Western Midstream Partners, LP (NYSE:WES) Receives $41.50 Consensus Price Target from Brokerages

Western Midstream Partners, LP (NYSE:WES) has received an average recommendation of “Hold” from the five analysts that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $41.50.

Several analysts recently commented on the stock. Wells Fargo & Company increased their target price on shares of Western Midstream Partners from $38.00 to $40.00 and gave the company an “equal weight” rating in a research note on Thursday, November 13th. Citigroup started coverage on Western Midstream Partners in a research note on Monday, October 20th. They set a “neutral” rating and a $39.00 price objective for the company. Wall Street Zen downgraded Western Midstream Partners from a “buy” rating to a “hold” rating in a report on Saturday, December 27th. Royal Bank Of Canada increased their price target on Western Midstream Partners from $39.00 to $42.00 and gave the company a “sector perform” rating in a research report on Friday, November 28th. Finally, Stifel Nicolaus set a $43.00 price objective on Western Midstream Partners in a report on Thursday, November 6th.

Western Midstream Partners Stock Up 0.7%

Shares of Western Midstream Partners stock opened at $39.98 on Thursday. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.43 and a quick ratio of 1.43. Western Midstream Partners has a 1-year low of $33.60 and a 1-year high of $43.33. The business’s fifty day moving average price is $39.06 and its two-hundred day moving average price is $38.90. The company has a market capitalization of $16.31 billion, a P/E ratio of 11.83 and a beta of 0.76.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings results on Tuesday, November 4th. The pipeline company reported $0.87 EPS for the quarter, hitting analysts’ consensus estimates of $0.87. Western Midstream Partners had a net margin of 35.18% and a return on equity of 39.37%. The company had revenue of $952.48 million for the quarter, compared to the consensus estimate of $965.55 million. During the same period in the previous year, the firm earned $0.74 EPS. Western Midstream Partners’s revenue was up 7.8% on a year-over-year basis. As a group, research analysts forecast that Western Midstream Partners will post 4.02 EPS for the current year.

Western Midstream Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 9.1%. The ex-dividend date was Friday, October 31st. Western Midstream Partners’s dividend payout ratio is 107.69%.

Hedge Funds Weigh In On Western Midstream Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates acquired a new position in Western Midstream Partners during the fourth quarter valued at $35,000. Jones Financial Companies Lllp grew its stake in Western Midstream Partners by 86.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 908 shares of the pipeline company’s stock valued at $36,000 after acquiring an additional 420 shares in the last quarter. Sound Income Strategies LLC acquired a new position in shares of Western Midstream Partners in the 2nd quarter valued at about $39,000. MTM Investment Management LLC purchased a new stake in shares of Western Midstream Partners in the second quarter worth approximately $39,000. Finally, Fulcrum Asset Management LLP acquired a new stake in shares of Western Midstream Partners during the third quarter worth approximately $41,000. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

About Western Midstream Partners

Western Midstream Partners, LP (NYSE: WES) is a midstream energy infrastructure company that owns, operates and develops an integrated network of crude oil, natural gas and produced water gathering, processing, transportation and storage assets in the United States. The partnership’s primary offerings include pipeline transportation, fractionation services, natural gas liquids (NGL) logistics and produced water handling. Through its fee-based and commodity-based contracts, Western Midstream provides its customers with essential services that support efficient energy production and distribution.

The company’s asset portfolio spans key onshore basins, including the Delaware Basin in West Texas and southeastern New Mexico, the San Juan Basin in New Mexico and Colorado, and the Denver-Julesburg Basin in Colorado.