Western Midstream Partners (NYSE:WES) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Western Midstream Partners, LP (NYSE:WES)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $39.18 and traded as high as $40.35. Western Midstream Partners shares last traded at $40.0930, with a volume of 1,362,015 shares traded.

Analyst Ratings Changes

Several research firms have commented on WES. Wells Fargo & Company decreased their price objective on shares of Western Midstream Partners from $40.00 to $39.00 and set an “equal weight” rating for the company in a research note on Thursday, January 22nd. Wall Street Zen lowered Western Midstream Partners from a “buy” rating to a “hold” rating in a report on Saturday, December 27th. Stifel Nicolaus set a $43.00 price target on Western Midstream Partners in a report on Thursday, November 6th. Citigroup started coverage on Western Midstream Partners in a research report on Monday, October 20th. They issued a “neutral” rating and a $39.00 price objective on the stock. Finally, Royal Bank Of Canada upped their price objective on Western Midstream Partners from $39.00 to $42.00 and gave the company a “sector perform” rating in a research note on Friday, November 28th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $41.33.

Western Midstream Partners Stock Down 3.3%

The firm has a market capitalization of $16.36 billion, a PE ratio of 11.86 and a beta of 0.77. The stock has a 50-day simple moving average of $40.01 and a 200-day simple moving average of $39.18. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 2.08.

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, hitting the consensus estimate of $0.87. The company had revenue of $952.48 million during the quarter, compared to the consensus estimate of $965.55 million. Western Midstream Partners had a return on equity of 39.37% and a net margin of 35.18%.The firm’s quarterly 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 EPS. Analysts forecast that Western Midstream Partners, LP will post 4.02 EPS for the current year.

Western Midstream Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Monday, February 2nd will be paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 9.1%. The ex-dividend date is Monday, February 2nd. Western Midstream Partners’s dividend payout ratio is presently 107.69%.

Institutional Investors Weigh In On Western Midstream Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Western Midstream Partners during the third quarter worth $300,257,000. Berkley W R Corp bought a new stake in shares of Western Midstream Partners during the 3rd quarter valued at $34,857,000. CIBC Bancorp USA Inc. bought a new stake in shares of Western Midstream Partners during the 3rd quarter valued at $32,153,000. Bank of America Corp DE lifted its holdings in Western Midstream Partners by 31.2% during the 3rd quarter. Bank of America Corp DE now owns 1,872,394 shares of the pipeline company’s stock worth $73,566,000 after purchasing an additional 445,663 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its stake in Western Midstream Partners by 21.2% in the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,540,900 shares of the pipeline company’s stock worth $60,866,000 after purchasing an additional 270,000 shares during the period. Institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Company Profile

Western Midstream Partners, LP (NYSE: WES) is a midstream energy infrastructure company that owns, operates and develops an integrated network of crude oil, natural gas and produced water gathering, processing, transportation and storage assets in the United States. The partnership’s primary offerings include pipeline transportation, fractionation services, natural gas liquids (NGL) logistics and produced water handling. Through its fee-based and commodity-based contracts, Western Midstream provides its customers with essential services that support efficient energy production and distribution.

The company’s asset portfolio spans key onshore basins, including the Delaware Basin in West Texas and southeastern New Mexico, the San Juan Basin in New Mexico and Colorado, and the Denver-Julesburg Basin in Colorado.