Western Midstream Partners (NYSE:WES) Upgraded at Wall Street Zen

Western Midstream Partners (NYSE:WES) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Several other equities research analysts have also weighed in on WES. Wells Fargo & Company raised their target price on Western Midstream Partners from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 13th. Citigroup started coverage on shares of Western Midstream Partners in a research note on Monday, October 20th. They issued a “neutral” rating and a $39.00 price target on the stock. Mizuho raised their price objective on shares of Western Midstream Partners from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. Stifel Nicolaus set a $43.00 price objective on shares of Western Midstream Partners in a research report on Thursday, November 6th. Finally, Royal Bank Of Canada increased their target price on shares of Western Midstream Partners from $39.00 to $42.00 and gave the company a “sector perform” rating in a research report on Friday. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Western Midstream Partners presently has an average rating of “Hold” and an average price target of $41.50.

Western Midstream Partners Stock Performance

Shares of WES stock opened at $39.47 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 2.08. The firm has a fifty day moving average price of $38.57 and a 200 day moving average price of $38.74. The company has a market cap of $16.10 billion, a P/E ratio of 12.14 and a beta of 1.14. Western Midstream Partners has a 12 month low of $33.60 and a 12 month high of $43.33.

Western Midstream Partners (NYSE:WES) last posted its quarterly earnings results on Tuesday, November 4th. The pipeline company reported $0.87 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.87. The company had revenue of $952.48 million for the quarter, compared to analysts’ expectations of $965.55 million. Western Midstream Partners had a return on equity of 37.70% and a net margin of 34.45%.Western Midstream Partners’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm earned $0.74 earnings per share. Sell-side analysts predict that Western Midstream Partners will post 4.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Western Midstream Partners

A number of hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Western Midstream Partners in the 3rd quarter valued at $300,257,000. Kingstone Capital Partners Texas LLC purchased a new position in Western Midstream Partners during the 2nd quarter worth $156,967,000. Invesco Ltd. grew its position in Western Midstream Partners by 7.1% during the 1st quarter. Invesco Ltd. now owns 24,417,770 shares of the pipeline company’s stock worth $1,000,152,000 after purchasing an additional 1,608,609 shares during the last quarter. Berkley W R Corp acquired a new position in Western Midstream Partners in the third quarter valued at $34,857,000. Finally, CIBC Bancorp USA Inc. acquired a new position in Western Midstream Partners in the third quarter valued at $32,153,000. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

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.