Western Midstream Partners, LP (NYSE:WES) Receives $41.71 Consensus Price Target from Analysts

Western Midstream Partners, LP (NYSE:WES) has been assigned a consensus recommendation of “Hold” from the seven analysts that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $41.7143.

WES has been the topic of a number of research analyst reports. Royal Bank Of Canada raised their price target on shares of Western Midstream Partners from $39.00 to $42.00 and gave the company a “sector perform” rating in a research note on Friday, November 28th. Wells Fargo & Company increased their price objective on shares of Western Midstream Partners from $39.00 to $41.00 and gave the company an “equal weight” rating in a research note on Friday, March 13th. JPMorgan Chase & Co. cut their target price on shares of Western Midstream Partners from $44.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, March 12th. Stifel Nicolaus decreased their target price on shares of Western Midstream Partners from $43.00 to $42.00 and set a “hold” rating on the stock in a research note on Friday, February 20th. Finally, Wall Street Zen downgraded shares of Western Midstream Partners from a “buy” rating to a “hold” rating in a report on Saturday, December 27th.

Western Midstream Partners Price Performance

Shares of WES stock opened at $41.59 on Tuesday. The business has a fifty day simple moving average of $41.48 and a 200 day simple moving average of $39.76. The company has a market cap of $16.37 billion, a P/E ratio of 13.86 and a beta of 0.76. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.97. Western Midstream Partners has a twelve month low of $33.60 and a twelve month high of $44.74.

Western Midstream Partners (NYSE:WES) last released its earnings results on Wednesday, February 18th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.44). The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.06 billion. Western Midstream Partners had a net margin of 30.52% and a return on equity of 33.14%. The business’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 EPS. On average, sell-side analysts forecast that Western Midstream Partners will post 4.02 EPS for the current fiscal year.

Western Midstream Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 2nd were issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 8.8%. The ex-dividend date of this dividend was Monday, February 2nd. Western Midstream Partners’s dividend payout ratio is presently 121.33%.

Insider Activity

In other news, Director Robert G. Phillips bought 1,250 shares of the company’s stock in a transaction on Wednesday, March 11th. The stock was purchased at an average cost of $40.19 per share, for a total transaction of $50,237.50. Following the completion of the transaction, the director owned 5,296 shares of the company’s stock, valued at $212,846.24. This trade represents a 30.89% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Christopher B. Dial sold 5,879 shares of Western Midstream Partners stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $42.35, for a total value of $248,975.65. Following the sale, the senior vice president directly owned 185,011 shares in the company, valued at $7,835,215.85. The trade was a 3.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.04% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Western Midstream Partners

Institutional investors have recently added to or reduced their stakes in the business. Eagle Bay Advisors LLC acquired a new position in shares of Western Midstream Partners during the fourth quarter worth $27,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Western Midstream Partners in the fourth quarter worth $27,000. Rothschild Investment LLC increased its holdings in Western Midstream Partners by 76.2% in the fourth quarter. Rothschild Investment LLC now owns 793 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 343 shares during the period. Garton & Associates Financial Advisors LLC bought a new position in Western Midstream Partners during the 4th quarter worth $32,000. Finally, Global Wealth Strategies & Associates bought a new position in Western Midstream Partners during the 4th quarter worth $35,000. 84.82% of the stock is owned by institutional investors.

Western Midstream Partners Company Profile

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.