Western Midstream Partners (NYSE:WES) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of Western Midstream Partners (NYSE:WES) from a buy rating to a hold rating in a research report report published on Saturday morning.

Several other equities analysts have also recently weighed in on WES. Stifel Nicolaus set a $43.00 price objective on Western Midstream Partners in a report on Thursday, November 6th. Mizuho increased their price target on Western Midstream Partners from $44.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, August 29th. Royal Bank Of Canada boosted their price target on Western Midstream Partners from $39.00 to $42.00 and gave the stock a “sector perform” rating in a research report on Friday, November 28th. Wells Fargo & Company upped their price objective on Western Midstream Partners from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 13th. Finally, Citigroup initiated coverage on shares of Western Midstream Partners in a research note on Monday, October 20th. They issued a “neutral” rating and a $39.00 target price for the company. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $41.50.

Western Midstream Partners Price Performance

Shares of WES opened at $39.15 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 2.08. Western Midstream Partners has a twelve month low of $33.60 and a twelve month high of $43.33. The stock has a market capitalization of $15.97 billion, a P/E ratio of 11.58 and a beta of 0.76. The company has a 50 day moving average of $38.91 and a 200-day moving average of $38.85.

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

Western Midstream Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 9.3%. 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

Institutional investors and hedge funds have recently modified their holdings of the stock. Jones Financial Companies Lllp lifted its stake in shares of Western Midstream Partners by 86.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 908 shares of the pipeline company’s stock worth $36,000 after buying an additional 420 shares during the last quarter. MTM Investment Management LLC bought a new position in Western Midstream Partners in the 2nd quarter valued at about $39,000. Sound Income Strategies LLC bought a new position in Western Midstream Partners in the 2nd quarter valued at about $39,000. Fulcrum Asset Management LLP acquired a new stake in Western Midstream Partners during the third quarter worth approximately $41,000. Finally, Allworth Financial LP bought a new stake in shares of Western Midstream Partners during the second quarter worth approximately $43,000. 84.82% of the stock is currently owned by institutional investors and hedge funds.

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.