A number of other equities analysts also recently weighed in on the stock. Stifel Nicolaus downgraded shares of Western Midstream Partners from a “buy” rating to a “hold” rating and lowered their target price for the stock from $56.00 to $45.00 in a research note on Friday, December 21st. M Partners lifted their target price on shares of Western Midstream Partners from $42.00 to $55.00 and gave the stock a “neutral” rating in a research note on Friday, February 15th. Barclays began coverage on shares of Western Midstream Partners in a research note on Friday, March 22nd. They set an “equal weight” rating and a $34.00 target price for the company. Citigroup reaffirmed a “buy” rating and issued a $35.00 price target on shares of Western Midstream Partners in a research note on Tuesday, April 9th. Finally, Wells Fargo & Co reaffirmed a “hold” rating on shares of Western Midstream Partners in a research note on Tuesday, February 19th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $47.20.
Shares of NYSE WES opened at $34.93 on Friday. Western Midstream Partners has a twelve month low of $25.89 and a twelve month high of $38.62. The firm has a market cap of $7.05 billion, a P/E ratio of 13.92 and a beta of 1.54. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 1.37.
Western Midstream Partners (NYSE:WES) last announced its earnings results on Thursday, February 14th. The pipeline company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.65). Western Midstream Partners had a return on equity of 11.72% and a net margin of 19.06%. The firm had revenue of $557.79 million for the quarter, compared to the consensus estimate of $521.78 million. During the same period in the prior year, the business earned $0.39 EPS. Western Midstream Partners’s quarterly revenue was down 11.7% on a year-over-year basis. On average, research analysts predict that Western Midstream Partners will post 2.27 EPS for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the business. Executive Wealth Management LLC bought a new stake in Western Midstream Partners in the fourth quarter valued at $25,000. Ffcm LLC grew its holdings in shares of Western Midstream Partners by 50.0% during the fourth quarter. Ffcm LLC now owns 717 shares of the pipeline company’s stock valued at $30,000 after buying an additional 239 shares during the last quarter. Berman Capital Advisors LLC acquired a new position in shares of Western Midstream Partners during the fourth quarter valued at about $33,000. Bessemer Group Inc. grew its holdings in shares of Western Midstream Partners by 61.0% during the fourth quarter. Bessemer Group Inc. now owns 800 shares of the pipeline company’s stock valued at $34,000 after buying an additional 303 shares during the last quarter. Finally, Advisor Group Inc. grew its holdings in shares of Western Midstream Partners by 25.4% during the fourth quarter. Advisor Group Inc. now owns 1,234 shares of the pipeline company’s stock valued at $52,000 after buying an additional 250 shares during the last quarter. 42.58% of the stock is owned by hedge funds and other institutional investors.
About Western Midstream Partners
Western Gas Equity Partners, LP, together with its subsidiaries, engages in the gathering, processing, compressing, treating, stabilizing, and transporting natural gas, condensate, natural gas liquids, and crude oil primarily in the United States. It is also involved in the gathering and disposing of produced water; and buying and selling of natural gas.
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