Western Midstream Partners, LP (NYSE:WES) Stock Has Consensus Price Target of $49.89

Western Midstream Partners, LP (NYSE:WES) has earned a consensus rating of “Moderate Buy” from the eleven ratings firms that are presently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $49.89.

A number of research firms have recently weighed in on WES. Citigroup increased their target price on shares of Western Midstream Partners from $42.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. UBS Group raised their target price on Western Midstream Partners from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, July 10th. Mizuho upped their price target on Western Midstream Partners from $48.00 to $51.00 and gave the company an “outperform” rating in a research report on Tuesday, July 14th. Truist Financial started coverage on shares of Western Midstream Partners in a research report on Thursday, September 17th. They set a “buy” rating and a $55.00 target price for the company. Finally, Wells Fargo & Company lifted their target price on shares of Western Midstream Partners from $43.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Monday, August 10th.

Western Midstream Partners Stock Performance

WES stock opened at $45.63 on Friday. The firm has a market cap of $18.85 billion, a PE ratio of 14.35, a P/E/G ratio of 1.36 and a beta of 0.74. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 2.02. The business has a 50 day moving average of $47.44 and a 200-day moving average of $44.95. Western Midstream Partners has a 12-month low of $36.90 and a 12-month high of $50.07.

Western Midstream Partners (NYSE:WES) last posted its quarterly earnings data on Wednesday, August 5th. The pipeline company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.08. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Western Midstream Partners had a return on equity of 33.13% and a net margin of 29.44%.The business’s revenue was up 30.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.87 earnings per share. As a group, sell-side analysts expect that Western Midstream Partners will post 3.66 earnings per share for the current year.

Western Midstream Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were given a $0.93 dividend. The ex-dividend date was Friday, July 31st. This represents a $3.72 annualized dividend and a dividend yield of 8.2%. Western Midstream Partners’s payout ratio is 116.98%.

Insider Activity

In related news, Director Frederick Forthuber acquired 5,140 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were bought at an average cost of $48.62 per share, for a total transaction of $249,906.80. Following the purchase, the director owned 5,140 shares in the company, valued at $249,906.80. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Western Midstream Partners

Several hedge funds have recently bought and sold shares of WES. Glen Eagle Advisors LLC increased its holdings in Western Midstream Partners by 843.0% during the 4th quarter. Glen Eagle Advisors LLC now owns 943 shares of the pipeline company’s stock worth $37,000 after acquiring an additional 843 shares during the period. Continuum Advisory LLC purchased a new position in Western Midstream Partners during the second quarter worth about $41,000. Toth Financial Advisory Corp grew its position in Western Midstream Partners by 209.4% during the second quarter. Toth Financial Advisory Corp now owns 1,835 shares of the pipeline company’s stock worth $80,000 after buying an additional 1,242 shares in the last quarter. Compass Financial Management LLC bought a new position in Western Midstream Partners in the 2nd quarter worth about $132,000. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Western Midstream Partners by 126.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 3,587 shares of the pipeline company’s stock valued at $148,000 after acquiring an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

About Western Midstream Partners

Western Midstream Partners, LP (NYSE: WES) is a publicly traded master limited partnership that owns and operates midstream energy infrastructure in the United States. The company provides services that connect oil and natural gas production with processing facilities, pipelines, storage systems and end markets.

Its operations include the gathering, processing, treating, transportation and storage of natural gas, natural gas liquids and crude oil. Western Midstream also provides gathering and disposal services for produced water, a byproduct of oil and gas production.