Investment analysts at Mizuho started coverage on shares of Western Midstream Partners (NYSE:WES) in a research report issued to clients and investors on Friday, The Fly reports. The brokerage set a “buy” rating on the pipeline company’s stock.
Several other research analysts have also issued reports on WES. ValuEngine upgraded Western Midstream Partners from a “sell” rating to a “hold” rating in a research report on Saturday, April 13th. Zacks Investment Research upgraded Western Midstream Partners from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research report on Wednesday, February 20th. Mitsubishi UFJ Financial Group reduced their price target on Western Midstream Partners from $55.00 to $42.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. Wells Fargo & Co restated a “hold” rating on shares of Western Midstream Partners in a research report on Tuesday, February 19th. Finally, Citigroup restated a “buy” rating and issued a $35.00 price target on shares of Western Midstream Partners in a research report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $46.10.
NYSE:WES opened at $29.49 on Friday. Western Midstream Partners has a 12-month low of $25.89 and a 12-month high of $37.69. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.13 and a current ratio of 0.13. The firm has a market capitalization of $13.30 billion, a PE ratio of 11.75, a P/E/G ratio of 2.13 and a beta of 1.48.
Western Midstream Partners (NYSE:WES) last posted its quarterly earnings results on Tuesday, April 30th. The pipeline company reported $0.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.17). Western Midstream Partners had a return on equity of 11.61% and a net margin of 16.47%. The company had revenue of $671.88 million during the quarter, compared to the consensus estimate of $622.45 million. During the same quarter in the prior year, the business earned $0.46 earnings per share. The firm’s revenue for the quarter was up 34.1% on a year-over-year basis. Analysts forecast that Western Midstream Partners will post 2.3 EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of WES. Advisors Asset Management Inc. raised its stake in Western Midstream Partners by 2.3% during the 4th quarter. Advisors Asset Management Inc. now owns 17,918 shares of the pipeline company’s stock worth $757,000 after buying an additional 399 shares during the period. CIBC Private Wealth Group LLC raised its stake in Western Midstream Partners by 146.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 95,944 shares of the pipeline company’s stock worth $4,051,000 after buying an additional 56,941 shares during the period. Comerica Securities Inc. acquired a new stake in Western Midstream Partners during the 4th quarter worth $204,000. HITE Hedge Asset Management LLC acquired a new stake in Western Midstream Partners during the 4th quarter worth $13,749,000. Finally, Comerica Bank acquired a new stake in Western Midstream Partners during the 4th quarter worth $208,000. 41.13% of the stock is currently owned by institutional investors and hedge funds.
Western Midstream Partners Company Profile
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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