Western Midstream Partners, LP (NYSE:WES) Receives $47.00 Consensus Price Target from Brokerages

Shares of Western Midstream Partners, LP (NYSE:WES) have been given an average recommendation of “Moderate Buy” by the ten brokerages that are presently covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $47.00.

A number of research firms recently commented on WES. Wells Fargo & Company lifted their price target on shares of Western Midstream Partners from $43.00 to $46.00 and gave the stock an “equal weight” rating in a report on Monday, August 10th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Western Midstream Partners in a report on Tuesday, July 21st. Wall Street Zen downgraded Western Midstream Partners from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. UBS Group boosted their target price on Western Midstream Partners from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, July 10th. Finally, Stifel Nicolaus set a $46.00 target price on Western Midstream Partners and gave the company a “buy” rating in a research note on Thursday, May 7th.

Insider Transactions at Western Midstream Partners

In other news, Director Frederick A. Forthuber acquired 5,140 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were acquired 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 of the company’s stock, valued at approximately $249,906.80. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Western Midstream Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WES. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Western Midstream Partners in the fourth quarter valued at approximately $27,000. Rothschild Investment LLC lifted its stake in shares of Western Midstream Partners by 76.2% during the 4th quarter. Rothschild Investment LLC now owns 793 shares of the pipeline company’s stock valued at $31,000 after buying an additional 343 shares in the last quarter. Garton & Associates Financial Advisors LLC bought a new position in Western Midstream Partners in the 4th quarter worth approximately $32,000. Glen Eagle Advisors LLC boosted its holdings in Western Midstream Partners by 843.0% in the 4th quarter. Glen Eagle Advisors LLC now owns 943 shares of the pipeline company’s stock worth $37,000 after buying an additional 843 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in Western Midstream Partners in the 4th quarter valued at approximately $40,000. Institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Stock Performance

NYSE WES opened at $48.94 on Friday. Western Midstream Partners has a 52-week low of $36.90 and a 52-week high of $49.00. The company has a 50-day simple moving average of $45.37 and a 200 day simple moving average of $43.37. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market capitalization of $20.22 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 1.47 and a beta of 0.68.

Western Midstream Partners (NYSE:WES) last released its earnings results on Wednesday, August 5th. The pipeline company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.08. Western Midstream Partners had a net margin of 29.44% and a return on equity of 33.13%. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the company earned $0.87 earnings per share. The company’s quarterly revenue was up 30.0% on a year-over-year basis. On average, research analysts predict that Western Midstream Partners will post 3.58 EPS for the current year.

Western Midstream Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued a $0.93 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $3.72 annualized dividend and a yield of 7.6%. Western Midstream Partners’s dividend payout ratio (DPR) is 116.98%.

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.