Western Midstream Partners, LP (NYSE:WES) Receives $33.13 Consensus Price Target from Analysts

Shares of Western Midstream Partners, LP (NYSE:WES) have received an average rating of “Hold” from the ten ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $33.13.

Several equities analysts have recently weighed in on the company. Mizuho lifted their price objective 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. Stifel Nicolaus raised their target price on Western Midstream Partners from $39.00 to $40.00 and gave the company a “hold” rating in a report on Friday, August 9th. StockNews.com upgraded Western Midstream Partners from a “buy” rating to a “strong-buy” rating in a report on Thursday. Finally, Wells Fargo & Company raised their target price on Western Midstream Partners from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Tuesday, May 21st.

Western Midstream Partners Stock Performance

NYSE WES opened at $38.32 on Monday. The firm has a market capitalization of $14.58 billion, a P/E ratio of 10.79, a P/E/G ratio of 0.73 and a beta of 2.90. Western Midstream Partners has a 1-year low of $25.69 and a 1-year high of $42.80. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.68 and a quick ratio of 1.68. The business’s 50-day simple moving average is $39.78 and its 200-day simple moving average is $36.69.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.09. The business had revenue of $905.63 million for the quarter, compared to analyst estimates of $904.94 million. Western Midstream Partners had a return on equity of 47.19% and a net margin of 44.01%. The company’s revenue was up 22.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 EPS. Equities analysts predict that Western Midstream Partners will post 4.12 EPS for the current year.

Western Midstream Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were issued a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a yield of 9.13%. The ex-dividend date was Thursday, August 1st. Western Midstream Partners’s dividend payout ratio is currently 98.59%.

Insider Activity

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Western Midstream Partners stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the transaction, the insider now directly owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Truist Financial Corp raised its position in shares of Western Midstream Partners by 1.9% during the 2nd quarter. Truist Financial Corp now owns 22,508 shares of the pipeline company’s stock valued at $894,000 after acquiring an additional 421 shares in the last quarter. Duff & Phelps Investment Management Co. bought a new stake in Western Midstream Partners during the second quarter valued at $397,000. Daymark Wealth Partners LLC acquired a new stake in shares of Western Midstream Partners during the second quarter worth $1,244,000. Sfmg LLC acquired a new stake in shares of Western Midstream Partners during the second quarter worth $205,000. Finally, EverSource Wealth Advisors LLC acquired a new stake in shares of Western Midstream Partners during the second quarter worth $74,000. Institutional investors and hedge funds own 42.94% of the company’s stock.

Western Midstream Partners Company Profile

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.