Analysts Set Western Midstream Partners, LP (NYSE:WES) PT at $40.25

Shares of Western Midstream Partners, LP (NYSE:WES) have been given a consensus recommendation of “Hold” by the five analysts that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $40.00.

Several brokerages have recently commented on WES. Citigroup began coverage on Western Midstream Partners in a report on Monday. They set a “neutral” rating and a $39.00 price objective for the company. Mizuho boosted their price objective on Western Midstream Partners from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. Royal Bank Of Canada boosted their price objective on Western Midstream Partners from $38.00 to $39.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 26th. Finally, Morgan Stanley cut their price objective on Western Midstream Partners from $41.00 to $39.00 and set an “underweight” rating for the company in a report on Tuesday, August 26th.

Institutional Trading of Western Midstream Partners

A number of hedge funds have recently bought and sold shares of WES. Daymark Wealth Partners LLC grew its stake in shares of Western Midstream Partners by 0.6% in the second quarter. Daymark Wealth Partners LLC now owns 45,774 shares of the pipeline company’s stock worth $1,771,000 after acquiring an additional 268 shares during the last quarter. Apollon Wealth Management LLC boosted its position in shares of Western Midstream Partners by 1.0% during the second quarter. Apollon Wealth Management LLC now owns 26,382 shares of the pipeline company’s stock valued at $1,021,000 after buying an additional 269 shares during the last quarter. Jaffetilchin Investment Partners LLC boosted its position in shares of Western Midstream Partners by 6.4% during the second quarter. Jaffetilchin Investment Partners LLC now owns 5,201 shares of the pipeline company’s stock valued at $201,000 after buying an additional 312 shares during the last quarter. SL Advisors LLC boosted its position in shares of Western Midstream Partners by 1.6% during the third quarter. SL Advisors LLC now owns 24,554 shares of the pipeline company’s stock valued at $965,000 after buying an additional 377 shares during the last quarter. Finally, Journey Strategic Wealth LLC boosted its position in shares of Western Midstream Partners by 7.3% during the second quarter. Journey Strategic Wealth LLC now owns 5,900 shares of the pipeline company’s stock valued at $228,000 after buying an additional 400 shares during the last quarter. Institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Stock Up 0.9%

WES stock opened at $38.10 on Friday. Western Midstream Partners has a twelve month low of $33.60 and a twelve month high of $43.33. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 2.08. The firm has a market capitalization of $14.53 billion, a PE ratio of 11.72 and a beta of 1.12. The stock has a 50-day simple moving average of $38.42 and a two-hundred day simple moving average of $38.43.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.82 by $0.05. Western Midstream Partners had a return on equity of 37.70% and a net margin of 34.45%.The company had revenue of $942.32 million during the quarter, compared to analyst estimates of $954.17 million. During the same quarter in the previous year, the firm earned $0.97 earnings per share. Western Midstream Partners’s revenue was up 4.1% on a year-over-year basis. On average, equities analysts predict that Western Midstream Partners will post 4.02 EPS for the current fiscal year.

Western Midstream Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be given a $0.91 dividend. The ex-dividend date is Friday, October 31st. This represents a $3.64 dividend on an annualized basis and a yield of 9.6%. Western Midstream Partners’s payout ratio is presently 112.00%.

About Western Midstream Partners

Western Midstream Partners, LP, together with its subsidiaries, operates as a midstream energy company primarily in the United States. It is involved in gathering, compressing, treating, processing, and transporting natural gas; gathering, stabilizing, and transporting condensate, natural gas liquids (NGLs), and crude oil; and gathering and disposing produced water.