Western Midstream Partners (NYSE:WES) Downgraded by Wall Street Zen to Hold

Western Midstream Partners (NYSE:WES) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Other research analysts have also issued research reports about the company. Wells Fargo & Company increased their price target on Western Midstream Partners from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 13th. Morgan Stanley reduced their price objective on Western Midstream Partners from $41.00 to $39.00 and set an “underweight” rating on the stock in a research note on Tuesday, August 26th. Royal Bank Of Canada boosted their price objective on shares of Western Midstream Partners from $39.00 to $42.00 and gave the stock a “sector perform” rating in a report on Friday, November 28th. Mizuho upped their price target on shares of Western Midstream Partners from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, August 29th. Finally, Citigroup started coverage on Western Midstream Partners in a research report on Monday, October 20th. They issued a “neutral” rating and a $39.00 target price for the company. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $41.50.

Western Midstream Partners Stock Performance

NYSE:WES opened at $39.93 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 2.08. The firm’s fifty day simple moving average is $38.62 and its 200-day simple moving average is $38.74. Western Midstream Partners has a fifty-two week low of $33.60 and a fifty-two week high of $43.33. The stock has a market cap of $16.29 billion, a PE ratio of 11.81 and a beta of 0.76.

Western Midstream Partners (NYSE:WES) last posted its earnings results on Tuesday, November 4th. The pipeline company reported $0.87 earnings per share for the quarter, meeting the consensus estimate of $0.87. The company had revenue of $952.48 million for the quarter, compared to analyst estimates of $965.55 million. Western Midstream Partners had a return on equity of 39.37% and a net margin of 35.18%.Western Midstream Partners’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.74 earnings per share. Analysts expect that Western Midstream Partners will post 4.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Western Midstream Partners

Several hedge funds have recently modified their holdings of WES. Financial Network Wealth Advisors LLC grew its holdings in Western Midstream Partners by 1,856.4% during the first quarter. Financial Network Wealth Advisors LLC now owns 763 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 724 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Western Midstream Partners by 86.1% in the third quarter. Jones Financial Companies Lllp now owns 908 shares of the pipeline company’s stock valued at $36,000 after purchasing an additional 420 shares in the last quarter. MTM Investment Management LLC purchased a new position in Western Midstream Partners during the 2nd quarter valued at about $39,000. Sound Income Strategies LLC acquired a new position in Western Midstream Partners in the 2nd quarter valued at approximately $39,000. Finally, Fulcrum Asset Management LLP acquired a new position in shares of Western Midstream Partners in the third quarter worth $41,000. 84.82% of the stock is currently owned by institutional investors and hedge funds.

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.