UBS Group Issues Pessimistic Forecast for Western Midstream Partners (NYSE:WES) Stock Price

Western Midstream Partners (NYSE:WES) had its price target dropped by UBS Group from $40.00 to $37.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the pipeline company’s stock. UBS Group’s price target would suggest a potential downside of 3.14% from the stock’s previous close.

WES has been the subject of a number of other research reports. Royal Bank of Canada upped their price objective on Western Midstream Partners from $38.00 to $41.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. StockNews.com lowered Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. Bank of America started coverage on Western Midstream Partners in a research note on Thursday, October 17th. They set an “underperform” rating and a $37.00 price target for the company. Stifel Nicolaus increased their price target on Western Midstream Partners from $39.00 to $40.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Finally, Morgan Stanley lowered Western Midstream Partners from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $42.00 to $40.00 in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Western Midstream Partners currently has an average rating of “Hold” and an average target price of $37.88.

Western Midstream Partners Stock Up 1.1 %

WES stock opened at $38.20 on Friday. Western Midstream Partners has a 1-year low of $26.81 and a 1-year high of $42.80. The business has a fifty day moving average price of $38.38 and a 200-day moving average price of $38.57. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $14.54 billion, a P/E ratio of 9.74, a P/E/G ratio of 0.71 and a beta of 2.88.

Western Midstream Partners (NYSE:WES) last posted its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.09). Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. The business had revenue of $883.36 million during the quarter, compared to analysts’ expectations of $924.83 million. During the same quarter in the prior year, the firm earned $0.70 EPS. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. Equities analysts forecast that Western Midstream Partners will post 4.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Western Midstream Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WES. Farther Finance Advisors LLC raised its position in Western Midstream Partners by 287.3% in the third quarter. Farther Finance Advisors LLC now owns 1,437 shares of the pipeline company’s stock valued at $55,000 after purchasing an additional 1,066 shares during the period. EverSource Wealth Advisors LLC purchased a new stake in shares of Western Midstream Partners in the 2nd quarter valued at $74,000. Triad Wealth Partners LLC acquired a new position in Western Midstream Partners during the 2nd quarter worth about $78,000. Cedar Mountain Advisors LLC lifted its stake in Western Midstream Partners by 16.1% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 2,158 shares of the pipeline company’s stock worth $83,000 after acquiring an additional 299 shares in the last quarter. Finally, Millburn Ridgefield Corp purchased a new position in Western Midstream Partners during the 3rd quarter valued at about $86,000. Institutional investors and hedge funds own 42.94% of the company’s stock.

Western Midstream Partners Company Profile

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.