Western Midstream Partners, LP (NYSE:WES) Receives $44.75 Consensus Target Price from Brokerages

Western Midstream Partners, LP (NYSE:WES) has received a consensus rating of “Hold” from the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $44.75.

WES has been the topic of several recent analyst reports. Morgan Stanley boosted their target price on Western Midstream Partners from $41.00 to $51.00 and gave the stock an “underweight” rating in a report on Wednesday, May 27th. US Capital Advisors raised Western Midstream Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, May 29th. Stifel Nicolaus set a $46.00 target price on Western Midstream Partners and gave the stock a “buy” rating in a report on Thursday, May 7th. JPMorgan Chase & Co. dropped their target price on Western Midstream Partners from $44.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, March 12th. Finally, UBS Group lifted their price target on shares of Western Midstream Partners from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, May 21st.

Insider Buying and Selling

In other news, Director Robert G. Phillips acquired 1,250 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The stock was purchased at an average price of $40.19 per share, with a total value of $50,237.50. Following the purchase, the director owned 5,296 shares of the company’s stock, valued at approximately $212,846.24. This trade represents a 30.89% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Western Midstream Partners

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

Western Midstream Partners Stock Performance

Shares of NYSE WES opened at $44.43 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.34. The stock has a 50 day simple moving average of $42.87 and a 200-day simple moving average of $41.39. The company has a market cap of $17.49 billion, a PE ratio of 14.52, a P/E/G ratio of 1.87 and a beta of 0.68. Western Midstream Partners has a 12-month low of $36.90 and a 12-month high of $48.01.

Western Midstream Partners (NYSE:WES) last announced its earnings results on Wednesday, May 6th. The pipeline company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.74 by $0.11. Western Midstream Partners had a return on equity of 33.89% and a net margin of 29.98%.The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the company earned $0.79 earnings per share. The firm’s quarterly revenue was up 22.5% compared to the same quarter last year. On average, equities research analysts forecast that Western Midstream Partners will post 3.44 EPS for the current year.

Western Midstream Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were paid a $0.93 dividend. The ex-dividend date of this dividend was Friday, May 1st. This represents a $3.72 dividend on an annualized basis and a yield of 8.4%. This is a positive change from Western Midstream Partners’s previous quarterly dividend of $0.91. Western Midstream Partners’s dividend payout ratio (DPR) is 121.57%.

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.