Western Midstream Partners (NYSE:WES) Price Target Raised to $41.00

Western Midstream Partners (NYSE:WES) had its price target boosted by Royal Bank of Canada from $38.00 to $41.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a sector perform rating on the pipeline company’s stock.

A number of other equities analysts have also recently issued reports on the company. Morgan Stanley cut Western Midstream Partners from an “overweight” rating to an “equal weight” rating and set a $42.00 target price on the stock. in a report on Monday, September 16th. StockNews.com lowered shares of Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 12th. Stifel Nicolaus boosted their target price on shares of Western Midstream Partners from $39.00 to $40.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Finally, UBS Group raised their price target on shares of Western Midstream Partners from $38.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $38.38.

Western Midstream Partners Trading Up 0.5 %

NYSE:WES opened at $38.72 on Wednesday. The firm has a fifty day simple moving average of $38.58 and a two-hundred day simple moving average of $38.26. Western Midstream Partners has a 12 month low of $26.49 and a 12 month high of $42.80. The stock has a market capitalization of $14.73 billion, a price-to-earnings ratio of 10.91, a PEG ratio of 0.75 and a beta of 2.87. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.08.

Western Midstream Partners (NYSE:WES) last issued its earnings results on Wednesday, August 7th. The pipeline company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.88 by $0.09. The company had revenue of $905.63 million during the quarter, compared to the consensus estimate of $904.94 million. Western Midstream Partners had a return on equity of 47.19% and a net margin of 44.01%. The firm’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period last year, the business posted $0.64 EPS. Analysts expect that Western Midstream Partners will post 4.15 EPS for the current fiscal year.

Western Midstream Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be paid a $0.875 dividend. The ex-dividend date is Friday, November 1st. This represents a $3.50 annualized dividend and a yield of 9.04%. Western Midstream Partners’s dividend payout ratio (DPR) is 98.59%.

Insider Transactions at Western Midstream Partners

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the completion of the sale, the insider now directly owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Western Midstream Partners

Several institutional investors have recently added to or reduced their stakes in the stock. Cedar Mountain Advisors LLC grew 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 during the period. American National Bank boosted its position in Western Midstream Partners by 34.5% during the first quarter. American National Bank now owns 1,190 shares of the pipeline company’s stock worth $42,000 after purchasing an additional 305 shares during the period. Bleakley Financial Group LLC increased its stake in shares of Western Midstream Partners by 5.8% in the third quarter. Bleakley Financial Group LLC now owns 5,711 shares of the pipeline company’s stock worth $218,000 after purchasing an additional 311 shares in the last quarter. Albert D Mason Inc. raised its position in shares of Western Midstream Partners by 0.7% in the second quarter. Albert D Mason Inc. now owns 48,760 shares of the pipeline company’s stock valued at $1,937,000 after purchasing an additional 333 shares during the period. Finally, Belfer Management LLC lifted its stake in shares of Western Midstream Partners by 4.4% during the 1st quarter. Belfer Management LLC now owns 9,957 shares of the pipeline company’s stock valued at $354,000 after buying an additional 418 shares in the last quarter. Institutional investors own 42.94% of the company’s stock.

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.