Western Midstream Partners (NYSE:WES) Hits New 1-Year High at $36.39

Western Midstream Partners, LP (NYSE:WESGet Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $36.39 and last traded at $36.30, with a volume of 211269 shares changing hands. The stock had previously closed at $35.95.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus increased their price objective on shares of Western Midstream Partners from $35.00 to $36.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Citigroup lowered shares of Western Midstream Partners from a “buy” rating to a “neutral” rating and increased their price objective for the company from $30.00 to $34.00 in a report on Thursday, February 29th. Bank of America lowered shares of Western Midstream Partners from a “buy” rating to an “underperform” rating and cut their price objective for the company from $30.00 to $27.00 in a report on Wednesday, December 13th. Finally, Raymond James reiterated a “market perform” rating on shares of Western Midstream Partners in a research report on Tuesday, March 19th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Western Midstream Partners presently has an average rating of “Hold” and a consensus target price of $30.75.

Read Our Latest Stock Report on Western Midstream Partners

Western Midstream Partners Stock Performance

The company has a market capitalization of $13.83 billion, a P/E ratio of 13.82 and a beta of 2.83. The business has a 50-day moving average of $32.09 and a 200-day moving average of $29.37. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.76 and a quick ratio of 0.76.

Western Midstream Partners (NYSE:WESGet Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The pipeline company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.04). The company had revenue of $858.21 million during the quarter, compared to the consensus estimate of $850.23 million. Western Midstream Partners had a return on equity of 33.58% and a net margin of 32.72%. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.85 earnings per share. On average, sell-side analysts anticipate that Western Midstream Partners, LP will post 3.44 EPS for the current year.

Western Midstream Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 13th. Shareholders of record on Thursday, February 1st were paid a $0.575 dividend. The ex-dividend date of this dividend was Wednesday, January 31st. This represents a $2.30 dividend on an annualized basis and a yield of 6.33%. Western Midstream Partners’s payout ratio is 88.46%.

Insiders Place Their Bets

In other Western Midstream Partners news, Director Lisa A. Stewart bought 2,500 shares of Western Midstream Partners stock in a transaction on Wednesday, March 6th. The shares were acquired at an average price of $34.87 per share, for a total transaction of $87,175.00. Following the completion of the purchase, the director now directly owns 30,730 shares in the company, valued at approximately $1,071,555.10. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Lisa A. Stewart bought 2,500 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were bought at an average price of $34.87 per share, for a total transaction of $87,175.00. Following the completion of the purchase, the director now directly owns 30,730 shares of the company’s stock, valued at $1,071,555.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kenneth F. Owen purchased 7,000 shares of the stock in a transaction on Monday, February 26th. The stock was acquired at an average cost of $33.96 per share, with a total value of $237,720.00. Following the acquisition, the director now owns 32,730 shares of the company’s stock, valued at approximately $1,111,510.80. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

Institutional Investors Weigh In On Western Midstream Partners

Institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its holdings in Western Midstream Partners by 15.8% in the third quarter. JPMorgan Chase & Co. now owns 4,571,428 shares of the pipeline company’s stock worth $124,480,000 after acquiring an additional 622,108 shares in the last quarter. Catalyst Capital Advisors LLC boosted its holdings in Western Midstream Partners by 97.2% in the third quarter. Catalyst Capital Advisors LLC now owns 311,920 shares of the pipeline company’s stock worth $8,494,000 after acquiring an additional 153,743 shares in the last quarter. Alps Advisors Inc. boosted its holdings in Western Midstream Partners by 13.0% in the third quarter. Alps Advisors Inc. now owns 33,519,544 shares of the pipeline company’s stock worth $912,737,000 after acquiring an additional 3,855,558 shares in the last quarter. Spirit of America Management Corp NY lifted its holdings in shares of Western Midstream Partners by 2.3% during the third quarter. Spirit of America Management Corp NY now owns 178,100 shares of the pipeline company’s stock worth $4,850,000 after purchasing an additional 4,000 shares during the period. Finally, Mariner LLC lifted its holdings in shares of Western Midstream Partners by 25.5% during the third quarter. Mariner LLC now owns 93,344 shares of the pipeline company’s stock worth $2,542,000 after purchasing an additional 18,983 shares during the period. Institutional investors and hedge funds own 42.94% of the company’s stock.

About Western Midstream Partners

(Get Free Report)

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.

Featured Articles

Receive News & Ratings for Western Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.