Western Midstream Partners (NYSE:WES) Now Covered by Analysts at Truist Financial

Stock analysts at Truist Financial initiated coverage on shares of Western Midstream Partners (NYSE:WES) in a note issued to investors on Thursday, Benzinga reports. The firm set a “buy” rating and a $55.00 price target on the pipeline company’s stock. Truist Financial’s price target points to a potential upside of 17.28% from the stock’s current price.

A number of other equities analysts have also recently issued reports on WES. JPMorgan Chase & Co. increased their target price on Western Midstream Partners from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. Royal Bank Of Canada upped their price objective on shares of Western Midstream Partners from $41.00 to $47.00 and gave the stock a “sector perform” rating in a report on Monday, August 24th. Zacks Research raised shares of Western Midstream Partners from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 13th. Morgan Stanley boosted their target price on shares of Western Midstream Partners from $51.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 18th. Finally, Wall Street Zen upgraded shares of Western Midstream Partners from a “hold” rating to a “buy” rating in a report on Saturday, September 12th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Western Midstream Partners currently has a consensus rating of “Moderate Buy” and an average target price of $49.89.

Western Midstream Partners Stock Down 0.7%

WES stock opened at $46.90 on Thursday. The stock’s 50 day simple moving average is $47.65 and its 200 day simple moving average is $44.49. Western Midstream Partners has a fifty-two week low of $36.90 and a fifty-two week high of $50.07. 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 cap of $19.38 billion, a P/E ratio of 14.75, a price-to-earnings-growth ratio of 1.39 and a beta of 0.69.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings results on Wednesday, August 5th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.08. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.13 billion. Western Midstream Partners had a return on equity of 33.13% and a net margin of 29.44%.The company’s quarterly revenue was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.87 earnings per share. On average, research analysts expect that Western Midstream Partners will post 3.66 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Frederick Forthuber bought 5,140 shares of the stock in a transaction dated Wednesday, August 12th. The stock was bought at an average price of $48.62 per share, for a total transaction of $249,906.80. Following the completion of the acquisition, the director directly owned 5,140 shares in the company, valued at approximately $249,906.80. This trade represents a ? increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.04% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Western Midstream Partners

Institutional investors have recently added to or reduced their stakes in the company. Tidal Investments LLC increased its stake in Western Midstream Partners by 77.5% in the 2nd quarter. Tidal Investments LLC now owns 8,769 shares of the pipeline company’s stock valued at $384,000 after buying an additional 3,828 shares during the last quarter. Integrated Wealth Concepts LLC grew its holdings in shares of Western Midstream Partners by 59.9% in the second quarter. Integrated Wealth Concepts LLC now owns 9,922 shares of the pipeline company’s stock valued at $434,000 after acquiring an additional 3,717 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of Western Midstream Partners by 8.1% in the second quarter. NewEdge Advisors LLC now owns 71,977 shares of the pipeline company’s stock valued at $3,150,000 after acquiring an additional 5,393 shares in the last quarter. HighTower Advisors LLC lifted its holdings in Western Midstream Partners by 14.2% during the second quarter. HighTower Advisors LLC now owns 98,294 shares of the pipeline company’s stock worth $4,301,000 after acquiring an additional 12,252 shares during the period. Finally, Compass Financial Management LLC purchased a new position in Western Midstream Partners in the second quarter worth $132,000. 84.82% of the stock is owned by institutional investors.

About Western Midstream Partners

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.