UBS Group Cuts Western Midstream Partners (NYSE:WES) Price Target to $37.00

Western Midstream Partners (NYSE:WES) had its price objective cut by UBS Group from $40.00 to $37.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a neutral rating on the pipeline company’s stock.

Several other equities research analysts also recently weighed in on the company. Morgan Stanley downgraded Western Midstream Partners from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $42.00 to $40.00 in a report on Friday, October 25th. Royal Bank of Canada boosted their target price on shares of Western Midstream Partners from $38.00 to $41.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. StockNews.com cut shares of Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. Bank of America assumed coverage on shares of Western Midstream Partners in a report on Thursday, October 17th. They set an “underperform” rating and a $37.00 price objective on the stock. Finally, Stifel Nicolaus lifted their price target on Western Midstream Partners from $39.00 to $40.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $37.88.

Western Midstream Partners Trading Up 1.1 %

NYSE WES opened at $38.20 on Friday. Western Midstream Partners has a 52 week low of $26.81 and a 52 week high of $42.80. The company has a 50 day moving average price of $38.38 and a 200 day moving average price of $38.60. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.05. The firm has a market cap of $14.54 billion, a PE ratio of 9.74, a price-to-earnings-growth ratio of 0.72 and a beta of 2.88.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.09). The business had revenue of $883.36 million for the quarter, compared to analyst estimates of $924.83 million. Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.70 earnings per share. As a group, sell-side analysts forecast that Western Midstream Partners will post 4.13 EPS for the current fiscal year.

Western Midstream Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were issued a $0.875 dividend. The ex-dividend date was Friday, November 1st. This represents a $3.50 annualized dividend and a dividend yield of 9.16%. Western Midstream Partners’s dividend payout ratio (DPR) is presently 89.29%.

Institutional Trading of Western Midstream Partners

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC boosted its position in Western Midstream Partners by 287.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,437 shares of the pipeline company’s stock worth $55,000 after purchasing an additional 1,066 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new stake in Western Midstream Partners during the second quarter worth $74,000. Triad Wealth Partners LLC acquired a new stake in Western Midstream Partners during the second quarter valued at $78,000. Cedar Mountain Advisors LLC increased its holdings in Western Midstream Partners by 16.1% in the third quarter. Cedar Mountain Advisors LLC now owns 2,158 shares of the pipeline company’s stock valued at $83,000 after buying an additional 299 shares in the last quarter. Finally, Millburn Ridgefield Corp acquired a new position in shares of Western Midstream Partners in the third quarter worth about $86,000. 42.94% of the stock is owned by institutional investors and hedge funds.

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.