Western Midstream Partners, LP (NYSE:WES) Given Average Rating of “Reduce” by Brokerages

Shares of Western Midstream Partners, LP (NYSE:WES) have been given a consensus recommendation of “Reduce” by the ten analysts that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $37.88.

A number of research firms have weighed in on WES. US Capital Advisors raised Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Morgan Stanley cut shares of Western Midstream Partners from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $42.00 to $40.00 in a report on Friday, October 25th. StockNews.com lowered shares of Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. Royal Bank of Canada restated a “sector perform” rating and set a $41.00 price objective on shares of Western Midstream Partners in a research note on Monday, December 9th. Finally, Bank of America assumed coverage on Western Midstream Partners in a research report on Thursday, October 17th. They issued an “underperform” rating and a $37.00 target price on the stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC lifted its holdings in 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 during the last quarter. EverSource Wealth Advisors LLC bought a new position in shares of Western Midstream Partners in the second quarter valued at about $74,000. Cedar Mountain Advisors LLC lifted 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 buying an additional 299 shares during the last quarter. Millburn Ridgefield Corp bought a new stake in shares of Western Midstream Partners during the 3rd quarter worth about $86,000. Finally, Farmers & Merchants Investments Inc. grew its stake in Western Midstream Partners by 63.9% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 2,566 shares of the pipeline company’s stock valued at $102,000 after buying an additional 1,000 shares during the last quarter. 84.82% of the stock is owned by institutional investors and hedge funds.

Western Midstream Partners Trading Up 0.6 %

WES opened at $38.36 on Friday. The stock has a market capitalization of $14.60 billion, a P/E ratio of 9.79, a P/E/G ratio of 1.08 and a beta of 2.90. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.05. Western Midstream Partners has a 12 month low of $27.44 and a 12 month high of $42.80. The firm’s fifty day simple moving average is $38.47 and its 200 day simple moving average is $38.96.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.09). The firm had revenue of $883.36 million during the quarter, compared to the consensus estimate of $924.83 million. Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.70 earnings per share. As a group, research analysts anticipate that Western Midstream Partners will post 4.03 EPS for the current fiscal year.

Western Midstream Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were issued a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a yield of 9.12%. The ex-dividend date of this dividend was Friday, November 1st. Western Midstream Partners’s payout ratio is currently 89.29%.

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.