Western Midstream Partners (NYSE:WES) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Western Midstream Partners (NYSE:WES) from a hold rating to a buy rating in a research report released on Saturday,Wall Street Zen reports.

A number of other research analysts also recently issued reports on the stock. Royal Bank Of Canada boosted their price objective on shares of Western Midstream Partners from $41.00 to $47.00 and gave the company a “sector perform” rating in a research report on Monday, August 24th. Mizuho increased their target price on Western Midstream Partners from $48.00 to $51.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 14th. Morgan Stanley increased their price target on shares of Western Midstream Partners from $51.00 to $55.00 and gave the company an “equal weight” rating in a report on Tuesday, August 18th. 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 research note on Monday, August 10th. Finally, Zacks Research upgraded shares of Western Midstream Partners from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $49.25.

Western Midstream Partners Price Performance

Shares of Western Midstream Partners stock opened at $48.98 on Friday. The firm has a market capitalization of $20.24 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 1.44 and a beta of 0.69. The business’s 50-day moving average price is $47.48 and its 200-day moving average price is $44.34. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 2.02. 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 issued its earnings results on Wednesday, August 5th. The pipeline company reported $0.99 EPS for the quarter, topping 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 company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter last year, the company earned $0.87 EPS. The firm’s revenue was up 30.0% compared to the same quarter last year. Sell-side analysts forecast that Western Midstream Partners will post 3.66 EPS for the current fiscal year.

Western Midstream Partners Announces Dividend

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

Insider Transactions at Western Midstream Partners

In other Western Midstream Partners news, Director Frederick Forthuber bought 5,140 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were bought at an average price of $48.62 per share, with a total value of $249,906.80. Following the purchase, the director owned 5,140 shares of the company’s stock, valued at $249,906.80. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.04% of the company’s stock.

Institutional Investors Weigh In On Western Midstream Partners

Institutional investors have recently added to or reduced their stakes in the stock. Jefferies Financial Group Inc. purchased a new stake in Western Midstream Partners during the fourth quarter valued at approximately $5,455,000. Goldman Sachs Group Inc. boosted its holdings in shares of Western Midstream Partners by 10.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 9,562,213 shares of the pipeline company’s stock worth $377,707,000 after purchasing an additional 936,376 shares during the period. Militia Capital Management LLC purchased a new position in shares of Western Midstream Partners in the 1st quarter worth approximately $8,244,000. Vestcor Inc bought a new position in shares of Western Midstream Partners during the 4th quarter valued at approximately $2,245,000. Finally, Infrastructure Capital Advisors LLC increased its position in shares of Western Midstream Partners by 6.7% during the 1st quarter. Infrastructure Capital Advisors LLC now owns 1,234,879 shares of the pipeline company’s stock valued at $50,840,000 after purchasing an additional 77,202 shares during the last quarter. 84.82% of the stock is owned by hedge funds and other institutional investors.

Western Midstream Partners Company Profile

Western Midstream Partners, L.P. (NYSE:WES) is a publicly traded master limited partnership that owns, operates and develops midstream energy assets. The company provides gathering, processing, treating, compression, transportation and storage services for natural gas, crude oil, natural gas liquids and produced water.

Western Midstream’s infrastructure includes gathering systems, processing plants, pipelines, compressor stations, treatment facilities, storage assets and water-handling systems.