Western Midstream Partners, LP (NYSE:WES) Receives $46.25 Consensus PT from Brokerages

Western Midstream Partners, LP (NYSE:WES) has been assigned an average recommendation of “Hold” from the nine analysts that are covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $46.25.

A number of brokerages have weighed in on WES. Mizuho raised their price objective on Western Midstream Partners from $48.00 to $51.00 and gave the company an “outperform” rating in a research note on Tuesday, July 14th. Wall Street Zen raised Western Midstream Partners from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. Citigroup increased their target price on Western Midstream Partners from $39.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. Morgan Stanley raised shares of Western Midstream Partners from an “underweight” rating to an “equal weight” rating and set a $51.00 price target for the company in a research report on Wednesday, June 10th. Finally, Wells Fargo & Company lifted their price target on shares of Western Midstream Partners from $41.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 13th.

Western Midstream Partners Stock Up 1.0%

Shares of Western Midstream Partners stock opened at $47.04 on Monday. The business has a 50-day moving average of $44.60 and a 200-day moving average of $42.59. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market capitalization of $18.52 billion, a PE ratio of 15.37, a P/E/G ratio of 1.95 and a beta of 0.68. Western Midstream Partners has a 1-year low of $36.90 and a 1-year high of $48.01.

Western Midstream Partners (NYSE:WES) last announced its earnings results on Wednesday, May 6th. The pipeline company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the company earned $0.79 earnings per share. The company’s revenue for the quarter was up 22.5% compared to the same quarter last year. As a group, equities analysts forecast that Western Midstream Partners will post 3.47 EPS for the current fiscal year.

Western Midstream Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 7.9%. The ex-dividend date of this dividend is Friday, July 31st. Western Midstream Partners’s dividend payout ratio (DPR) is currently 121.57%.

Institutional Investors Weigh In On Western Midstream Partners

Several hedge funds and other institutional investors have recently modified their holdings of WES. Howard Financial Services LTD. raised its stake in Western Midstream Partners by 2.3% during the fourth quarter. Howard Financial Services LTD. now owns 10,947 shares of the pipeline company’s stock valued at $432,000 after buying an additional 249 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in Western Midstream Partners by 0.9% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 30,784 shares of the pipeline company’s stock worth $1,218,000 after buying an additional 284 shares during the last quarter. Captrust Financial Advisors grew its position in shares of Western Midstream Partners by 0.6% in the 4th quarter. Captrust Financial Advisors now owns 45,995 shares of the pipeline company’s stock worth $1,817,000 after acquiring an additional 287 shares in the last quarter. M&T Bank Corp grew its position in shares of Western Midstream Partners by 3.5% in the 4th quarter. M&T Bank Corp now owns 8,540 shares of the pipeline company’s stock worth $337,000 after acquiring an additional 288 shares in the last quarter. Finally, Mutual Advisors LLC increased its holdings in shares of Western Midstream Partners by 1.9% in the 4th quarter. Mutual Advisors LLC now owns 15,453 shares of the pipeline company’s stock valued at $610,000 after acquiring an additional 292 shares during the last quarter. Institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Company Profile

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.