Western Midstream Partners, LP (NYSE:WES) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Western Midstream Partners, LP (NYSE:WES) has been given an average recommendation of “Moderate Buy” by the eleven analysts that are presently covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $49.89.

Several equities research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Western Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, October 17th. Royal Bank Of Canada increased their price target on shares of Western Midstream Partners from $41.00 to $47.00 and gave the company a “sector perform” rating in a research note on Monday, August 24th. JPMorgan Chase & Co. assumed coverage on Western Midstream Partners in a research note on Tuesday, October 20th. They set a “neutral” rating and a $50.00 price target on the stock. Morgan Stanley dropped their price target on Western Midstream Partners from $55.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 21st. Finally, Truist Financial started coverage on Western Midstream Partners in a research report on Thursday, September 17th. They set a “buy” rating and a $55.00 price objective for the company.

Insider Buying and Selling

In other news, Director Frederick Forthuber purchased 5,140 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were acquired at an average price of $48.62 per share, for a total transaction of $249,906.80. Following the acquisition, the director directly owned 5,140 shares in the company, valued at approximately $249,906.80. The trade was a ? increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.04% of the company’s stock.

Institutional Trading of Western Midstream Partners

A number of hedge funds have recently bought and sold shares of WES. Militia Capital Management LLC acquired a new stake in Western Midstream Partners during the first quarter valued at approximately $8,244,000. Adams Asset Advisors LLC increased its position in Western Midstream Partners by 8.9% in the 3rd quarter. Adams Asset Advisors LLC now owns 408,023 shares of the pipeline company’s stock valued at $18,104,000 after acquiring an additional 33,200 shares during the period. Infrastructure Capital Advisors LLC increased its stake in Western Midstream Partners by 6.7% during the 1st quarter. Infrastructure Capital Advisors LLC now owns 1,234,879 shares of the pipeline company’s stock valued at $50,840,000 after buying an additional 77,202 shares during the period. Berkley W R Corp boosted its stake in Western Midstream Partners by 42.8% during the 1st quarter. Berkley W R Corp now owns 1,266,970 shares of the pipeline company’s stock valued at $52,161,000 after purchasing an additional 379,807 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its holdings in Western Midstream Partners by 8.8% in the 1st quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,676,900 shares of the pipeline company’s stock valued at $69,038,000 after acquiring an additional 136,000 shares during the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

Western Midstream Partners Trading Down 1.1%

Shares of WES stock opened at $43.75 on Wednesday. The firm has a market capitalization of $18.07 billion, a P/E ratio of 13.76, a PEG ratio of 1.19 and a beta of 0.75. Western Midstream Partners has a fifty-two week low of $37.01 and a fifty-two week high of $50.07. The stock’s fifty day moving average is $46.29 and its two-hundred day moving average is $44.17. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.91 and a current ratio of 0.91.

Western Midstream Partners (NYSE:WES) last posted its quarterly earnings results on Wednesday, August 5th. The pipeline company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.91 by $0.08. Western Midstream Partners had a return on equity of 33.13% and a net margin of 29.44%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the previous year, the firm earned $0.87 EPS. The company’s quarterly revenue was up 30.0% compared to the same quarter last year. Research analysts expect that Western Midstream Partners will post 3.67 earnings per share for the current fiscal year.

Western Midstream Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Monday, November 2nd will be issued a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 8.5%. The ex-dividend date of this dividend is Monday, November 2nd. Western Midstream Partners’s dividend payout ratio (DPR) is currently 116.98%.

Western Midstream Partners Company Profile

Western Midstream Partners, L.P. (NYSE:WES) is a master limited partnership that owns and operates midstream energy infrastructure in the United States. The company provides gathering, processing, transportation, storage and treating services for natural gas, crude oil, natural gas liquids and produced water.

Western Midstream’s assets include gathering systems, processing plants, pipelines, storage facilities and water-handling infrastructure. These facilities connect oil and gas producers with downstream markets and are generally supported by long-term commercial arrangements.