Western Midstream Partners (NYSE:WES) Upgraded to Strong-Buy at Zacks Research

Western Midstream Partners (NYSE:WES) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Thursday,Zacks.com reports.

WES has been the topic of a number of other reports. Mizuho raised their price objective on Western Midstream Partners from $48.00 to $51.00 and gave the company an “outperform” rating in a research note on Tuesday, July 14th. Wall Street Zen cut Western Midstream Partners from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Wells Fargo & Company increased their price target on Western Midstream Partners from $43.00 to $46.00 and gave the company an “equal weight” rating in a report on Monday. Royal Bank Of Canada reissued a “sector perform” rating on shares of Western Midstream Partners in a research report on Tuesday, July 21st. Finally, Citigroup boosted their price objective on shares of Western Midstream Partners from $42.00 to $45.00 and gave the stock a “neutral” rating in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $47.00.

Western Midstream Partners Trading Up 1.4%

Western Midstream Partners stock opened at $48.94 on Thursday. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.91 and a quick ratio of 1.09. The company has a market capitalization of $20.22 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 1.96 and a beta of 0.68. Western Midstream Partners has a one year low of $36.90 and a one year high of $49.00. The company’s fifty day moving average price is $45.37 and its two-hundred day moving average price is $43.35.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings results on Wednesday, August 5th. The pipeline company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.08. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Western Midstream Partners had a return on equity of 33.13% and a net margin of 29.44%.The business’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.87 earnings per share. On average, analysts forecast that Western Midstream Partners will post 3.58 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Frederick A. Forthuber acquired 5,140 shares of the stock in a transaction dated 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 completion of the purchase, the director owned 5,140 shares in the company, valued at approximately $249,906.80. The trade was a ? increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 the stock. Northwestern Mutual Wealth Management Co. acquired a new stake in Western Midstream Partners in the 4th quarter worth $27,000. Rothschild Investment LLC raised its position in shares of Western Midstream Partners by 76.2% during the fourth quarter. Rothschild Investment LLC now owns 793 shares of the pipeline company’s stock valued at $31,000 after buying an additional 343 shares during the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in shares of Western Midstream Partners during the fourth quarter valued at about $32,000. Glen Eagle Advisors LLC lifted its stake in shares of Western Midstream Partners by 843.0% in the fourth quarter. Glen Eagle Advisors LLC now owns 943 shares of the pipeline company’s stock valued at $37,000 after buying an additional 843 shares during the period. Finally, International Assets Investment Management LLC bought a new stake in shares of Western Midstream Partners in the fourth quarter valued at about $40,000. 84.82% of the stock is owned by institutional investors.

Western Midstream Partners Company Profile

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.