Western Midstream Partners (NYSE:WES) Downgraded to Hold at Stifel Nicolaus

Western Midstream Partners (NYSE:WESGet Free Report) was downgraded by research analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, Briefing.com reports. They presently have a $39.00 price objective on the pipeline company’s stock. Stifel Nicolaus’ price objective would suggest a potential downside of 5.27% from the stock’s previous close.

A number of other brokerages have also recently weighed in on WES. Raymond James reaffirmed a “market perform” rating on shares of Western Midstream Partners in a research note on Tuesday, March 19th. StockNews.com lowered shares of Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 26th. Wolfe Research upgraded shares of Western Midstream Partners from an “underperform” rating to a “peer perform” rating in a report on Thursday, April 18th. Mizuho increased their target price on shares of Western Midstream Partners from $34.00 to $39.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Finally, Wells Fargo & Company boosted their price objective on Western Midstream Partners from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 21st. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $31.82.

Read Our Latest Stock Analysis on Western Midstream Partners

Western Midstream Partners Stock Down 0.7 %

NYSE WES opened at $41.17 on Wednesday. The business’s fifty day simple moving average is $38.06 and its 200-day simple moving average is $34.08. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 2.15. The firm has a market cap of $15.66 billion, a PE ratio of 11.60, a P/E/G ratio of 0.74 and a beta of 2.90. Western Midstream Partners has a 52 week low of $25.69 and a 52 week high of $41.73.

Western Midstream Partners (NYSE:WESGet Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.62. The company had revenue of $887.73 million during the quarter, compared to analyst estimates of $868.22 million. Western Midstream Partners had a return on equity of 44.76% and a net margin of 42.50%. The firm’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.52 earnings per share. As a group, equities analysts anticipate that Western Midstream Partners will post 4.1 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of WES. Eagle Bay Advisors LLC acquired a new position in Western Midstream Partners during the first quarter worth about $29,000. American National Bank boosted its stake in shares of Western Midstream Partners by 34.5% during the 1st quarter. American National Bank now owns 1,190 shares of the pipeline company’s stock worth $42,000 after acquiring an additional 305 shares in the last quarter. Fortitude Family Office LLC acquired a new stake in shares of Western Midstream Partners in the 4th quarter worth approximately $43,000. Retirement Group LLC increased its stake in 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 purchasing an additional 456 shares in the last quarter. Finally, UMB Bank n.a. purchased a new position in Western Midstream Partners in the 4th quarter valued at approximately $74,000. Institutional investors and hedge funds own 42.94% of the company’s stock.

About Western Midstream Partners

(Get Free Report)

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.

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