Western Midstream Partners (NYSE:WES) Stock Rating Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Western Midstream Partners (NYSE:WES) from a buy rating to a hold rating in a report published on Saturday morning,Wall Street Zen reports.

WES has been the topic of several other research reports. Citigroup upped their target price on shares of Western Midstream Partners from $42.00 to $45.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Truist Financial started coverage on shares of Western Midstream Partners in a research report on Thursday, September 17th. They set a “buy” rating and a $55.00 price target for the company. UBS Group boosted their price objective on shares of Western Midstream Partners from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, July 10th. Wells Fargo & Company boosted their price objective on shares of Western Midstream Partners from $43.00 to $46.00 and gave the stock an “equal weight” rating in a report on Monday, August 10th. Finally, Royal Bank Of Canada upped their price objective on Western Midstream Partners from $41.00 to $47.00 and gave the company a “sector perform” rating in a research report on Monday, August 24th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Western Midstream Partners has an average rating of “Moderate Buy” and a consensus target price of $49.89.

Western Midstream Partners Stock Performance

Shares of Western Midstream Partners stock opened at $44.60 on Friday. The stock has a market cap of $18.43 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 1.20 and a beta of 0.74. The firm’s 50-day moving average is $47.20 and its 200 day moving average is $45.08. Western Midstream Partners has a 1 year low of $36.90 and a 1 year high of $50.07. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.91 and a quick ratio of 0.91.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings data on Wednesday, August 5th. The pipeline company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.91 by $0.08. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.13 billion. Western Midstream Partners had a net margin of 29.44% and a return on equity of 33.13%. Western Midstream Partners’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.87 EPS. Sell-side analysts anticipate that Western Midstream Partners will post 3.67 EPS for the current fiscal year.

Insider Buying and Selling

In other Western Midstream Partners news, Director Frederick Forthuber acquired 5,140 shares of Western Midstream Partners stock in a transaction that occurred on Wednesday, August 12th. The stock was bought at an average cost of $48.62 per share, for a total transaction of $249,906.80. Following the acquisition, the director owned 5,140 shares of the company’s stock, valued at $249,906.80. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Western Midstream Partners

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Militia Capital Management LLC bought a new position in Western Midstream Partners in the first quarter worth approximately $8,244,000. Infrastructure Capital Advisors LLC boosted its stake in shares of Western Midstream Partners by 6.7% during the 1st quarter. Infrastructure Capital Advisors LLC now owns 1,234,879 shares of the pipeline company’s stock worth $50,840,000 after acquiring an additional 77,202 shares during the last quarter. Berkley W R Corp grew its position in shares of Western Midstream Partners by 42.8% during the 1st quarter. Berkley W R Corp now owns 1,266,970 shares of the pipeline company’s stock valued at $52,161,000 after acquiring an additional 379,807 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its position in shares of Western Midstream Partners by 8.8% during the 1st quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,676,900 shares of the pipeline company’s stock valued at $69,038,000 after acquiring an additional 136,000 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH grew its position in shares of Western Midstream Partners by 45.3% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 78,819 shares of the pipeline company’s stock valued at $3,245,000 after acquiring an additional 24,573 shares during the period. Institutional investors own 84.82% of the company’s stock.

About Western Midstream Partners

Western Midstream Partners, LP (NYSE: WES) is a publicly traded master limited partnership that owns and operates midstream energy infrastructure in the United States. The company provides services that connect oil and natural gas production with processing facilities, pipelines, storage systems and end markets.

Its operations include the gathering, processing, treating, transportation and storage of natural gas, natural gas liquids and crude oil. Western Midstream also provides gathering and disposal services for produced water, a byproduct of oil and gas production.