Western Midstream Partners (NYSE:WES) Price Target Cut to $26.00 by Analysts at Citigroup

Western Midstream Partners (NYSE:WES) had its price objective trimmed by Citigroup from $35.00 to $26.00 in a report released on Tuesday morning, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the pipeline company’s stock.

Several other equities analysts have also commented on WES. ValuEngine lowered Western Midstream Partners from a sell rating to a strong sell rating in a report on Thursday, August 1st. LADENBURG THALM/SH SH lowered Western Midstream Partners from a buy rating to a neutral rating in a report on Tuesday, August 13th. Royal Bank of Canada dropped their target price on Western Midstream Partners to $28.00 and set an outperform rating on the stock in a report on Monday, August 5th. Mitsubishi UFJ Financial Group reissued a neutral rating and issued a $37.00 target price (down previously from $42.00) on shares of Western Midstream Partners in a report on Thursday, August 1st. Finally, Credit Suisse Group dropped their target price on Western Midstream Partners from $31.00 to $28.00 and set a neutral rating on the stock in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. Western Midstream Partners has an average rating of Hold and an average price target of $34.92.

Western Midstream Partners stock opened at $25.11 on Tuesday. Western Midstream Partners has a twelve month low of $21.92 and a twelve month high of $35.75. The stock’s fifty day simple moving average is $24.26 and its 200-day simple moving average is $28.88. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.15. The firm has a market capitalization of $11.38 billion, a P/E ratio of 10.00, a P/E/G ratio of 2.44 and a beta of 1.45.

Western Midstream Partners (NYSE:WES) last posted its earnings results on Tuesday, July 30th. The pipeline company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.27). The business had revenue of $685.10 million during the quarter, compared to analysts’ expectations of $709.39 million. Western Midstream Partners had a net margin of 18.98% and a return on equity of 14.63%. The business’s quarterly revenue was up 32.2% compared to the same quarter last year. During the same period last year, the company earned ($0.32) EPS. Sell-side analysts predict that Western Midstream Partners will post 1.69 earnings per share for the current year.

In other Western Midstream Partners news, Director David J. Tudor sold 5,000 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $27.00, for a total value of $135,000.00. Corporate insiders own 0.01% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA acquired a new position in Western Midstream Partners in the second quarter valued at $2,024,000. Bank of Montreal Can boosted its stake in Western Midstream Partners by 95.2% in the second quarter. Bank of Montreal Can now owns 3,468,071 shares of the pipeline company’s stock valued at $106,713,000 after acquiring an additional 1,691,783 shares in the last quarter. Fort Washington Investment Advisors Inc. OH boosted its stake in Western Midstream Partners by 0.9% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 223,605 shares of the pipeline company’s stock valued at $6,880,000 after acquiring an additional 1,900 shares in the last quarter. Lenox Wealth Advisors LLC acquired a new position in Western Midstream Partners in the third quarter valued at $33,000. Finally, Securian Asset Management Inc boosted its stake in shares of Western Midstream Partners by 9.0% during the second quarter. Securian Asset Management Inc now owns 96,013 shares of the pipeline company’s stock worth $2,954,000 after buying an additional 7,900 shares during the period. Institutional investors own 41.63% of the company’s stock.

About Western Midstream Partners

Western Midstream Partners, LP, together with its subsidiaries, engages in 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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Analyst Recommendations for Western Midstream Partners (NYSE:WES)

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