Western Midstream Partners (NYSE:WES) Now Covered by Analysts at Mizuho

Equities researchers at Mizuho began coverage on shares of Western Midstream Partners (NYSE:WES) in a research report issued to clients and investors on Wednesday. The firm set an “outperform” rating and a $48.00 price target on the pipeline company’s stock. Mizuho’s target price would suggest a potential upside of 10.49% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Wall Street Zen upgraded Western Midstream Partners from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Morgan Stanley raised Western Midstream Partners from an “underweight” rating to an “equal weight” rating and set a $51.00 price target for the company in a research note on Wednesday, June 10th. JPMorgan Chase & Co. cut their price target on shares of Western Midstream Partners from $44.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, March 12th. Wells Fargo & Company boosted their price objective on shares of Western Midstream Partners from $41.00 to $43.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 13th. Finally, Citigroup upped their price objective on shares of Western Midstream Partners from $39.00 to $42.00 and gave the stock a “neutral” rating in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $45.00.

Western Midstream Partners Trading Down 0.7%

Shares of NYSE:WES traded down $0.31 on Wednesday, reaching $43.44. 56,356 shares of the company traded hands, compared to its average volume of 1,430,120. The stock has a market capitalization of $17.11 billion, a P/E ratio of 14.20, a price-to-earnings-growth ratio of 1.85 and a beta of 0.69. The business’s 50-day simple moving average is $43.22 and its 200 day simple moving average is $41.65. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.34. Western Midstream Partners has a 52 week low of $36.90 and a 52 week high of $48.01.

Western Midstream Partners (NYSE:WES) last released its earnings results on Wednesday, May 6th. The pipeline company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. Western Midstream Partners had a return on equity of 33.89% and a net margin of 29.98%.The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the company posted $0.79 EPS. Western Midstream Partners’s revenue for the quarter was up 22.5% on a year-over-year basis. As a group, equities analysts anticipate that Western Midstream Partners will post 3.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Western Midstream Partners

A number of hedge funds have recently bought and sold shares of the company. Eagle Bay Advisors LLC bought a new stake in Western Midstream Partners during the 4th quarter valued at about $27,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Western Midstream Partners during the fourth quarter valued at approximately $27,000. Rothschild Investment LLC grew its holdings in shares of Western Midstream Partners by 76.2% during the fourth quarter. Rothschild Investment LLC now owns 793 shares of the pipeline company’s stock valued at $31,000 after buying an additional 343 shares during the last quarter. Garton & Associates Financial Advisors LLC bought a new stake in shares of Western Midstream Partners during the fourth quarter valued at approximately $32,000. Finally, Global Wealth Strategies & Associates bought a new stake in shares of Western Midstream Partners during the fourth quarter valued at approximately $35,000. Institutional investors own 84.82% of the company’s stock.

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.