Western Midstream Partners, LP (NYSE:WES) Receives $37.88 Consensus Target Price from Brokerages

Shares of Western Midstream Partners, LP (NYSE:WES) have been given a consensus recommendation of “Reduce” by the ten research firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $37.88.

WES has been the topic of several research reports. US Capital Advisors raised Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. UBS Group dropped their price objective on shares of Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. StockNews.com cut shares of Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. Royal Bank of Canada reiterated a “sector perform” rating and set a $41.00 price target on shares of Western Midstream Partners in a research note on Monday, December 9th. Finally, Bank of America began coverage on Western Midstream Partners in a research note on Thursday, October 17th. They issued an “underperform” rating and a $37.00 price objective for the company.

Western Midstream Partners Stock Up 2.0 %

NYSE:WES opened at $41.50 on Thursday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $15.79 billion, a P/E ratio of 10.59, a P/E/G ratio of 1.24 and a beta of 2.90. Western Midstream Partners has a fifty-two week low of $27.49 and a fifty-two week high of $42.80. The firm has a 50-day simple moving average of $39.14 and a two-hundred day simple moving average of $39.09.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.09). The firm had revenue of $883.36 million for 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%. Western Midstream Partners’s revenue was up 13.8% on a year-over-year basis. During the same period last year, the business earned $0.70 EPS. Analysts predict that Western Midstream Partners will post 4.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Western Midstream Partners

Several large investors have recently made changes to their positions in WES. Cedar Mountain Advisors LLC raised its stake in 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 valued at $83,000 after purchasing an additional 299 shares during the period. Bleakley Financial Group LLC raised its position in shares of Western Midstream Partners by 5.8% during the third quarter. Bleakley Financial Group LLC now owns 5,711 shares of the pipeline company’s stock valued at $218,000 after buying an additional 311 shares during the last quarter. Concurrent Investment Advisors LLC lifted its holdings in shares of Western Midstream Partners by 6.2% in the third quarter. Concurrent Investment Advisors LLC now owns 6,053 shares of the pipeline company’s stock worth $232,000 after buying an additional 352 shares in the last quarter. Truist Financial Corp boosted its position in shares of Western Midstream Partners by 1.9% during the second quarter. Truist Financial Corp now owns 22,508 shares of the pipeline company’s stock worth $894,000 after acquiring an additional 421 shares during the last quarter. Finally, Albert D Mason Inc. grew its stake in Western Midstream Partners by 1.0% during the third quarter. Albert D Mason Inc. now owns 49,261 shares of the pipeline company’s stock valued at $1,885,000 after acquiring an additional 501 shares in the last quarter. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

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.