P/E ratio of 12.02 and a beta of 1.14.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings results on Tuesday, November 4th. The pipeline company reported $0.87 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.87. The business had revenue of $952.48 million during the quarter, compared to the consensus estimate of $965.55 million. Western Midstream Partners had a return on equity of 37.70% and a net margin of 34.45%.The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.74 EPS. On average, analysts anticipate that Western Midstream Partners will post 4.02 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, November 14th. Investors of record on Friday, October 31st were paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 9.3%. The ex-dividend date was Friday, October 31st. Western Midstream Partners’s dividend payout ratio is presently 107.69%.

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.