Western Midstream Partners (NYSE:WES) Share Price Passes Above 200 Day Moving Average – Should You Sell?

Western Midstream Partners, LP (NYSE:WES) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $38.83 and traded as high as $39.81. Western Midstream Partners shares last traded at $39.8840, with a volume of 352,042 shares traded.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Royal Bank Of Canada upped their price objective on shares of Western Midstream Partners from $39.00 to $42.00 and gave the stock a “sector perform” rating in a research report on Friday, November 28th. Mizuho upped their price target on shares of Western Midstream Partners from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. Wells Fargo & Company increased their price target on shares of Western Midstream Partners from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 13th. Wall Street Zen downgraded shares of Western Midstream Partners from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Stifel Nicolaus set a $43.00 target price on Western Midstream Partners in a research note on Thursday, November 6th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $41.50.

Western Midstream Partners Stock Performance

The firm has a market capitalization of $15.97 billion, a price-to-earnings ratio of 11.58 and a beta of 0.76. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 2.08. The stock’s 50-day moving average is $38.91 and its 200-day moving average is $38.85.

Western Midstream Partners (NYSE:WES) last posted its earnings results on Tuesday, November 4th. The pipeline company reported $0.87 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.87. The firm had revenue of $952.48 million for the quarter, compared to analysts’ expectations of $965.55 million. Western Midstream Partners had a net margin of 35.18% and a return on equity of 39.37%. The company’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 earnings per share. On average, analysts predict that Western Midstream Partners, LP will post 4.02 EPS for the current fiscal year.

Western Midstream Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 31st were issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 9.3%. The ex-dividend date of this dividend was Friday, October 31st. Western Midstream Partners’s dividend payout ratio is presently 107.69%.

Institutional Trading of Western Midstream Partners

Several hedge funds and other institutional investors have recently made changes to their positions in WES. Northern Trust Corp raised its stake in Western Midstream Partners by 2,725.4% during the first quarter. Northern Trust Corp now owns 367,330 shares of the pipeline company’s stock worth $15,046,000 after buying an additional 354,329 shares during the last quarter. Quantum Financial Planning Services Inc. bought a new stake in Western Midstream Partners during the second quarter valued at $310,000. Advisors Asset Management Inc. grew its holdings in Western Midstream Partners by 17.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 157,099 shares of the pipeline company’s stock worth $6,080,000 after acquiring an additional 23,023 shares during the period. Catalyst Capital Advisors LLC raised its position in shares of Western Midstream Partners by 2.4% in the 2nd quarter. Catalyst Capital Advisors LLC now owns 472,420 shares of the pipeline company’s stock worth $18,283,000 after acquiring an additional 11,055 shares in the last quarter. Finally, Stephens Inc. AR lifted its stake in shares of Western Midstream Partners by 215.4% in the 2nd quarter. Stephens Inc. AR now owns 131,361 shares of the pipeline company’s stock valued at $5,084,000 after purchasing an additional 89,707 shares during the period. 84.82% of the stock is currently owned by institutional investors.

About Western Midstream Partners

Western Midstream Partners, LP (NYSE: WES) is a midstream energy infrastructure company that owns, operates and develops an integrated network of crude oil, natural gas and produced water gathering, processing, transportation and storage assets in the United States. The partnership’s primary offerings include pipeline transportation, fractionation services, natural gas liquids (NGL) logistics and produced water handling. Through its fee-based and commodity-based contracts, Western Midstream provides its customers with essential services that support efficient energy production and distribution.

The company’s asset portfolio spans key onshore basins, including the Delaware Basin in West Texas and southeastern New Mexico, the San Juan Basin in New Mexico and Colorado, and the Denver-Julesburg Basin in Colorado.