Western Midstream Partners (NYSE:WES) Price Target Raised to $39.00 at Royal Bank Of Canada

Western Midstream Partners (NYSE:WES) had its target price boosted by Royal Bank Of Canada from $38.00 to $39.00 in a research note published on Tuesday morning,Benzinga reports. They currently have a sector perform rating on the pipeline company’s stock.

A number of other research analysts have also recently weighed in on the company. Mizuho lowered their price objective on Western Midstream Partners from $45.00 to $44.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 20th. Morgan Stanley lowered their price target on Western Midstream Partners from $41.00 to $39.00 and set an “underweight” rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $39.20.

Western Midstream Partners Stock Up 0.7%

WES stock opened at $38.65 on Tuesday. 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 stock has a market cap of $14.74 billion, a P/E ratio of 11.89 and a beta of 1.13. The business’s 50-day moving average price is $39.14 and its 200-day moving average price is $38.99.

Western Midstream Partners (NYSE:WES) last posted its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $942.32 million for the quarter, compared to analysts’ expectations of $954.17 million. During the same period in the previous year, the firm earned $0.97 EPS. The business’s quarterly revenue was up 4.1% on a year-over-year basis. On average, equities research analysts forecast that Western Midstream Partners will post 4.02 EPS for the current year.

Western Midstream Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were issued a $0.91 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $3.64 dividend on an annualized basis and a yield of 9.4%. Western Midstream Partners’s payout ratio is currently 112.00%.

Institutional Trading of Western Midstream Partners

Large investors have recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC increased its stake in Western Midstream Partners by 133.3% in the 1st quarter. Princeton Global Asset Management LLC now owns 700 shares of the pipeline company’s stock worth $29,000 after acquiring an additional 400 shares during the last quarter. Financial Network Wealth Advisors LLC increased its stake in Western Midstream Partners by 1,856.4% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 763 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 724 shares during the last quarter. Cary Street Partners Financial LLC bought a new stake in Western Midstream Partners in the 4th quarter worth approximately $39,000. Sound Income Strategies LLC bought a new stake in Western Midstream Partners in the 2nd quarter worth approximately $39,000. Finally, MTM Investment Management LLC bought a new stake in Western Midstream Partners in the 2nd quarter worth approximately $39,000. Institutional investors own 84.82% of the company’s stock.

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.