Analysts Set Western Midstream Partners, LP (NYSE:WES) PT at $37.88

Shares of Western Midstream Partners, LP (NYSE:WES) have been assigned a consensus rating of “Reduce” from the ten research firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $37.88.

WES has been the topic of several analyst reports. Royal Bank of Canada lifted their price target on shares of Western Midstream Partners from $38.00 to $41.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th. Bank of America started coverage on Western Midstream Partners in a research note on Thursday, October 17th. They set an “underperform” rating and a $37.00 target price on the stock. UBS Group decreased their price target on Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. StockNews.com lowered Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. Finally, US Capital Advisors raised shares of Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th.

Institutional Investors Weigh In On Western Midstream Partners

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

Western Midstream Partners Trading Up 2.7 %

WES opened at $40.71 on Wednesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.05. The firm has a market cap of $15.49 billion, a price-to-earnings ratio of 10.39, a PEG ratio of 1.10 and a beta of 2.88. Western Midstream Partners has a 12 month low of $26.81 and a 12 month high of $42.80. The stock has a fifty day moving average price of $38.33 and a 200-day moving average price of $38.77.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.74 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.09). Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. The firm had revenue of $883.36 million for the quarter, compared to analysts’ expectations of $924.83 million. During the same period in the previous year, the company posted $0.70 earnings per share. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Western Midstream Partners will post 4.05 earnings per share for the current fiscal year.

Western Midstream Partners Announces Dividend

The firm 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. This represents a $3.50 annualized dividend and a dividend yield of 8.60%. The ex-dividend date of this dividend was Friday, November 1st. Western Midstream Partners’s dividend payout ratio (DPR) is currently 89.29%.

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.