Western Midstream Partners (NYSE:WES) Stock Passes Above 200-Day Moving Average – Should You Sell?

Shares of Western Midstream Partners, LP (NYSE:WES) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $38.83 and traded as high as $39.81. Western Midstream Partners shares last traded at $39.8840, with a volume of 352,042 shares.

Analyst Upgrades and Downgrades

Several brokerages have commented on WES. Wall Street Zen upgraded shares of Western Midstream Partners from a “hold” rating to a “buy” rating in a report on Sunday, December 14th. Mizuho increased their price target on shares of Western Midstream Partners from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, August 29th. Royal Bank Of Canada raised their price objective on shares of Western Midstream Partners from $39.00 to $42.00 and gave the stock a “sector perform” rating in a report on Friday, November 28th. Stifel Nicolaus set a $43.00 target price on Western Midstream Partners in a report on Thursday, November 6th. Finally, Citigroup initiated coverage on Western Midstream Partners in a research note on Monday, October 20th. They issued a “neutral” rating and a $39.00 target price for the company. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Western Midstream Partners currently has an average rating of “Hold” and a consensus target price of $41.50.

Western Midstream Partners Price Performance

The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 2.08. The company has a market cap of $16.27 billion, a PE ratio of 11.80 and a beta of 0.76. The firm has a 50 day moving average of $38.88 and a two-hundred day moving average of $38.83.

Western Midstream Partners (NYSE:WES) last released its earnings results on Tuesday, November 4th. The pipeline company reported $0.87 EPS for the quarter, hitting the consensus estimate of $0.87. Western Midstream Partners had a return on equity of 39.37% and a net margin of 35.18%.The business had revenue of $952.48 million for the quarter, compared to the consensus estimate of $965.55 million. During the same period in the previous year, the company posted $0.74 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. Research analysts predict that Western Midstream Partners, LP will post 4.02 earnings per share for the current fiscal year.

Western Midstream Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 31st were paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 9.1%. The ex-dividend date was Friday, October 31st. Western Midstream Partners’s dividend payout ratio (DPR) is currently 107.69%.

Hedge Funds Weigh In On Western Midstream Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WES. Jones Financial Companies Lllp increased its holdings in shares of Western Midstream Partners by 86.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 908 shares of the pipeline company’s stock worth $36,000 after purchasing an additional 420 shares in the last quarter. Sound Income Strategies LLC purchased a new stake in Western Midstream Partners during the second quarter valued at $39,000. MTM Investment Management LLC bought a new stake in shares of Western Midstream Partners during the 2nd quarter valued at about $39,000. Fulcrum Asset Management LLP purchased a new stake in shares of Western Midstream Partners during the 3rd quarter valued at about $41,000. Finally, Allworth Financial LP bought a new position in shares of Western Midstream Partners in the 2nd quarter worth approximately $43,000. 84.82% of the stock is owned by institutional investors.

About Western Midstream Partners

Western Midstream Partners, LP (NYSE: WES) is a midstream energy infrastructure company that owns, operates and develops an integrated network of crude oil, natural gas and produced water gathering, processing, transportation and storage assets in the United States. The partnership’s primary offerings include pipeline transportation, fractionation services, natural gas liquids (NGL) logistics and produced water handling. Through its fee-based and commodity-based contracts, Western Midstream provides its customers with essential services that support efficient energy production and distribution.

The company’s asset portfolio spans key onshore basins, including the Delaware Basin in West Texas and southeastern New Mexico, the San Juan Basin in New Mexico and Colorado, and the Denver-Julesburg Basin in Colorado.