Western Midstream Partners (NYSE:WES) Trading 5% Higher

Western Midstream Partners LP (NYSE:WES) was up 5% during mid-day trading on Tuesday . The company traded as high as $19.61 and last traded at $19.50, approximately 2,605,586 shares were traded during mid-day trading. An increase of 127% from the average daily volume of 1,150,027 shares. The stock had previously closed at $18.57.

A number of equities analysts have issued reports on WES shares. Zacks Investment Research raised shares of Western Midstream Partners from a “strong sell” rating to a “hold” rating in a report on Saturday, November 9th. Citigroup cut their target price on shares of Western Midstream Partners from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Tuesday, December 3rd. ValuEngine raised shares of Western Midstream Partners from a “sell” rating to a “hold” rating in a report on Wednesday. Barclays set a $26.00 target price on shares of Western Midstream Partners and gave the stock a “hold” rating in a report on Tuesday, October 15th. Finally, Bank of America cut their target price on shares of Western Midstream Partners from $35.00 to $29.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Thirteen equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $31.85.

The stock has a fifty day moving average price of $19.59 and a two-hundred day moving average price of $25.07. The company has a market cap of $8.41 billion, a P/E ratio of 7.73, a PEG ratio of 2.29 and a beta of 1.35. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.66 and a quick ratio of 0.66.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings results on Monday, November 4th. The pipeline company reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.20). The business had revenue of $666.03 million for the quarter, compared to the consensus estimate of $688.91 million. Western Midstream Partners had a net margin of 18.35% and a return on equity of 15.32%. The business’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period last year, the firm posted $0.39 EPS. As a group, analysts forecast that Western Midstream Partners LP will post 1.35 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Friday, November 1st were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 12.78%. The ex-dividend date was Thursday, October 31st. This is a boost from Western Midstream Partners’s previous quarterly dividend of $0.62. Western Midstream Partners’s payout ratio is 98.80%.

In other Western Midstream Partners news, Director James R. Crane purchased 71,041 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were bought at an average price of $18.19 per share, with a total value of $1,292,235.79. Following the completion of the acquisition, the director now owns 169,068 shares in the company, valued at approximately $3,075,346.92. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David J. Tudor sold 5,000 shares of Western Midstream Partners stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $27.00, for a total value of $135,000.00. Insiders own 0.01% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Chilton Capital Management LLC raised its holdings in shares of Western Midstream Partners by 0.7% during the second quarter. Chilton Capital Management LLC now owns 88,876 shares of the pipeline company’s stock valued at $2,735,000 after buying an additional 595 shares during the last quarter. Tortoise Index Solutions LLC increased its stake in shares of Western Midstream Partners by 0.7% during the second quarter. Tortoise Index Solutions LLC now owns 87,839 shares of the pipeline company’s stock valued at $2,703,000 after acquiring an additional 610 shares during the period. Van ECK Associates Corp increased its stake in shares of Western Midstream Partners by 3.3% during the second quarter. Van ECK Associates Corp now owns 23,119 shares of the pipeline company’s stock valued at $711,000 after acquiring an additional 728 shares during the period. MHI Funds LLC increased its stake in shares of Western Midstream Partners by 11.6% during the third quarter. MHI Funds LLC now owns 7,112 shares of the pipeline company’s stock valued at $177,000 after acquiring an additional 741 shares during the period. Finally, HM Payson & Co. acquired a new position in shares of Western Midstream Partners during the second quarter valued at approximately $34,000. 41.45% of the stock is currently owned by institutional investors.

About Western Midstream Partners (NYSE:WES)

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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