Western Midstream Partners (NYSE:WES) Hits New 1-Year High – Time to Buy?

Western Midstream Partners, LP (NYSE:WES)’s share price hit a new 52-week high on Wednesday . The company traded as high as $44.34 and last traded at $44.06, with a volume of 2819001 shares traded. The stock had previously closed at $43.43.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wells Fargo & Company lowered 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 report on Thursday, January 22nd. Stifel Nicolaus set a $43.00 price target on Western Midstream Partners in a report on Thursday, November 6th. Royal Bank Of Canada lifted their target price on Western Midstream Partners from $39.00 to $42.00 and gave the company a “sector perform” rating in a research report on Friday, November 28th. Finally, Wall Street Zen downgraded Western Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $41.33.

Western Midstream Partners Stock Performance

The company has a fifty day moving average price of $40.62 and a two-hundred day moving average price of $39.32. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.43 and a quick ratio of 1.43. The company has a market capitalization of $17.98 billion, a P/E ratio of 13.04 and a beta of 0.77.

Western Midstream Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were paid a dividend of $0.91 per share. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $3.64 annualized dividend and a dividend yield of 8.3%. Western Midstream Partners’s dividend payout ratio (DPR) is presently 107.69%.

Insider Buying and Selling at Western Midstream Partners

In related news, SVP Christopher B. Dial sold 5,879 shares of the firm’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $42.35, for a total transaction of $248,975.65. Following the completion of the transaction, the senior vice president directly owned 185,011 shares of the company’s stock, valued at $7,835,215.85. This trade represents a 3.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.04% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Western Midstream Partners

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Eagle Bay Advisors LLC acquired a new position in shares of Western Midstream Partners in the fourth quarter worth approximately $27,000. Northwestern Mutual Wealth Management Co. bought a new position in Western Midstream Partners during the 4th quarter worth approximately $27,000. Rothschild Investment LLC lifted its position in shares of Western Midstream Partners by 76.2% in the 4th quarter. Rothschild Investment LLC now owns 793 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 343 shares during the period. Global Wealth Strategies & Associates bought a new stake in shares of Western Midstream Partners in the 4th quarter valued at $35,000. Finally, Jones Financial Companies Lllp increased its position in shares of Western Midstream Partners by 86.1% during the third quarter. Jones Financial Companies Lllp now owns 908 shares of the pipeline company’s stock worth $36,000 after buying an additional 420 shares during the period. Institutional investors and hedge funds 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.