Western Midstream Partners (NYSE:WES) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Western Midstream Partners (NYSE:WES) from a strong-buy rating to a buy rating in a research note released on Friday.

WES has been the subject of several other reports. Stifel Nicolaus downgraded Western Midstream Partners from a buy rating to a hold rating and set a $39.00 target price for the company. in a research note on Wednesday, July 10th. Wells Fargo & Company lifted their target price on Western Midstream Partners from $34.00 to $35.00 and gave the stock an equal weight rating in a research note on Tuesday, May 21st. Wolfe Research upgraded Western Midstream Partners from an underperform rating to a peer perform rating in a research note on Thursday, April 18th. Finally, Mizuho boosted their price target on Western Midstream Partners from $34.00 to $39.00 and gave the company a buy rating in a research note on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $32.56.

Western Midstream Partners Trading Down 3.0 %

NYSE:WES opened at $37.65 on Friday. The firm has a market capitalization of $14.33 billion, a price-to-earnings ratio of 10.61, a PEG ratio of 0.83 and a beta of 2.90. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 2.15. The business’s 50-day moving average price is $39.58 and its two-hundred day moving average price is $35.67. Western Midstream Partners has a 1-year low of $25.69 and a 1-year high of $42.80.

Western Midstream Partners (NYSE:WES) last posted its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.62. Western Midstream Partners had a return on equity of 44.76% and a net margin of 42.50%. The firm had revenue of $887.73 million during the quarter, compared to the consensus estimate of $868.22 million. During the same period last year, the company earned $0.52 earnings per share. The business’s revenue was up 20.9% compared to the same quarter last year. On average, equities analysts expect that Western Midstream Partners will post 4.09 earnings per share for the current year.

Western Midstream Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st will be issued a dividend of $0.875 per share. The ex-dividend date is Thursday, August 1st. This represents a $3.50 dividend on an annualized basis and a dividend yield of 9.30%. Western Midstream Partners’s dividend payout ratio (DPR) is currently 98.59%.

Hedge Funds Weigh In On Western Midstream Partners

Institutional investors have recently modified their holdings of the business. American National Bank grew its position in shares of Western Midstream Partners by 34.5% in the 1st quarter. American National Bank now owns 1,190 shares of the pipeline company’s stock valued at $42,000 after buying an additional 305 shares during the last quarter. Albert D Mason Inc. grew its position in shares of Western Midstream Partners by 0.7% in the 2nd quarter. Albert D Mason Inc. now owns 48,760 shares of the pipeline company’s stock valued at $1,937,000 after buying an additional 333 shares during the last quarter. Belfer Management LLC grew its position in shares of Western Midstream Partners by 4.4% in the 1st quarter. Belfer Management LLC now owns 9,957 shares of the pipeline company’s stock valued at $354,000 after buying an additional 418 shares during the last quarter. Retirement Group LLC grew its position in shares of Western Midstream Partners by 40.2% in the 1st quarter. Retirement Group LLC now owns 1,591 shares of the pipeline company’s stock valued at $57,000 after buying an additional 456 shares during the last quarter. Finally, Wealth Alliance grew its position in shares of Western Midstream Partners by 3.7% in the 4th quarter. Wealth Alliance now owns 12,848 shares of the pipeline company’s stock valued at $376,000 after buying an additional 458 shares during the last quarter. Institutional investors and hedge funds own 42.94% of the company’s stock.

About Western Midstream Partners

Western Midstream Partners, LP, together with its subsidiaries, operates as a midstream energy company primarily in the United States. It is involved in gathering, compressing, treating, processing, and transporting natural gas; gathering, stabilizing, and transporting condensate, natural gas liquids (NGLs), and crude oil; and gathering and disposing produced water.